Dictionary (C-D)

Term

Abbreviations

Definition

Labels

Synonyms

C-Sharp

C#

A general-purpose, high-level programming language supporting multiple paradigms. C# encompasses static typing, strong typing, lexically scoped, imperative, declarative, functional, generic, object-oriented (class-based), and component-oriented programming disciplines.

tech

C#, C-Sharp

Cache

Software or hardware component that stores data so users can access and retrieve that data faster. Cached data might be the result of a copy of certain data stored elsewhere. Cache reads data and retrieves it faster.

tech

Callback

Any executable code that is passed as an argument to other code that is expected to \"call back\" (execute) the argument at a given time. This execution may be immediate, as in a synchronous callback , or it might happen at a later time, as in an asynchronous callback .

tech

Camel Case

A common naming convention where words are concatenated without spaces, and each word after the first starts with a capital letter. Example: customerName, userEntity

tech

Cap

A quantitative limit on the funds or securities transfer activity of a participant in a system. Limits may be set by each individual participant or imposed by the entity managing the system. Limits can be placed on system participants’ net debit and/or net credit positions.

fin

Cap, Limit

Capital

Capital is a broad term for the money or other assets that are used by a business to generate returns. The capital of a business is the money it has available to pay for its day-to-day operations and to fund its future growth. The 4 major types of capital include working capital, debt, equity, and trading capital; trading capital is used by brokerages and other financial institutions. Any debt capital is offset by a debt liability on the balance sheet. The capital structure of a company determines what mix of these types of capital it uses to fund its business. Economists look at the capital of a family, a business, or an entire economy to evaluate how efficiently it is using its resources.

fin

Card acquirer

An acquirer is a financial institution that processes card payments on behalf of a merchant. It allows merchants to accept card payments from card-issuing banks within a network. An acquirer is a registered member of networks. It is also referred to as a merchant bank because they contract with merchants to create and maintain accounts (called merchant accounts) that allow a business to accept cards. An acquirer provides merchants with equipment and software to accept cards and handle the necessary aspects involved in card acceptance.

fin

card acquirer, acquirer, merchant bank

Card issuer

An issuer enables cardholders to pay for goods or services. It is a bank that has issued a card to a cardholder. An issuing bank is a registered member of networks. Issuers pay acquiring banks for purchases that their cardholders make. It is a cardholder’s responsibility to repay an issuer as per the terms of their card agreement.

fin

card issuer, issuing bank

Card network

A card network (card scheme or card association) is an organisation that facilitates payment card transactions. Networks regulate who, where, and how cards are used. Networks are not banks & do not issue cards or merchant accounts. Instead, they act as a custodian and clearing house for their respective card brands. They function as a governing body of financial institutions working together to support card processing and electronic payments. The main responsibility of a network is to govern members of their associations, in terms of interchange fees & qualification guidelines, acting as arbiter between issuer & acquirer.

fin

card network, card scheme, card association

Card Network

A card network (card scheme or card association) is an organisation that facilitates payment card transactions. It regulates who, where and how cards are used. It is not a bank and does not issue cards or merchant accounts. Instead, it acts as a custodian and clearing house for a card brand. It functions as a governing body of financial institutions working together to support card processing and electronic payments. The main responsibility of a network is to govern members of their associations, in terms of interchange fees and qualification guidelines, acting as arbiter between issuer and acquirer.

fin

Card Scheme, Card Association, Card Network

Card processor

A processor manages the card transaction process and acts as mediator between acquirer and issuer. In essence, it communicates data from a cardholder’s card to an acquirer and issuer. A processor checks details received from a cardholder’s card by forwarding them to its issuer for verification and carries out a series of anti-fraud measures against a transaction. Once a processor has received confirmation that card details are verified as approved or rejected, data is relayed back, via a payment gateway, to a merchant, who completes or declines a transaction.

fin

Card-on-File

A Card-on-File transaction occurs when a cardholder has authorised a merchant to store their payment details on file and charge the card when a purchase is made or a payment is due.

fin

Cardholder

A person to whom a payment card is issued and who is authorised to use that card.

fin

Buyer, Cardholder, Card Holder

Cascade

In relational databases, cascade is an option for how to handle deletes or updates for records that have related entries in other tables. Cascade means that the operation (delete or update) should be applied to the child, dependent rows as well. This helps you avoid orphaned rows in the case of deletes and out of sync values in the case of updates.

tech

CBDC: Central Bank Digital Currencies

CBDC

Issued by the public sector, a CBDC is a digital version of fiat currency & can be stored or transferred using internet & mobile applications. Not to be confused with eMoney, CBDC is digital in origin & issued only by a central bank. CBDC are separate from fiat currencies, backed by the authority & credit of a central bank & are another obligation of the institution.

fin

CBDC, Central Bank Digital Currencies

CCP: Central counterparty

CCP

An entity that interposes itself, in one or more markets, between the counterparties to the contracts traded, becoming the buyer to every seller and the seller to every buyer and thereby guaranteeing the performance of open contracts.

fin

CCP, Central Counterparty

Central bank

An institution which - by way of a legal act - has been given responsibility for conducting the monetary policy for a specific area.

fin, legal

CER: Canonical Encoding Rules

CER

Canonical Encoding Rules is a restricted variant of Basic Encoding Rules (BER) for producing unequivocal transfer syntax for data structures described by ASN.1. Whereas BER gives choices as to how data values may be encoded, CER (together with DER) selects just one encoding from those allowed by the basic encoding rules, eliminating the rest of the options. CER is useful when the encodings must be preserved; e.g., in security exchanges.

tech

CER, Canonical Encoding Rules

CFT: Countering the Financing of Terrorism

CFT,CTF

Countering the Financing of Terrorism (CFT) is a set of government laws, regulations, and other practices that are intended to restrict access to funding and financial services for those whom the government designates as terrorists. By tracking down the source of the funds that support terrorist activities, law enforcement may be able to prevent some of those activities from occurring.

aml

CFT, Countering the Financing of Terrorism, Combating the Financing of Terrorism, CTF, Counter Terrorist Financing

CGT: Capital Gains Tax

CGT

Capital Gains Tax is a tax paid by an investor upon selling their asset, based on the amount by which the asset appreciated during the time it was held. So, CGT are due when an investment is sold. CGT apply to capital assets that include stocks, bonds, digital assets like cryptocurrencies and NFTs, jewellery, coin collections, and real estate. Long-term gains are levied on profits of investments held for more than a year. Short-term gains are taxed on investments that are held for one year or less. Short-term gains are taxed at an individual's regular income tax rate which is typically higher than the tax on long-term gains.

fin

CGT, Capital Gains Tax

Chain

The cryptographic link that keeps blocks together using a hash function.

tech

Chaining

A method used in certain transfer systems for the processing of orders. This involves altering the sequence in which transfer orders are processed in order to increase the number or value of transfers that can be settled with the available funds and/or securities balances (or the available credit or securities lending lines).

