banking network
Money transfer infrastructure
A banking network is the interconnected system through which financial institutions communicate and process transactions.
This includes the infrastructure for ATM access, electronic fund transfers, and card payments.
Major networks like SWIFT handle international wire transfers, while domestic networks process everyday debit and credit transactions.
Their banking network was down, so I couldn't withdraw cash.
- ATMAutomated banking kiosk
- too big to failRequiring rescue due to scale
- credit unionsMember-owned financial cooperatives
- SWIFTBank messaging infrastructure
- online bankingInternet financial services
clearinghouses · account management · fraud detection · wealth management · blockchain · currency exchange · savings accounts · payment gateways · financial audits · financial advising · credit scoring · mobile banking · open banking · wire transfers · consumer protection laws · data centers · routing number · direct deposit
banking networkcash economy
Commerce using physical currency
underground economy · barter system · black market · loan shark · shadow banking
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