A
ACH (Automated Clearing House)
A U.S.-based electronic payments network used for low-value, non-urgent transfers such as fees, operating expenses, and recurring payments.
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Automated Payment Validation
Pre-execution checks that validate beneficiary details, balances, cut-off times, and internal policies before a payment is released.
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B
BIC (Business Identifier Code)
A globally standardized code used to uniquely identify financial institutions in SWIFT and other payment messages, ensuring accurate routing of wire and cross-border payments.
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Bulk Wire Processing
The ability to generate and process multiple wire payments together using standardized rules and validations.
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Balance Monitoring
Continuous tracking of cash balances across bank accounts, currencies, and counterparties to support funding and settlement decisions.
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C
Cash Settlement
The movement of cash to settle trades, financing activity, fees, or operational obligations.
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Cash Tracking
Monitoring and attributing cash balances across counterparties and currencies, including automated margin-related cash movements.
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CBPR (Cross-Border Payments and Reporting)
A global SWIFT initiative that standardizes cross-border payment messaging and reporting under ISO 20022 to improve transparency, compliance, and straight-through processing.
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Centralized Payments Hub
A single operational layer that unifies cash, securities, and FX movements across all banks and payment channels.
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Counterparty Validation
Automated verification of beneficiary and settlement instructions to prevent misdirected or failed payments.
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Custodian
A financial institution responsible for safeguarding assets and facilitating settlements, cash movements, and corporate actions on behalf of investment funds and asset managers.
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D
Document Parsing
AI-driven extraction of structured payment data from unstructured inputs such as emails, PDFs, and trade tickets.
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Dual Authorization
A control mechanism requiring two independent approvals before a payment can be released.
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Duplicate Payment Detection
Automated checks that identify and prevent repeated or redundant payments.
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E
Exception Management
Workflow handling for failed, rejected, or flagged payments requiring review or correction.
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F
Failed Payment
A payment rejected due to incorrect instructions, insufficient funds, sanctions checks, or missed cut-offs.
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FedNow
A U.S. real-time payments rail enabling instant settlement between participating banks.
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Fraud Detection
Security controls that identify suspicious payment activity and prevent unauthorized transactions.
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FX Payments
Payments involving the exchange and settlement of funds in different currencies, typically used to support cross-border transactions and foreign currency obligations.
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I
IBAN (International Bank Account Number)
A standardized international format for identifying bank accounts, which is used to ensure accurate and efficient routing of cross-border payments.
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ISO 20022
A global financial messaging standard that enables richer, more structured payment data across SWIFT and non-SWIFT channels.
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Intraday Payment Monitoring
Real-time tracking of payments throughout the day to manage liquidity and resolve issues quickly.
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O
Open Banking
A framework that enables secure, API-based sharing of banking data and payment initiation between financial institutions and authorized third parties, improving real-time access and automation.
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P
Payment Audit Trail
A complete, time-stamped record of all actions taken on a payment, supporting governance and compliance.
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Payment Release
The final authorization step that sends a validated payment instruction to the bank.
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Payment Templates
Pre-configured payment formats used for recurring transactions such as fees or standard settlements.
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R
Real-Time Alerts
The process of tracking debt assumed by a fund. Leverage monitoring involves tracking loan-to-value ratios, debt-to-equity, and margin requirements to manage risk and ensure asset managers can meet financial obligations.
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Reconciliation Automation
Automated matching of executed payments with internal records to ensure accuracy and completeness.
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RTP (Real-Time Payments)
Instant payment rail enabling immediate cash settlement and confirmation.
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S
Straight-Through Processing (STP)
End-to-end automation of payment workflows without manual intervention
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SWIFT GPI
SWIFT’s global payments tracking capability that provides end-to-end visibility, fee transparency, and faster cross-border payments.
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Standard Settlement Instructions (SSI)
Predefined settlement details used to ensure accurate and consistent payment execution.
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SWIFT (Society for Worldwide Interbank Financial Telecommunication)
A global messaging network that enables secure, standardized communication for financial transactions, including cross-border payments and settlements.
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T
T+1 Settlement
A settlement cycle in which a transaction is completed one business day after the trade date, reducing counterparty and settlement risk.
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W
Wire Payments
High-value, time-sensitive cash transfers commonly used by hedge funds and asset managers.
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Wire Generation
Automated creation of wire instructions, including pair-off wires for repo and settlement activity.
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