fin

CHAPS: Clearing House Automated Payment System

CHAPS

Clearing House Automated Payment System is a real-time gross settlement payment system used for sterling transactions in the UK. A CHAPS transfer is initiated by a sender to move money to a recipient's account (at another banking institution), where funds need to be available (cleared) the same working day. CHAPS is used by 20 direct participants, including Bank of England, & over 4500 indirect participants (who process transactions via agency arrangements with direct participants). As well as making transfers originated by banks themselves, CHAPS is also used by businesses for high-value payments to suppliers, by mortgage lenders issuing advances, by solicitors & conveyancers on behalf of individuals buying houses.

fin

CHAPS, Clearing House Automated Payment System

Character encoding

Character encoding is the process of assigning numbers to graphical characters, especially the written characters of human language, allowing them to be stored, transmitted, and transformed using digital computers. The numerical values that make up a character encoding are known as \"code points\" and collectively comprise a \"code space\", a \"code page\", or a \"character map\".

tech

Chargeback

A chargeback is a payment amount that is returned to a debit or credit card after a customer successfully disputes a transaction. The chargeback process can be initiated by either a merchant or a cardholder’s issuing bank.

fin

Check digit

A check digit is a form of redundancy check used for error detection on identification numbers, such as bank account numbers, which are used in an application where they will at least sometimes be input manually. It is analogous to a binary parity bit used to check for errors in computer-generated data. It consists of one or more digits (or letters) computed by an algorithm from the other digits (or letters) in the sequence input. With a check digit, one can detect simple errors in the input of a series of characters (usually digits) such as a single mistyped digit or some permutations of two successive digits.

tech

Checksum

A checksum is a small-sized block of data derived from another block of digital data for the purpose of detecting errors that may have been introduced during its transmission or storage. By themselves, checksums are often used to verify data integrity but are not relied upon to verify data authenticity. The procedure which generates this checksum is called a checksum function or checksum algorithm. Depending on its design goals, a good checksum algorithm usually outputs a significantly different value, even for small changes made to the input. This is especially true of cryptographic hash functions, which may be used to detect many data corruption errors and verify overall data integrity; if the computed checksum for the current data input matches the stored value of a previously computed checksum, there is a very high probability the data has not been accidentally altered or corrupted. Checksum functions are related to hash functions, fingerprints, randomization functions, and cryptographic hash functions. However, each of those concepts has different applications and therefore different design goals. Checksums are used as cryptographic primitives in larger authentication algorithms. Check digits and parity bits are special cases of checksums, appropriate for small blocks of data (such as Social Security numbers, bank account numbers, computer words, single bytes, etc.). Some error-correcting codes are based on special checksums which not only detect common errors but also allow the original data to be recovered in certain cases.

tech

Cheque / Check

A written order from one party (the drawer) to another (the drawee; normally a credit institution) requiring the drawee to pay a specified sum on demand to the drawer or a third party specified by the drawer.

fin

Cheque, Check

CHF: Cryptographic Hash Function

CHF

Cryptographic Hash Function is a hash algorithm (a map of an arbitrary binary string to a binary string with fixed size of n bits) that has special properties desirable for a cryptographic application. CHFs have many information-security applications, notably in digital signatures, MACs, and other forms of authentication. They can also be used as ordinary hash functions, to index data in hash tables, for fingerprinting, to detect duplicate data or uniquely identify files, and as checksums to detect accidental data corruption.

tech

CHF, Cryptographic Hash Function

Chi-Square

χ2

Chi-square is a statistical measurement that shows how well a model fits the observed data. Chi-square is useful for analysing such differences in categorical variables, especially those nominal in nature. It depends on the size of the difference between actual and observed values, the degrees of freedom, and the sample size. It can be used to test whether two variables are related or independent of each other. It can also be used to test the goodness of fit between an observed distribution and a theoretical distribution of frequencies.

stats

χ2, Chi-Square

Chip Card

A chip card is a payment card that features an embedded microchip (along with the traditional magnetic stripe) for enhanced security and encryption when completing financial transactions. The chip provides consumers with additional security when making transactions at stores, terminals, or ATMs because they are harder to skim. A cardholder inserts their card into a chip-enabled terminal where the transaction is either approved or declined. Chip-&-PIN and chip-&-signature are two types of chip cards.

fin

Chip Card, Smart card

Chip-and-PIN

A chip-&-PIN card is a type of payment card that requires the cardholder to authorize the transaction by entering their Personal Identification Number (PIN). Chip-&-pin cards are less susceptible to fraud than previous generations of payment cards. These cards have embedded microchips, called EMV chips, that contain data about the card and cardholder. They may also have magnetic stripes, an older technology containing much the same information but more vulnerable to theft. Chip-&-PIN cards require the cardholder to enter a PIN that presumably only they know in order to complete a transaction. An alternative type of card, the chip-&-signature card, requires a signature but not a PIN and is considered less secure.

fin

Chip & PIN, Chip and PIN, Chip-and-PIN, Chip-&-PIN

CI/CD: Continuous Integration (CI) / Continuous Deployment (CD)

CI/CD

Continuous Integration (CI) / Continuous Deployment (CD) are a set of operating principles and a collection of practices and agile methodologies that enable development teams to deliver better and faster changes to their code. CI/CD is one of the most important DevOps practices as it gives teams the tools to focus on meeting their business requirements, code quality, and security needs.

tech

CI/CD, Continuous Integration (CI) / Continuous Deployment (CD), Continuous Integration / Continuous Deployment

Ciphertext

Ciphertext is encrypted text transformed from plaintext using an encryption algorithm. Ciphertext can't be read until it has been converted into plaintext (decrypted) with a key. The decryption cipher is an algorithm that transforms the ciphertext back into plaintext.

tech

Class

In programming, a class is a blueprint or template for creating objects. It defines the structure and behaviour (i.e., attributes and methods) that objects of that class will have. Essentially, a class is a user-defined data type that encapsulates data and functions that operate on that data.

tech

Clearing

The reconciliation and, in some cases, confirmation of transactions prior to settlement, potentially including their netting and the establishment of final positions for settlement. For the clearing of futures and options, this term also refers to the daily balancing of profits and losses and the daily calculation of collateral requirements.

fin

Clearing & settlement

An acquirer distributes transactions to a relevant network who, in turn, distribute transactions they receive to applicable issuers. Issuers charge cardholders’ accounts for each transaction before routing payments back through networks. Finally, networks transfer all requested funds to an acquirer.

fin

clearing, settlement

Clearing house

A common entity (or a common processing mechanism) through which participants agree to exchange transfer instructions for funds, securities or other instruments. In some cases, a clearing house may act as a central counterparty for those participants, thereby taking on significant financial risks.

fin

Clearing system

A set of rules and procedures whereby financial institutions present and exchange data and/or documents relating to transfers of funds or securities to other financial institutions at a single location (e.g., a clearing house). These procedures often include a mechanism for calculating participants’ mutual positions, potentially on a net basis, with a view to facilitating the settlement of their obligations in a settlement system.

fin

Client

A device that communicates with a server. A client can be a desktop computer, a laptop, a smartphone, or an IoT-powered device. Most networks allow communication between clients and servers as it flows through a router or switch.

