Online banking, also known as internet banking, virtual banking, web banking or home banking, is a system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institution's website or mobile app. Since the early 2000s this has become the most common way that customers access their bank accounts.
Single sign-on (SSO) is an authentication scheme that allows a user to log in with a single ID to any of several related, yet independent, software systems.
A credit bureau is a data collection agency that gathers account information from various creditors and provides that information to a consumer reporting agency in the United States, a credit reference agency in the United Kingdom, a credit reporting body in Australia, a credit information company (CIC) in India, Special Accessing Entity in the Philippines, and also to private lenders. It is not the same as a credit rating agency.
A mashup, in web development, is a web page or web application that uses content from more than one source to create a single new service displayed in a single graphical interface. For example, a user could combine the addresses and photographs of their library branches with a Google map to create a map mashup. The term implies easy, fast integration, frequently using open application programming interfaces and data sources to produce enriched results that were not necessarily the original reason for producing the raw source data. The term mashup originally comes from creating something by combining elements from two or more sources.
Mobile banking is a service provided by a bank or other financial institution that allows its customers to conduct financial transactions remotely using a mobile device such as a smartphone or tablet. Unlike the related internet banking it uses software, usually called an app, provided by the financial institution for the purpose. Mobile banking is usually available on a 24-hour basis. Some financial institutions have restrictions on which accounts may be accessed through mobile banking, as well as a limit on the amount that can be transacted. Mobile banking is dependent on the availability of an internet or data connection to the mobile device.
A bank statement is an official summary of financial transactions occurring within a given period for each bank account held by a person or business with a financial institution. Such statements are prepared by the financial institution, are numbered and indicate the period covered by the statement, and may contain other relevant information for the account type, such as how much is payable by a certain date. The start date of the statement period is usually the day after the end of the previous statement period.
Core banking is a banking service provided by a group of networked bank branches where customers may access their bank account and perform basic transactions from any of the member branch offices.
Password fatigue is the feeling experienced by many people who are required to remember an excessive number of passwords as part of their daily routine, such as to log in to a computer at work, undo a bicycle lock or conduct banking from an automated teller machine. The concept is also known as password chaos, or more broadly as identity chaos.
Data aggregation is the compiling of information from databases with intent to prepare combined datasets for data processing.
Mint, also known as Intuit Mint and formerly known as Mint.com, is a personal financial management website and mobile app for the US and Canada produced by Intuit, Inc..
Social network aggregation is the process of collecting content from multiple social network services into a unified presentation. Examples of social network aggregators include Hootsuite or FriendFeed, which may pull together information into a single location or help a user consolidate multiple social networking profiles into a single profile.
Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 of India, engaged in the business of loans and advances, acquisition of shares, stock, bonds, hire-purchase insurance business or chit-fund business, but does not include any institution whose principle business is that of agriculture, industrial activity, purchase or sale of any goods or providing any services and sale/purchase/construction of immovable property.
Multi-factor authentication is an electronic authentication method in which a user is granted access to a website or application only after successfully presenting two or more pieces of evidence to an authentication mechanism. MFA protects personal data—which may include personal identification or financial assets—from being accessed by an unauthorized third party that may have been able to discover, for example, a single password.
An identity provider is a system entity that creates, maintains, and manages identity information for principals and also provides authentication services to relying applications within a federation or distributed network.
In computing, data as a service (DaaS) is a cloud-based software tool used for working with data, such as managing data in a data warehouse or analyzing data with business intelligence. It is enabled by software as a service (SaaS). Like all "as a service" (aaS) technology, DaaS builds on the concept that its data product can be provided to the user on demand, regardless of geographic or organizational separation between provider and consumer. Service-oriented architecture (SOA) and the widespread use of APIs have rendered the platform on which the data resides as irrelevant.
SAP Logon Tickets represent user credentials in SAP systems. When enabled, users can access multiple SAP applications and services through SAP GUI and web browsers without further username and password inputs from the user. SAP Logon Tickets can also be a vehicle for enabling single sign-on across SAP boundaries; in some cases, logon tickets can be used to authenticate into 3rd party applications such as Microsoft-based web applications.
Money Dashboard is a free online personal financial management service in the United Kingdom. It provides users with the ability to view all of their online financial accounts in one place and categorises and analyses all of their transactions so they can understand how they use money. The app aims to help consumers make better financial decisions and budget for the future.
In financial services, open banking allows for financial data to be shared between banks and third-party service providers through the use of application programming interfaces (APIs). Traditionally, banks have kept customer financial data within their own closed systems. Open banking allows customers to share their financial information securely and electronically with other authorized organizations, such as fintech companies, payment providers, and other banks.
Banking as a service (BaaS) is the provision of banking products to non-bank third parties through APIs.
Customeridentity and access management (CIAM) is a subset of the larger concept of identity access management (IAM) that focuses on managing and controlling external parties' access to a business' applications, web portals and digital services.
