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 usSanctions Screening
The process of checking payments against global sanctions lists to prevent transactions with restricted or blacklisted entities.
Scaling payment operations
The ability to increase payment volumes, currencies, and complexity without increasing operational risk or manual workload.
Scheme Rule Validation
Automated checks that ensure payment instructions comply with the rules and standards of the relevant clearing or payment scheme.
Secure Payment Submission
The encrypted and controlled transmission of payment instructions from systems to banks.
Segregation of Duties
The separation of payment responsibilities across different individuals to reduce the risk of error or fraud.
SEPA Credit Transfer
A payment scheme that allows businesses and individuals to transfer euros between SEPA-member banks efficiently.
SEPA Direct Debit
A payment method allowing organisations to collect payments from customers’ bank accounts within the SEPA zone, subject to a prior mandate.
SEPA Instant Credit Transfer
A real-time payment scheme enabling euro transfers within 10 seconds, operating 24/7 across SEPA-participating banks.
Service User Number (SUN)
A unique identifier assigned to organisations collecting Direct Debits, required for submitting payments directly to Bacs.
Settlement
The final stage of a payment where funds are transferred between accounts and the transaction is completed.
sFTP (Secure File Transfer Protocol)
A secure method of transferring files over a network, ensuring that sensitive financial data exchanged between an organisation’s systems and banks remains encrypted and protected from unauthorised access.
Single Euro Payments Area (SEPA)
An EU initiative that standardises euro-denominated payments across participating countries, making cross-border transactions as seamless as domestic ones.
Source-to-Pay
The complete lifecycle from supplier sourcing and procurement through invoice processing and payment execution.
SRA Payment compliance
Compliance with Solicitors Regulation Authority (SRA) rules governing how client and office account payments are handled.
Structured Address
An address structured into standardised fields to improve payment accuracy, compliance checks, and straight-through processing.
Structured Remittance Information
A structured data format defined within ISO 20022 that allows invoice numbers, remittance information or reference details to be included in a payment message, supporting automated matching, reconciliation and more efficient payment processing.
Sweeping
The automated movement of funds between accounts to maintain predefined balances or optimise liquidity.
SWIFT Connection
A secure and compliant gateway to the SWIFT network, which enables businesses to send and receive international payments through a trusted global financial messaging system. This connectivity allows for smoother cross-border transactions and streamlined banking operations.
System-Agnostic Integration
The ability to integrate with multiple ERPs, finance systems, and banks without platform dependency.
Get a demo
Request a demo with our team and discuss how we can make the platform work for you, with a custom package tailored to your needs.
Explore the platform
Don’t want to commit to a call with us just yet? Explore our platform showcase which highlights the key features of the platform.
Explore pricing options
Pricing packages available for all businesses small and large – find a pricing option that will suit your requirements.
Our accreditations