tech

Cloud Computing

Refers to the delivery of different services through the Internet. These resources include tools and applications like data storage, servers, databases, networking, and software. Rather than keeping files on a proprietary hard drive or local storage device, cloud-based storage makes it possible to save them to a remote database. As long as an electronic device has access to the Internet, it has access to the data and the software programs to run it. Cloud computing is a popular option for people and businesses for a number of reasons including cost savings, increased productivity, speed and efficiency, performance, and security. Cloud computing is not a single piece of technology - rather it is a system comprised primarily of three services: Software-as-a-Service (SaaS), Infrastructure-as-a-Service (IaaS), and Platform-as-a-Service (PaaS).

tech

CNP: Card-not-Present

CNP

A card-not-present (CNP) transaction is a purchase made remotely without processing a physical card via a card reader or terminal (and without entering a PIN manually). Many common purchases are considered CNP transactions, including, online shopping, phone orders, card-on-file orders, mail orders, recurring payments, and online invoices.

fin

CNP, Card-not-Present

Code optimiser

A code optimizer is a program that improves existing software code by making it run faster, use less memory or consume less power, all without changing the program's core functionality. These optimisers can be built into compilers or operate as separate tools, including AI-powered assistants that leverage machine learning to identify & suggest improvements.

tech

CoE: Council of Europe

CoE

The Council of Europe is an international organisation with the goal of upholding human rights, democracy and the rule of law in Europe. Founded in 1949, it is Europe's oldest intergovernmental organisation, representing 46 member states from Europe. The organisation is distinct from the European Union (EU), although people sometimes confuse the 2 organisations – partly because the EU has adopted the original European flag, designed for the Council of Europe in 1955, as well as the European anthem. No country has ever joined the EU without first belonging to the Council of Europe. The Council of Europe is an official United Nations observer. Unlike the EU, the Council of Europe cannot make binding laws; however, the council has produced a number of international treaties, including the Convention for the Protection of Human Rights and Fundamental Freedoms (European Convention on Human Rights, ECHR) of 1953. Provisions from the convention are incorporated in domestic law in many participating countries. The best-known body of the Council of Europe is the European Court of Human Rights, which rules on alleged violations of the ECHR. The council's two statutory bodies are the Committee of Ministers, which comprises the foreign ministers of each member state, and the Parliamentary Assembly of the Council of Europe (PACE), which is composed of members of the national parliaments of each member state. The Commissioner for Human Rights is an institution within the Council of Europe, mandated to promote awareness of and respect for human rights within the member states. The secretary general presides over the secretariat of the organisation. Other major CoE bodies include the European Directorate for the Quality of Medicines & HealthCare (EDQM) and the European Audiovisual Observatory.

gen

CoE, Council of Europe

Collateral

A collateral refers to the valuable assets that a borrower pledges as security for a loan. So, a collateral is an item of value pledged to secure a loan. Collateral reduces the risk for lenders. If a borrower defaults on the loan, the lender can seize the collateral and sell it to recoup its losses. Mortgages and car loans are two types of collateralised loans. Other personal assets, such as a savings or investment account, can be used to secure a collateralised personal loan.

fin

Collation

Collation in databases refers to the ordering and comparison characteristics of different character systems. Most databases allow you to assign collation settings, which impact how text in the system are sorted, displayed, and compared against one another. Collation is often defined using a set of labels that describe the character set, language context, and different options about sensitivity or insensitivity to capitalisation, accents, and other character modifiers.

tech

Column

In a relational table, a column is a set of values of a particular data type. The term attribute is also used to represent a column.

tech

Attribute, Column

Commingling

Commingling refers to the act of mixing illicit funds with legitimate funds, making it difficult to trace the origin of the money. This technique is commonly employed by money launderers to disguise the illicit nature of their funds and integrate them into the legitimate financial system.

aml

Commit

In the context of databases, committing data is the process whereby you execute and durably store a set of proposed actions. Many databases are configured to automatically commit each statement as it is received by the system, but transactions, for example, are one mechanism through which you can control the commit behaviour of the database by grouping multiple statements together and committing them as a group. Committing in database is the action that is actually responsible for performing a permanent action on the system.

tech

Compiler

In computing, a compiler is a computer program that translates computer code written in one programming language (the source language) into another language (the target language). The name 'compiler' is primarily used for programs that translate source code from a high-level programming language to a low-level programming language (e.g. assembly language, object code, or machine code) to create an executable program. There are many different types of compilers which produce output in different useful forms. A cross-compiler produces code for a different CPU or operating system than the one on which the cross-compiler itself runs. A bootstrap compiler is often a temporary compiler, used for compiling a more permanent or better optimised compiler for a language. Related software include decompilers , programs that translate from low-level languages to higher level ones; programs that translate between high-level languages, usually called source-to-source compilers or transpilers ; language rewriters , usually programs that translate the form of expressions without a change of language; and compiler-compilers , compilers that produce compilers (or parts of them), often in a generic and reusable way so as to be able to produce many differing compilers. A compiler is likely to perform some or all of the following operations, often called phases: preprocessing , lexical analysis , parsing , semantic analysis (syntax-directed translation), conversion of input programs to an intermediate representation, code optimisation, and machine specific code generation. Compilers generally implement these phases as modular components, promoting efficient design and correctness of transformations of source input to target output. Program faults caused by incorrect compiler behaviour can be very difficult to track down and work around; therefore, compiler implementers invest significant effort to ensure compiler correctness. While interpretation and compilation are the two main means by which programming languages are implemented, they are not mutually exclusive, as most interpreting systems also perform some translation work, just like compilers. The terms \"interpreted language\" or \"compiled language\" signify that the canonical implementation of that language is an interpreter or a compiler, respectively. A high-level language is ideally an abstraction independent of particular implementations.

tech

Compliance

Refers to a focus on performing AML procedures that discourage and prevent potential violators from engaging in money laundering fraud or crime.

aml, fin

Compound Interest

Interest computed by applying the simple rate of interest to calculate interest on principal plus interest on successive increments of interest earned in prior periods.

fin

Comprehensive Sanctions

Sanctions that forbid the sanctioning country from carrying out any transactions or activities with a sanctioned country, except in rare and particular circumstances.

aml

Concurrency

The ability of different parts or units of a program, algorithm or problem to be executed out-of-order or in partial order, without affecting the final outcome. This allows for parallel execution of the concurrent units, which can significantly improve overall speed of the execution in multi-processor & multi-core systems. In more technical terms, concurrency refers to the decomposability property of a program, algorithm or problem into order-independent or partially-ordered components or units.

tech

Concurrency

Concurrency is the ability of a system to work on multiple tasks at once without affecting the overall result. Concurrency allows systems to execute operations in parallel, increasing the relative performance of the group of tasks.

tech

Condition

A condition is a logical expression that evaluates to either true or false. A conditional statement uses this evaluation to control the program's flow, directing it to execute different blocks of code based on the outcome. Common conditional statements include if , if-else & switch , which allow programs to make decisions & respond differently depending on criteria.

tech

condition, conditional, conditional statement, conditional construct, conditional expression

CONNECT Method

This HTTP method is used to start a two-way communications (a tunnel) with the requested resource.

