Payments
Banking ExplainedSearch & banking glossary
Banking terms,
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291 terms
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Fintech
Account Aggregation
Combining authorized financial information from multiple accounts into one digital view or service.Modern Banking
Account Closure
The controlled process that ends a deposit account after authority, pending activity, remaining funds and final records are addressed.Fintech
Account Lockout
A security restriction that temporarily prevents account access after specified failed attempts, risk signals or administrative action.Fintech
Account Takeover
Unauthorized control of a real customer's digital account through stolen credentials, manipulated recovery or another compromise.Payments
Account Validation
A process used to check whether supplied account and routing information appears valid and usable before an electronic payment is originated.Modern Banking
Accrued Interest
Interest that has been earned or incurred under an account or loan’s terms but has not yet been paid or credited.Payments
ACH
A U.S. electronic payment network that processes transactions in scheduled windows; eligible payments may use Same Day ACH.Payments
ACH Credit
An electronic push payment in which an originator instructs its financial institution to send funds through the ACH Network to a receiver’s account.Payments
ACH Debit Authorization
Permission from an account holder allowing an organization to initiate one or more debits through the ACH Network under stated terms.Payments
ACH Processing Window
A scheduled period in which an ACH operator receives files for clearing and settlement at a specified time.Payments
ACH Return
A coded ACH entry that sends a payment back through the network because it could not be posted or must be returned under the rules.Payments
ACH Reversal
An ACH entry used within network rules to correct a qualifying erroneous credit or debit rather than to cancel a properly originated payment.Payments
ACH Trace Number
A unique identifier assigned to an ACH entry that helps participating financial institutions locate and research the payment record.Payments
Acquirer
A financial institution or provider that helps a merchant accept card payments and receive the proceeds.Modern Banking
Advance Rate
The percentage of an eligible collateral value that a lender includes when calculating borrowing availability.Modern Banking
Adverse Action Notice
A notice explaining that a creditor denied or changed a credit request on less favorable terms and providing required information about the decision.AI in Banking
Agentic AI
AI designed to plan and complete multi-step tasks within defined permissions and controls.AI in Banking
Agentic Payment
A payment action initiated or prepared by an AI agent within authority and limits granted by a person or organization.AI in Banking
AI Audit Trail
A record of an AI system’s inputs, outputs, approvals and other actions that supports review, accountability and investigation.AI in Banking
AI Change Control
A governed process for reviewing, testing, approving and recording changes to an AI system before they affect an approved use.AI in Banking
AI Copilot
An AI assistant that helps an employee or customer complete tasks while a person remains in control.AI in Banking
AI Data Retention
The governed period for keeping AI prompts, context, outputs and related records before archiving or disposal based on their purpose, sensitivity and applicable obligations.AI in Banking