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Collection Accounts and Agency Banks

Collection Accounts and Agency Banks

by Robert Tripp | Aug 28, 2005 | Articles, Banking Product Engines, Gateways to the Banking Industry

The main clearing banks provide special services for: Organisations receiving very large numbers of payments (e.g. utility companies, retailers, local government etc.) Small banks and building societies who do not want the hassle of running their own clearing and...
Collection Accounts and Agency Banks

Real Time Accounting

by Robert Tripp | Aug 28, 2005 | Articles, Banking Product Engines, Gateways to the Banking Industry

This would be a major advance for most UK banks, who currently have a core bank accounting platform based on a single pass batch update in the middle of the night. (See The Evolution of Core Banking Systems). The benefits of real time accounting are that you get...

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