tech

Consistency

Consistency is a property of data systems that means that the individual data entities do not conflict and continue to model the information they intend to even as changes are introduced. Each piece of data and change must be validated to ensure that it conforms to the rules imposed on the data structures and care must be taken to balance out any changes that should impact other data (like debiting and crediting different accounts at the same time).

tech

Constraint

A constraint is a limitation imposed on a specific column or table that impacts the range of values accepted by the system. Constraints are used to define rules that the database system can enforce to ensure that values conform to requirements.

tech

Constructor

ctor

In class-based, object-oriented programming, a constructor (sometimes abbreviated ctor) is a special type of function called to create an object. It prepares the new object for use, often accepting arguments that the constructor uses to set required member variables. A constructor resembles an instance method, but it differs from a method in that it has no explicit return type, it is not implicitly inherited and it usually has different rules for scope modifiers. Constructors often have the same name as the declaring class. They have the task of initialising the object's data members and of establishing the invariant of the class, failing if the invariant is invalid. A properly written constructor leaves the resulting object in a valid state. Immutable objects must be initialised in a constructor. Most languages allow overloading the constructor in that there can be more than one constructor for a class, with differing parameters. Some languages take consideration of some special types of constructors. Constructors, which concretely use a single class to create objects and return a new instance of the class, are abstracted by factories, which also create objects but can do so in various ways, using multiple classes or different allocation schemes such as an object pool.

tech

constructor, ctor

Contactless payment

A payment transaction using a card or other means where the payer and the merchant (and/or their equipment) are at the same physical location and where the communication between the portable device and the point of sale (POS) takes place through contactless technology.

fin

Cookie

An HTTP cookie is a small block of data created by a web server while a user is browsing a website and it is placed on their device by a user's web browser. Cookies are placed on a device used to access a website, and more than one cookie may be placed on a user's device during a session. Cookies serve useful and sometimes essential functions on the web. They enable web servers to store stateful data (e.g., items added in the shopping cart in an online store) or to track a user's browsing activity (e.g., clicking particular buttons, logging in, or recording which pages were visited in the past). They can also be used to save data that a user previously entered into form fields, such as names, addresses, passwords, and payment card numbers for subsequent use. Authentication cookies are commonly used by web servers to authenticate that a user is logged in, and with which account they are logged in. Without the cookie, users would need to authenticate themselves by logging in on each page containing sensitive information that they wish to access. The security of an authentication cookie generally depends on the security of the issuing website and a user's web browser, and on whether the cookie data is encrypted. Security vulnerabilities may allow a cookie's data to be read by an attacker, used to gain access to user data, or used to gain access (with a user's credentials) to the website to which the cookie belongs. Tracking cookies, and especially third-party tracking cookies, are commonly used as ways to compile long-term records of individuals' browsing histories — a potential privacy concern that prompted European and U.S. lawmakers to take action in 2011. European law requires that all websites targeting European Union member states gain 'informed consent' from users before storing non-essential cookies on their device.

tech

CoP: Confirmation of Payee

CoP

Confirmation of Payee (CoP) is an account name-checking service that is designed to help reduce misdirected payments and provide greater assurance that payments are being sent, and collected from, the intended account holder for UK domestic payments (applies only to FPS payments). 💡 This is a UK-specific service.

fin

CoP, Confirmation of Payee

Copenhagen criteria

The criteria defined by the Copenhagen European Council in June 1993 (and confirmed by the Madrid European Council in December 1995) that must be fulfilled by any country wishing to join the European Union. Included are political criteria (stable institutions guaranteeing democracy, the rule of law, human rights and respect for minorities), economic criteria (a functioning market economy) and the incorporation into national law of the acquis communautaire (the EU's body of law).

gen, legal

Copenhagen criteria, Accession criteria

CoreConnect

Probanx’s CoreConnect provides direct & quick access to SEPA schemes via the Central Bank of Lithuania’s CentroLink system. So, in essence, CoreConnect is a SEPA gateway. Whatever the license of a financial institution, we can provide both the technology & the expertise to guide them through the process of integrating SEPA payments directly into their own core systems. CoreConnect allows for the exchange of data with a financial institution's existing system or core banking via an API & converts it to an ISO XML format. This dynamic technology enables processing of all SEPA messages required to pass CentroLink acceptance testing. incoming payment

system

CorePlus

CorePlus is Probanx’s versatile core online banking solution. It brings together modules with an agile, modern user interface as well as a revolutionary architecture. It is built using Microsoft technologies that enable financial institutions to select functionalities & workflows that fit their specific needs. The flexible & functional breadth of CorePlus helps existing & potential clients implement their operational strategies, optimise back-office & client experience, whilst maintaining compliance & ensuring profitability. CorePlus is specifically designed & configured to simplify the operational management of a bank & to facilitate quick migration from legacy systems or manual procedures to a user friendly, modern & automated platform.

system

Corporation

A corporation is a business entity that offers its owners a degree of protection from liability. It is a legal entity that is separate and distinct from its owners. Corporations possess many of the same legal rights and responsibilities as individuals. A corporation may be created by an individual or a group of people. A corporation must file articles of incorporation in the state where it intends to register and operate. A corporation's managers and shareholders are not personally responsible for the company's legal or financial liabilities.

fin

Correlation

Correlation is a statistic that measures the degree to which 2 variables move in relation to each other. Correlation measures association, but doesn't show if x causes y or vice versa—or if the association is caused by a third factor. Correlation may be easiest to identify using a scatterplot, especially if the variables have a non-linear yet still strong correlation.

stats

Correlation Coefficient

Correlation coefficients are used to assess the strength of associations between data variables. The most common, called a 'Pearson correlation coefficient', measures the strength and direction of a linear relationship between 2 variables. Values always range from -1 for a perfectly inverse, or negative, relationship to 1 for a perfectly positive correlation. Values at or close to zero indicate no linear relationship or a very weak correlation. The coefficient values required to signal a meaningful association depend on the application. The statistical significance of a correlation can be calculated from the correlation coefficient and the number of data points in the sample, assuming a normal population distribution.

stats

Correspondent Bank

A correspondent bank is an authorized financial institution that provides services on behalf of another financial institution. A correspondent bank's services may include funds transfer, settlement, check clearing, and wire transfers. The accounts held between correspondent banks and the banks to which they are providing services are referred to as Nostro and Vostro accounts. Domestic banks can serve their international clients and gain access to foreign financial markets by using correspondent banks, rather than setting up branches overseas.

fin

Covariance

Covariance is a statistical measurement of the relationship between two random variables. Covariance is different from the correlation coefficient, a measure of the strength of a correlative relationship. In finance, covariance usually measures the relationship between the returns of two assets.

stats, fin

CPT: Card-Present Transaction

CPT

In-person payment where the card is physically present.

fin

CPT, Card-Present Transaction

CRA: Credit Reference Agency

CRA

A credit reference agency, also known as a credit bureau or credit reporting agency, is a company that collects and maintains information about individuals' credit histories and financial behaviours.

