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A functional flow block diagram ( FFBD) is a multi-tier, time-sequenced, step-by-step flow diagram of a system 's functional flow. [2] The term "functional" in this context is different from its use in functional programming or in mathematics, where pairing "functional" with "flow" would be ambiguous. Here, "functional flow" pertains to the ...
A bank statement is an official summary of financial transactions occurring within a given period for each bank account held by a person or business with a financial institution. Such statements are prepared by the financial institution, are numbered and indicate the period covered by the statement, and may contain other relevant information ...
BAI, or the BAI file format, is a file format for performing electronic cash management balance reporting. The BAI format was developed and previously maintained by the Bank Administration Institute (BAI). [ 1] One common application of the BAI format is for use by banks to transmit returned item data to customers (for example, checks which ...
Information flow diagram. An information flow diagram ( IFD) is a diagram that shows how information is communicated (or "flows") from a source to a receiver or target (e.g. A→C), through some medium. [ 1]: 36–39 The medium acts as a bridge, a means of transmitting the information. Examples of media include word of mouth, radio, email, etc.
Magnetic ink character recognition code, known in short as MICR code, is a character recognition technology used mainly by the banking industry to streamline the processing and clearance of cheques and other documents. MICR encoding, called the MICR line, is at the bottom of cheques and other vouchers and typically includes the document-type ...
e. A banker's acceptance is a commitment by a bank to make a requested future payment. The request will typically specify the payee, the amount, and the date on which it is eligible for payment. After acceptance, the request becomes an unconditional liability of the bank. Banker's acceptances are distinguished from ordinary time drafts in that ...
The Banking Industry Architecture Network e.V. ( BIAN) is an independent, member owned, not-for-profit association to establish and promote a common architectural framework for enabling banking interoperability. It was established in 2008. BIAN's goal is to establish a semantic framework to identify and define IT services in the banking industry.