Finance & Treasury Glossary of Terms
Here are some definitions for commonly used terms in the finance and treasury space. If you can’t find the definition you’re looking for here, feel free to contact us – we’re here to help!
Contact usFaster Payments
A UK payment service that allows money to be transferred almost instantly, 24/7. Whether paying suppliers, salaries, or customers, Faster Payments ensures funds arrive in minutes rather than days.
Fedwire
A real-time gross settlement system operated by the US Federal Reserve that enables immediate, high-value, and time-critical bank-to-bank payments.
Finance Operations
The function responsible for executing financial transactions, maintaining controls, supporting reporting, and ensuring operational finance efficiency.
Finance Transformation Projects
Initiatives aimed at improving the efficiency, accuracy, and security of financial processes. These projects often involve ERP implementation or migration, digitising manual workflows, integrating new payment technologies, and enhancing financial data visibility to future-proof a business’s operations.
Financial Crime Controls
System-based controls designed to detect, prevent, and mitigate fraud, sanctions breaches, and payment errors.
Financial Messaging Compliance
Ensuring that all electronic financial communications adhere to established standards and regulations, such as ISO 20022, to maintain consistency, security, and interoperability between financial institutions globally.
Four-Eyes Principle
A governance safeguard ensuring no single individual can both initiate and authorise the same payment, reducing fraud and error risk.
Fraud and Error Prevention Suite
A set of smart security tools built into a payment system to detect and prevent errors, fraud, and compliance breaches before they happen. These tools help businesses stay protected against financial crime while ensuring their payment processes remain efficient and compliant.
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