fin

CRA, Credit Reference Agency, Credit Bureau, Credit Reporting Agency

Credit

CR

A credit is an accounting entry that either increases a liability or equity account, or decreases an asset or expense account. It is positioned to the right in an accounting entry, and is offset by one or more debits. It is used in a double entry accounting system. Compare to a debit.

fin

CR, Credit

Credit Card

A card that enables cardholders to make purchases and/or withdraw cash up to a prearranged credit limit. The credit granted may be either settled in full by the end of a specified period, or settled in part, with the balance taken as extended credit (on which interest is usually charged).

fin

Creditor

A creditor is an individual or institution that extends credit to another party to borrow money usually by a loan agreement or contract. While the creditor is the entity that extends credit, a debtor is the legal party that accepts the credit or loan, owes the debt, and agrees to its repayment.

fin

CRLF Injection

CRLF,CR,LF

CRLF injection is a vulnerability that lets a malicious hacker inject carriage return (CR) and line feed (LF) characters to change the way a web application works or to confuse its administrator. There are two main malicious uses for CRLF injections: log poisoning (also called log injection, log splitting, or log forging) and HTTP response splitting. CR and LF are special characters of the ASCII table (13 and 10). They are also often referred to as \r\n after the escape codes of these two characters (\r = CR, \n = LF). CR and LF are used (together or separately) to signify the end of a line (EoL) in operating systems and Internet protocols, including HTTP. Windows uses the CRLF combination, operating systems like Linux/UNIX and current macOS use only LF for this purpose, and legacy Mac OS used only CR. In a log poisoning attack based on CRLF injection, a malicious hacker injects CRLF characters into web server log files to confuse both automatic log analysis systems and system administrators browsing the logs manually. In an HTTP response splitting attack, the attacker injects CRLF sequences into an HTTP response to modify the way the browser interprets HTTP headers and the request body. CRLF injections can be used to add malicious content to the request body or to add extra HTTP headers.

tech

CRLF Injection, Carriage Return Line Feed Injection

CRM: Customer Relationship Management

CRM

Customer Relationship Management is a process in which a business or other organisation administers its interactions with customers, typically using data analysis to study large amounts of information. CRM systems compile data from a range of different communication channels, including a company’s website, telephone, email, live chat, marketing materials and more recently, social media. They allow businesses to learn more about their target audiences and how to best cater for their needs, thus retaining customers and driving sales growth. CRM may be used with past, present or potential customers. The concepts, procedures, and rules that a corporation follows when communicating with its consumers are referred to as CRM. This complete connection covers direct contact with customers, such as sales and service-related operations, forecasting, and the analysis of consumer patterns and behaviours, from the perspective of the company.

tech, fin

CRM, Customer Relationship Management

Cross Correlation

Statistical term for the degree of similarity for two different sets of data.

stats

Cross-Border Payment

Any payment transaction that involves the transfer of funds between individuals or entities located in different countries.

legal, fin

CRUD: Create, Read, Update & Delete

CRUD

Create, Read, Update, & Delete refers to the necessary functions to implement a storage application, such as a hard drive. Unlike random access memory and internal caching, CRUD data is typically stored and organised in a database, which is simply a collection of data that can be viewed electronically.

tech

CRUD, Create, Read, Update, and Delete, Create, Read, Update & Delete

Cryptocurrencies

Cryptos are a digital currency designed using cryptography. They are digital assets existing across multiple computer networks. Peer-to-peer transactions are verified using cryptography, rather than a central 3rd party. This decentralized structure means that the currency operates independently to centralized currencies & the value of the currency is determined by supply & demand. Cryptos have no physical form & are stored in a digital wallet where they can then be used to make purchases. The crypto wrapper around a digital currency provides enhanced security & makes transactions tamper-resistant. Some widely known examples: Bitcoin & Ethereum.

fin

Cryptocurrencies

Cryptography

In computer science, cryptography refers to secure information and communication techniques derived from mathematical concepts and a set of rule-based calculations called algorithms, to transform messages in ways that are hard to decipher.

tech

CSP: Corporate Service Provider

CSP

Company Service Providers are entities or individuals providing corporate services, by way of business, including formation of companies, directorship/company secretary services and the provision of registered office, business, or correspondence address for businesses.

fin

CSP, Corporate Service Provider

CSS: Cascading Style Sheets

CSS

Cascading Style Sheets is a style sheet language used for describing the presentation of a document written in a markup language such as HTML or XML. CSS is a cornerstone technology of the web, alongside HTML and JavaScript.

tech

CSS, Cascading Style Sheets

CSV: Comma-Separated Values

CSV

A comma-separated values file is a delimited text file that uses a comma to separate values. Each line of the file is a data record. Each record consists of one or more fields, separated by commas. A CSV file typically stores tabular data (numbers and text) in plain text, in which case each line will have the same number of fields. More information regarding the CSV specification is found here .

tech

CSV, Comma-Separated Values

CT: Credit Transfer

CT

A set of procedures enabling a transfer of value by crediting a payee’s user account. This occurs by means of a payment transaction or a series of payment transactions from a payer’s user account carried out by the payment service provider which holds or administers the payer’s user account, based on an instruction given by the payer.

fin

CT, Credit Transfer

CTR: Cash Transaction Report

CTR

CTR is a report that financial institutions, such as banks, are required to submit to the relevant regulatory authorities, such as the local Finance intelligence unit (FIU) or similar organizations. CTRs are part of anti-money laundering (AML) and countering the financing of terrorism (CTF) efforts. A CTR is usually generated for every cash transaction above a certain threshold. The threshold can vary from country to country but is usually set at a relatively high level to focus on larger transactions.

aml, fin

CTR, Cash Transaction Report

cURL

cURL is a command line tool that facilitates the transfer of data to or from a server using various protocols, such as HTTP, HTTPS, FTP, FTPS, SCP, and SFTP. cURL is available on most operating systems, including Linux, macOS, and Windows, and it can be used in a terminal or from within a script. cURL is widely used to test APIs, debug network issues, and automate repetitive tasks. It is also used to add headers and cookies to requests, follow redirects, specify authentication credentials, and verify SSL/TLS certificates.

tech

Currency

Banknotes and coins that are in circulation as a medium of exchange. n

fin

Currency Peg

A currency peg is a national government policy that sets a specific fixed exchange rate for its country's currency with a foreign currency or basket of currencies. A currency peg can reduce uncertainty, promote trade, and boost economies.

fin

Cursor

A database cursor is a way for clients to iterate over records and query results in a controlled, precise manner. Cursors are primarily used to page through results that match a query one-by-one by iteratively returning the next row for processing. This can help you operate on an unknown number of records by accessing the results as a queue. Care must be taken when using cursors as they take up resources on the database system, can result in locking, and often result in many more network round trips than would be required otherwise.

tech

Cut-off time

The deadline set by a system (or an agent bank) for the acceptance of transfer orders for a given settlement cycle.

fin

CVM: Cardholder Verification Method

CVM

A Cardholder Verification Method (CVM) is a process used to ensure that the person using a payment card is the legitimate cardholder. CVMs are typically used to authenticate transactions at a point-of-sale (POS) terminal. Common CVM methods include PIN verification, signature verification, and Consumer Device Cardholder Verification Method (CDCVM). CVMs are used for fraud prevention, liability protection, and enhanced security.

