Learn #banking, #fintech and #payments jargon: Correspondent banking network
Correspondent banking network Definition: Correspondent banking is an arrangement whereby one bank (correspondent) holds deposits owned by other banks (respondents) and provides those banks with payment and other services (CPMI (2016)). Correspondent banking networks are critical for firms and households that conduct business or send payments internationally. Correspondent banking – final report https://www.bis.org/cpmi/publ/d147.htm Details: Correspondent… Read More »