BANKING

Nostro account is a term used in international banking to describe the account that a foreign bank maintains with its correspondent bank in a particular country. It’s like a sub-account that specifically holds funds for a particular foreign bank. Here’s a breakdown of the term: Nostro: meaning “our own” in Latin. Account: a financial account. […]

A boutique is a small, privately owned store that specializes in high-end and fashionable goods, typically clothing and accessories. Here are some key characteristics of a boutique: Size:* Typically small, with one or two floors, and a total area of around 1,000 to 20,000 square feet.* Can range from intimate and cozy to spacious and […]

Definition: An agent bank is a bank that acts on behalf of another bank (the principal bank) to provide financial services to customers. The agent bank is not the owner of the funds deposited by customers but acts as their agent and depository. Key Features: Agency relationship: Agent banks act as intermediaries between the principal […]

I am not able to access or store any information about your account, therefore I am unable to provide you with the information requested.

Judgmental Credit Analysis Judgmental credit analysis is a type of credit scoring model that relies on a human analyst’s judgment to assess an applicant’s credit worthiness. This approach is typically used for complex lending decisions or when there is a need for a more thorough evaluation of the applicant’s credit history. Key Features of Judgmental […]

An ATM (Automatic Teller Machine) is an interactive self-service terminal that provides a variety of financial services to customers through a network of interconnected terminals. Key Features of ATMs: Cash Withdrawal: Allows users to withdraw cash from their accounts. Balance Inquiry: Provides users with their account balance and transaction history. Transfer Funds: Enables users to […]

Retail banking refers to the banking services provided directly to individual customers, rather than to corporations or other businesses. These services include: Deposits: Checking accounts Savings accounts Money market accounts Certificates Money transfers Loans: Mortgages Auto loans Personal loans Credit cards Lines of credit Other services: Payment processing Money orders Traveler’s checks Foreign exchange Investment […]