fin

CVM, Cardholder Verification Method

CVV: Card Verification Value

CVV,CSC,CVC,CAV,CID,CVD,CVE,CVN,SPC,CCV,CIC

A Card Verification Value is a series of numbers that, in addition to the bank card number, is printed (but not embossed) on a credit or debit card. The CVV is used as a security feature for card not present transactions, where a Personal Identification Number (PIN) cannot be manually entered by the cardholder (as they would during point-of-sale or card present transactions). It was instituted to reduce the incidence of payment card fraud. Unlike the card number, the CVV is deliberately not embossed, so that it is not read when using a mechanical payment card imprinter which will only pick up embossed numbers. These codes are in slightly different places for different card issuers. The CVV for Visa, Mastercard, and Discover payment cards is a 3-digit number on the back of the card, to the right of the signature box. The CVV for American Express is a 4-digit code on the front of the payment card above the account number. Contactless cards and chip cards may electronically generate their own code, such as iCVV.

fin

CVV, Card Verification Value, CSC, Card Security Code, CVC, Card Verification Code, CAV, Card Authentication Value, CID, Card Identification Number, CVD, Card Verification Data, CVE, Elo Verification Code, CVN, Card Validation Number, Card Verification Number, SPC, Signature Panel Code, CCV, Card Code Verification, CIC, Card Identification Code

Cybercrime

Criminal conduct involving the use of computers or the internet. Cybercrime can involve acts such as online fraud, identity theft, and the use of virtual currencies to enable illicit financial transactions in the context of AML.

aml, tech

Cybersecurity

Cybersecurity is the practice of protecting systems, networks, and programs from digital attacks. These cyberattacks are usually aimed at accessing, changing, or destroying sensitive information; extorting money from users through ransomware; or interrupting normal business processes.

tech

Damm algorithm

In error detection, the Damm algorithm is a check digit algorithm that detects all single-digit errors and all adjacent transposition errors. It was presented by H. Michael Damm in 2004, as a part of his PhD dissertation entitled Totally Antisymmetric Quasigroups.

tech

Dangling pointer

A dangling pointer is a pointer that does not point to a valid object and consequently may make a program crash or behave oddly.

tech

Data

Data is a collection of facts in a raw or unorganised form such as numbers or characters. However, without context, data can mean little. For example, 12012012 is just a sequence of numbers without apparent importance. But if we view it in the context of ‘this is a date’, we can easily recognise 12th of January, 2012. By adding context and value to the numbers, they now have more meaning. In this way, data has been transformed from the raw sequence of numbers into information.

gen

Data Breech

A data breach occurs when unauthorized individuals access, retrieve, or steal secure or private information, often from a computer system or network.

legal

Data Cleaning

Data cleaning focuses on ensuring data accuracy, completeness, and consistency for analysis or decision-making, often involving identifying and fixing errors, duplicates, or missing values.

tech

Data Cleaning, Data Cleansing, Data Scrubbing

Data Controller

A data controller determines the purposes & means of the processing of personal data of data subject.

legal

Data Dictionary

A data dictionary, sometimes referred to as a metadata repository, is a central repository for details on the objects and the schema of a database. It includes metadata such as table names, column names, data types, restrictions, and table connections. A DBMS uses the data dictionary to verify queries, uphold data integrity, and offer details on the database architecture.

tech

Data Dictionary, Metadata Repository

Data integrity

In the context of data, the quality of being protected against accidental or fraudulent alteration in transmission or in storage. Alternatively, the quality of indicating whether or not such alteration has occurred.

tech

Data Lake

A data lake is a system or repository of data stored in its natural or raw format, usually object blobs or files. A data lake is usually a single store of data including raw copies of source system data, sensor data, social data etc., and transformed data used for tasks such as reporting, visualisation, advanced analytics, and machine learning. A data lake can include structured data from relational databases (rows and columns), semi-structured data (CSV, logs, XML, JSON), unstructured data (emails, documents, PDFs), and binary data (images, audio, video). Poorly managed data lakes have been called data swamps.

tech

Data Mining

Data mining is a process used by companies to turn raw data into useful information. Data mining is the process of analysing a large batch of data to discern trends and patterns. Data mining can be used by corporations for everything from learning about what customers are interested in or want to buy to fraud detection and spam filtering. Data mining programs break down patterns and connections in data based on what information users request or provide.

tech

Data Processor

A data processor processes personal data on behalf of a data controller.

legal

Data Sanitisation

Data sanitisation involves purposely, permanently deleting, or destroying data from a storage device, to ensure it cannot be recovered. Ordinarily, when data is deleted from storage media, the media is not really erased and can be recovered by an attacker who gains access to the device. There are 3 methods to achieve data sanitisation: • Physical destruction. • Cryptographic erasure. • Data erasure.

tech

Data Structure

A data structure organises and stores data in a computer's memory or storage system. It defines the relationships, operations, and access methods for efficiently manipulating and retrieving data. Data structures include arrays, linked lists, stacks, queues, trees, and graphs.

tech

Data Type

A data type is a category or attribute that expresses a constraint on valid values. For example, an integer type specifies that only whole numbers are appropriate and expected for a variable or field. Data types allow you to specify expectations and requirements about your data during when defining a field or container. The programming language or application can then validate that introduced data meets the necessary criteria. Data types are also help determine the available operations that can be performed on a piece of data.

tech

Data Warehouse

A data warehouse is the secure electronic storage of data over time by a business or other organisation. The goal of a data warehouse is to create a trove of historical data that can be retrieved and analysed to provide useful insight into the organisation's operations. A data warehouse is a vital component of Business Intelligence. New data is periodically added by people in various key departments such as marketing and sales. The warehouse becomes a library of historical data that can be retrieved and analysed in order to inform decision-making in the business. The key factors in building an effective data warehouse include defining the data that is critical to the organisation and identifying the sources of the data. A database is designed to supply real-time data. A data warehouse is designed as an archive of historical data.

tech

Database Federation

A database federation involves multiple independent databases functioning as a single logical database. Why use a database federation? • Useful when different databases serve different functions (e.g., user management, order processing). • Reduces complexity by keeping separate specialised databases.

tech

Database Schema

A database schema is a structure describing how data should be organised within a database system. It defines the format of each table, field, index, relation, function, and any other structures held within the database. The schema is the definition that tells the database system what the object looks like and what data is and is not allowed to be associated with the object.

tech

Database Transaction

A database transaction is a set of operations combined into a single unit that can be executed by a database system atomically. Transactions ensure that all of the operations within them are successfully completed or that they are all rolled back to return to the starting state. This helps preserve data integrity and allows for isolation between different unrelated actions that clients may make within a database. The guarantees provided by database transactions are summarised by the ACID (atomicity, consistency, isolation, and durability) properties.

tech

DB: Database

DB

An organised collection of structured information, or data, typically stored electronically in a computer system. A database is usually controlled by a DataBase Management System (DBMS). A database consists of several tables. Each table is made up of several rows (i.e., records). Each row is composed of several columns (i.e., fields).

