An aggregator is a firm that collates and presents information about an individual's bank accounts, investments, insurance policies, and other financial data, enabling the person to manage their financial affairs through a single platform.
A bank aggregator is a service or a platform that consolidates information from multiple bank accounts into a single, unified interface, facilitating ease of access and management of finances.
A financial arrangement where funds, such as dividends or salaries, are electronically transferred directly into a recipient's bank account, bypassing the need for physical checks.
E-Banking, also known as electronic banking or internet banking, enables customers to perform financial transactions over the internet through a secure and portable means, allowing for convenience and speed compared to traditional banking methods.
An Electronic Funds Transfer System (EFTS) is any electronic transmission system that moves funds from one institution to another as opposed to the physical exchange of some other medium such as paper checks.
Magnetic Ink Character Recognition (MICR) is a technology used to verify the legitimacy and improve the processing of checks and other documents by using ferromagnetic ink, enabling characters to be read and sorted automatically.
Peer-to-peer lending, also known as P2P lending or social lending, is a growing practice in which individuals with spare funds lend money to small businesses or private borrowers through dedicated online platforms, bypassing traditional banks.
