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 usOpen Banking
A regulated framework that enables secure access to bank data and payment initiation through APIs, subject to customer consent.
Open Banking Alternative
A solution that provides functionalities similar to Open Banking, enabling businesses to connect with banks and financial institutions for payment initiation and account information services without relying solely on traditional Open Banking protocols.
Open Finance
An extension of Open Banking that allows access to a broader range of financial data, including investments, savings, pensions, and insurance.
Operational Payment Risk
Risk arising from failures in payment processes, systems, or human activity that could result in financial loss, disruption, or regulatory breach.
Operational resilience
The ability of an organisation to anticipate, withstand, recover from, and adapt to disruptions while maintaining critical functions.
Operational resilience framework
A structured approach that financial institutions use to ensure continuous operations, mitigate risks, and comply with regulatory requirements like DORA.
Operational Risk Reduction
The reduction of payment-related risk through automation, standardisation, and embedded controls.
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