tech

DB, Database

DD: Due Diligence

DD

Refers to an investigation, audit, or review performed to confirm facts or details of a matter under consideration. In the financial world, due diligence requires an examination of financial records before entering into a proposed transaction with another party.

aml

DD, Due Diligence

DDL: Data Definition Language

DDL

A data definition language, or DDL, is a set of commands or actions that are used to define database structures and objects. They are a key component to relational and other databases and are expressed as a subset of the available commands available to manage data in languages like SQL. Data definition language is the portion of the language dedicated to describing, creating, and modifying structures and the frameworks that will hold data.

tech

DDL, Data Definition Language

DDoS: Distributed Denial of Service

DDoS

A distributed denial of service (DDoS) attack is a malicious attack that aims at disrupting the target's traffic. It usually overwhelms the target's infrastructure with a flurry of internet traffic aimed at saturating the servers and causing them to shut the page down.

tech

DDoS, Distributed Denial of Service

Debit

DR

A debit is an accounting entry that either increases an asset or expense account, or decreases a liability or equity account. It is positioned to the left in an accounting entry, and is offset by one or more credits. It is used in a double entry accounting system. Compare to a credit.

fin

Debit, DR

Debit Card

A card enabling its holders to make purchases and/or withdraw cash and have these transactions directly and immediately charged to their accounts, whether these are held with the card issuer or not.

fin

Debtor

Debtors are individuals or businesses that owe money to financial institutions or individuals. While the creditor is the entity that extends credit, a debtor is the legal party that accepts the credit or loan, owes the debt, and agrees to its repayment.

fin

Debugger

A debugger is a computer program used to test and debug other programs (the 'target' programs). Common features of debuggers include the ability to run or halt the target program using breakpoints, step through code line by line, and display or modify the contents of memory, CPU registers, and stack frames. The code to be examined might alternatively be running on an instruction set simulator (ISS), a technique that allows great power in its ability to halt when specific conditions are encountered, but which will typically be somewhat slower than executing the code directly on the appropriate (or the same) processor. Some debuggers offer two modes of operation, full or partial simulation, to limit this impact. An exception occurs when the program cannot normally continue because of a programming bug or invalid data. For example, the program might have tried to use an instruction not available on the current version of the CPU or attempted to access unavailable or protected memory. When the program 'traps' or reaches a preset condition, the debugger typically shows the location in the original code if it is a source-level debugger or symbolic debugger, commonly now seen in integrated development environments. If it is a low-level debugger or a machine-language debugger it shows the line in the disassembly (unless it also has online access to the original source code and can display the appropriate section of code from the assembly or compilation).

tech

Decompiler

A decompiler is a computer program that translates an executable file back into high-level source code. Unlike a compiler, which converts high-level code into machine code, a decompiler performs the reverse process. While disassemblers translate executables into assembly language, decompilers go a step further by reconstructing the disassembly into higher-level languages like C. Due to the one-way nature of the compilation process, decompilers usually cannot perfectly recreate the original source code. They often produce obfuscated and less readable code.

tech

Deep Fake

A deepfake is a synthetic media — typically video or audio — that uses artificial intelligence and machine learning techniques to create realistic but fake representations of people. Deepfakes can manipulate existing images, videos, or sounds to make it appear that someone is saying or doing something they never actually said or did. This technology often relies on deep learning algorithms, particularly generative adversarial networks, to produce highly convincing results. Deepfakes can be used for various purposes, including entertainment, education, and malicious activities like misinformation, fraud, or identity theft.

aml

Definitions

The syntax for any properties intended to be used in API development.

tech

Deflation

A decline in the general price level, e.g., in the consumer price index. See also inflation .

fin

Degree of openness

A measure of the extent to which an economy depends on trade with other countries or regions, e.g., the ratio of the sum of total imports and exports to GDP.

fin

Delegation

In object-oriented programming, delegation refers to evaluating a member (property or method) of one object (the receiver) in the context of another original object (the sender). Delegation can be done explicitly, by passing the responsibilities of the sending object to the receiving object, which can be done in any object-oriented language; or implicitly, by the member lookup rules of the language, which requires language support for the feature. Implicit delegation is the fundamental method for behavior reuse in prototype-based programming, corresponding to inheritance in class-based programming. The best-known languages that support delegation at the language level are Self (which incorporates the notion of delegation through its notion of mutable parent slots that are used upon method lookup on self calls) & JavaScript.

tech

DELETE Method

This HTTP method deletes the specified resource.

tech

Depreciation

Depreciation involves expensing a fixed asset as it's used to reflect its anticipated deterioration.

fin

DER: Distinguished Encoding Rules

DER

Distinguished Encoding Rules is a restricted variant of Basic Encoding Rules (BER) for producing unequivocal transfer syntax for data structures described by ASN.1. Like DER encodings are valid BER encodings. DER is the same thing as BER with all but one sender's options removed. DER is a subset of BER providing for exactly one way to encode an ASN.1 value. DER is intended for situations when a unique encoding is needed, such as in cryptography, and ensures that a data structure that needs to be digitally signed produces a unique serialised representation. DER can be considered a canonical form of BER. DER is widely used for digital certificates.

tech

DER, Distinguished Encoding Rules

Destructor

dtor

In object-oriented programming, a destructor (sometimes abbreviated dtor) is a method which is invoked mechanically just before the memory of the object is released. It can happen either when its lifetime is bound to scope and the execution leaves the scope, when it is embedded in another object whose lifetime ends, or when it was allocated dynamically and is released explicitly. Its main purpose is to free the resources (memory allocations, open files or sockets, database connections, resource locks, etc.) which were acquired by the object during its life and/or deregister from other entities which may keep references to it. Destructors are necessary in resource acquisition is initialisation (RAII). With most kinds of automatic garbage collection algorithms, the releasing of memory may happen a long time after the object becomes unreachable, making destructors unsuitable for time-critical purposes. In these languages, the freeing of resources is done through an lexical construct (such as try-finally, Python's with, or Java's \"try-with-resources\"), or by explicitly calling a function (equivalent to explicit deletion); in particular, many object-oriented languages use the dispose pattern.

tech

destructor, dtor

Developer Portal

Interfaces that bridge the gap between API providers and API consumers. It’s called a developer portal because most of the API consumers are developers. Developer portals aim at educating developers on how to use APIs and provide all the information users need to leverage APIs.

tech

DevOps

DevOps is the integration and automation of the software development and information technology operations. DevOps encompasses necessary tasks of software development and can lead to shortening development time and improving the development life cycle. DevOps —a blending of development and operations— combines cultural philosophies, agile practices, and tools. DevOps practices aim at increasing an organization's ability to deliver software products and services faster than ever before. DevOps uses a toolchain made of interconnected technologies to build a software development infrastructure based on automation to achieve greater time-to-market speeds.

tech

DevSecOps

DevSecOps —a blending of development, security, and operations— refers to the automation and integration of security at every step of the DevOps lifecycle, from the initial design process all the way to software delivery. DevSecOps emphasises the need for proper security practices along the pipeline to enhance accountability and minimize data breaches.

