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BAI (file format) 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 ...
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An automated clearing house ( ACH) is a computer-based electronic network for processing transactions, [ 1] usually domestic low value payments, between participating financial institutions. It may support both credit transfers and direct debits. [ 2][ 3] The ACH system is designed to process batches of payments containing numerous transactions ...
Electronic data interchange ( EDI) is the concept of businesses electronically communicating information that was traditionally communicated on paper, such as purchase orders, advance ship notices, and invoices. Technical standards for EDI exist to facilitate parties transacting such instruments without having to make special arrangements.
In configuration management, a baseline is an agreed description of the attributes of a product, at a point in time, which serves as a basis for defining change. [ 1] A change is a movement from this baseline state to a next state. The identification of significant changes from the baseline state is the central purpose of baseline identification.
Structured Financial Messaging System ( SFMS) is a secure messaging standard developed to serve as a platform for intra-bank and inter-bank applications. It is an Indian standard similar to SWIFT which is the international messaging system used for financial messaging globally. SFMS can be used for secure communication within the bank and ...
Transaction processing is designed to maintain a system's Integrity (typically a database or some modern filesystems) in a known, consistent state, by ensuring that interdependent operations on the system are either all completed successfully or all canceled successfully. For example, consider a typical banking transaction that involves moving ...
SWIFT message types are the format or schema used to send messages to financial institutions on the SWIFT network. The original message types were developed by SWIFT and a subset was retrospectively made into an ISO standard, ISO 15022. In many instances, SWIFT message types between custodians follow the ISO standard. [ 1]