tech

Digital Identity

A unique electronic identification that represents an individual or entity, used for authentication and access control in eMoney services.

fin, legal

Digital Money

Digital money (or digital currency) refers to money & any means of payment that exists purely in electronic form. Digital money does not have a physical & tangible form, such as a dollar bill or a coin, & is accounted for & transferred using online systems. Digital money streamlines financial infrastructure, making it cheaper & faster to conduct monetary transactions. It can also make it easier for central banks to implement monetary policy. Because software & networking are essential components of digital money, it is susceptible to hacks.

fin

Digital Payment

Any payments made using eMoney or digital currencies, typically through online transactions or mobile devices.

fin

Digital payment token

A digital representation of value backed by claims or assets denominated in euro or redeemable in euro, or referring to other digital assets that are accepted under the rules of an electronic payment instrument scheme for payment purposes or to discharge payment obligations in euro, and which enables the transfer of value between end users. Depending on the underlying design, digital payment tokens can be used to effect a transfer of value without necessarily involving a central third party and/or using payment accounts. The term digital payment token excludes the 'tokenisation' of sensitive data by a surrogate value which is conducted for security reasons to protect the original data and where the token does not represent an asset or claim recorded elsewhere.

fin

Digital signature

A string of data, generated by a cryptographic method, which is attached to an electronic message in order to guarantee its authenticity, identify the signatory and link the content to that signatory (thereby protecting the recipient against repudiation by the sender).

tech, fin

Electronic signature, Digital signature

Direct debit

A set of procedures enabling a transfer of value by debiting a payer’s user account. A payment transaction is initiated by the payee on the basis of the consent given by the payer to the payee, to the payee’s payment service provider, or to the payer’s own payment service provider.

fin

Disassembler

A disassembler is a computer program that translates machine language into assembly language—the inverse operation to that of an assembler. The output of disassembly is typically formatted for human-readability rather than for input to an assembler, making disassemblers primarily a reverse-engineering tool. Common uses include analysing the output of high-level programming language compilers and their optimisations, recovering source code when the original is lost, performing malware analysis, and modifying software (such as binary patching). A disassembler differs from a decompiler, which targets a high-level language rather than an assembly language.

tech

Disbursement

A disbursement is a payment to an individual or entity from a private or public fund. A disbursement may also be a payment made on behalf of a client to a third party. It may be money paid into a business' operating budget, the delivery of a loan amount to a borrower, or a dividend to shareholders.

fin

Discrete Distribution

A discrete distribution counts occurrences that have countable or finite outcomes. Discrete distributions contrast with continuous distributions, where outcomes can fall anywhere on a continuum. Common examples of discrete distributions include the binomial, Poisson, and Bernoulli distributions. These distributions often involve statistical analyses of 'counts' or 'how many times' an event occurs. In finance, discrete distributions are used in options pricing and forecasting market shocks or recessions.

stats

Discrete Probability Distribution, Discrete Distribution

Dispute Resolution

The process of handling and resolving disputes related to payment transactions, including chargebacks.

legal, fin

Divide & conquer algorithm

An algorithm design paradigm based on multi-branched recursion. A divide & conquer algorithm works by recursively breaking down a problem into two or more sub-problems of the same or related type, until these become simple enough to be solved directly. The solutions to the sub-problems are then combined to give a solution to the original problem.

tech

divide and conquer algorithm, divide & conquer algorithm, divide-and-conquer algorithm, divide-&-conquer algorithm

DLT: Distributed Ledger Technology

DLT

Distributed ledger technology (DLT) refers to a digital system that records transactions across multiple computers, ensuring data is synchronised and replicated across multiple distributed (physically or geographically) computer network participants (nodes). Blockchains are a type of distributed ledger that use consensus mechanisms to technically validate new data added to the ledger, making them publicly verifiable and immutable. This improves transparency and traceability, helping to reduce fraud compared to traditional databases.

tech, fin

DLT, Distributed Ledger Technology

Dodd-Frank Act

The Dodd-Frank Act (also known as the Dodd-Frank Wall Street Reform & Consumer Protection Act) is a United States federal law that places regulation of the financial industry in the hands of the government. The legislation, enacted in July 2010, aims to prevent another significant financial crisis by creating new financial regulatory processes that enforce transparency and accountability while implementing rules for consumer protection.

aml, legal

Dodd-Frank Act, Dodd-Frank Wall Street Reform & Consumer Protection Act

DOM: Document Object Model

DOM

Document Object Model is a cross-platform and language-independent interface that treats an HTML or XML document as a tree structure wherein each node is an object representing a part of the document. The DOM represents a document with a logical tree. Each branch of the tree ends in a node, and each node contains objects. DOM methods allow programmatic access to the tree; with them one can change the structure, style or content of a document. Nodes can have event handlers attached to them. Once an event is triggered, the event handlers get executed.

tech

DOM, Document Object Model

DORA: Digital Operational Resilience Act

DORA

The Digital Operational Resilience Act (DORA) is a regulation by the European Commission aimed at establishing a comprehensive framework for the operational resilience of the digital sector, including financial services, across the European Union (EU). DORA seeks to enhance the ability of firms to withstand and recover from cyber threats and incidents, ensuring the continuity of essential services and the protection of customer data.

gen

DORA, Digital Operational Resilience Act

Double-Entry Bookkeeping

Double-entry bookkeeping is an accounting principle where for each credit/debit entry made in one account, there is a corresponding entry in another account.

fin

Double-Entry Bookkeeping, Double-Entry Accounting

Downtime

The time that a server is not in operation.

tech

DPA: Digital Payment Application

DPA

A website, web or mobile application operated by a merchant, marketplace, or other service provider where consumer can purchase goods or services. A DPA, or mobile payment application, allows users to make payments for goods and services using their mobile devices. These apps typically act as digital wallets, storing payment card information and enabling online or in-store purchases.

fin

DPA, Digital Payment Application

DTD: Document Type Definition

DTD

The definition of a document type in XML, consisting of a set of markup tags and their interpretation.

tech

DTD, Document Type Definition

Dual Interface Chip Card

A dual interface chip card is a payment card with a single embedded chip that allows the card to be used in both contact and contactless transactions. The “contactless” part means it has an RFID or NFC chip that enables it to obtain the card’s identifying data and make payments through radio-frequency identification (RFID) or near-field communication (NFC) technologies. The “contact” part means it can be used with physical readers, either via a traditional magnetic stripe or because the chip can be dipped into an EMV reader. So, a dual interface chip card is a payment card with a single embedded chip that allows the card to be used in both contact and contactless transactions. The chip works in traditional physical EMV readers but also has radio technology that allows for no-contact use. Dual interface cards generally cost approximately twice as much to produce as a chip card.

fin

Dual Interface Chip Card, Integrated Circuit Card

Durability

Durability is a quality of data that signifies that it has been captured on persistent storage that will survive in the event of a program crash. Typically, this means flushing the data to a non-volatile storage medium like a hard drive that doesn't require electricity to maintain state.

tech