Dictionary (I-N)

Term

Abbreviations

Definition

Labels

Synonyms

IaaS: Infrastructure-as-a-Service

IaaS

Infrastructure-as-a-Service is a cloud computing service that involves a method for delivering everything from operating systems to servers and storage through IP-based connectivity as part of an on-demand service. Clients can avoid the need to purchase software or servers, and instead procure these resources in an outsourced, on-demand service.

tech

IaaS, Infrastructure-as-a-Service

IANA: Internet Assigned Numbers Authority

IANA

The Internet Assigned Numbers Authority (IANA) is a standards organisation that oversees global IP address allocation, autonomous system number allocation, root zone management in the Domain Name System (DNS), media types, and other Internet Protocol–related symbols and Internet numbers.

gen, standards

IANA, Internet Assigned Numbers Authority

IBAN: International Bank Account Number

IBAN

International Bank Account Number is an internationally agreed system of identifying bank accounts across national borders to facilitate the communication and processing of cross border transactions with a reduced risk of transcription errors. An IBAN uniquely identifies a customer account at a financial institution. It was originally adopted by the European Committee for Banking Standards (ECBS) and since 1997 as the international standard ISO 13616 under the International Standards Organisation (ISO). The current version is ISO 13616:2020, which indicates the Society for Worldwide Interbank Financial Telecommunication (SWIFT) as the formal registrar. Initially developed to facilitate payments within the EU, it has been implemented by most European countries and numerous countries in other parts of the world. As of May 2020, 77 countries were using the IBAN numbering system. The IBAN consists of up to 34 alphanumeric characters comprising a country code; two check digits; and a number that includes the domestic bank account number, branch identifier, and potential routing information. The check digits enable a check of the bank account number to confirm its integrity before submitting a transaction. For more information, refer to this link .

fin

IBAN, International Bank Account Number

ICANN: Internet Corporation for Assigned Names & Numbers

ICANN

The Internet Corporation for Assigned Names and Numbers (ICANN) is a global multi-stakeholder group and non-profit organisation headquartered in the United States responsible for coordinating the maintenance and procedures of several databases related to the namespaces and numerical spaces of the Internet, ensuring the Internet's stable and secure operation.

tech, gen

ICANN, Internet Corporation for Assigned Names & Numbers

IDE: Integrated Development Environment

IDE

An Integrated Development Environment (IDE) is a software application that provides a comprehensive set of tools and features for coding, debugging, and testing. IDEs offer a user-friendly interface, code editors, compilers or interpreters, debugging tools, and other utilities that enhance the coding experience and streamline the development process.

tech

IDE, Integrated Development Environment

Idempotence

An API call or operation is idempotent if it has the same result no matter how many times it's applied. That is, an idempotent operation provides protection against accidental duplicate calls causing unintended consequences. So, idempotency is the property of an action or API request that produces the same system state or result, regardless of how many times it is executed. It ensures that retrying a request (e.g., after a network error) does not create duplicate transactions or unintended side effects, acting as a critical design pattern for building resilient, distributed systems.

tech

Idempotence, Idempotency

IEC: International Electrotechnical Commission

IEC

International Electrotechnical Commission is an international standards organisation that prepares and publishes international standards for all electrical, electronic, and related technologies – collectively known as \"electrotechnologies\". IEC standards cover a vast range of technologies from power generation, transmission & distribution to home appliances & office equipment, semiconductors, fibre optics, batteries, solar energy, nanotechnology, and marine energy as well as many others. The IEC also manages 4 global conformity assessment systems that certify whether equipment, systems, or components conform to its international standards. All electrotechnologies are covered by IEC Standards, including energy production and distribution, electronics, magnetics & electromagnetics, electroacoustic, multimedia, telecommunication, and medical technology, as well as associated general disciplines such as terminology and symbols, electromagnetic compatibility, measurement and performance, dependability, design and development, safety, and the environment.

gen

IEC, International Electrotechnical Commission

IMF: International Monetary Fund

IMF

An international organisation, based in Washington, D.C., with a membership of 190 countries (2021). It was established in 1945 to promote international monetary cooperation and exchange rate stability, to foster economic growth and high levels of employment and to help member countries to correct balance of payments imbalances.

gen

IMF, International Monetary Fund

Index

A database index is a structure that is created to allow for faster record finding within a table. An index allows the database system to look up data efficiently by keeping a separate structure for the values of specific columns. Queries that target the indexed columns can identify applicable rows in the table quickly by using a more efficient lookup strategy than checking each row line by line. Indexed columns improve read operations but do add overhead to write operations since both the table and the index must be updated. It is important to balance these two considerations when designing table indexes.

tech

Induced interrupt

Induced interrupt is a technique that involves forcing a breakpoint at certain points in a program at execution time, usually by altering the machine code instruction at that point (this might be an inserted system call or deliberate invalid operation) and waiting for an interrupt. When the interrupt occurs, it is handled by the testing tool to report the status back to a programmer. This method allows program execution at full speed (until the interrupt occurs) but suffers from the disadvantage that most of the instructions leading up to the interrupt are not monitored by the tool.

tech

Inflation

An increase in the general price level, e.g., in the consumer price index. See also deflation .

fin

Information

Information is data that has been “cleaned” of errors and further processed in a way that makes it easier to measure, visualise, and analyse for a specific purpose. Depending on this purpose, data processing can involve different operations such as combining different sets of data (aggregation), ensuring that the collected data is relevant and accurate (validation), etc. For example, we can organise our data in a way that exposes relationships between various seemingly disparate and disconnected data points. By asking relevant questions about ‘who’, ‘what’, ‘when’, ‘where’, etc., we can derive valuable information from the data and make it more useful for us. But when we get to the question of ‘how’, this is what makes the leap from information to knowledge.

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Information Sharing

The practice of exchanging relevant data and intelligence among financial institutions, regulatory bodies, and law enforcement agencies to combat money laundering and terrorist financing effectively. This process includes sharing details about suspicious transactions, customer identities, and risk assessments to enhance collective efforts in identifying and mitigating financial crimes. Information sharing helps build a comprehensive understanding of illicit activities, fosters collaboration, and ensures compliance with AML/CFT regulations, ultimately strengthening the integrity and security of the financial system.

fin, aml, gen

Inheritance

In object-oriented programming, inheritance is the mechanism of basing an object or class upon another object (prototype-based inheritance) or class (class-based inheritance), retaining similar implementation. Also defined as deriving new classes (subclasses) from existing ones such as super class or base class and then forming them into a hierarchy of classes. In most class-based object-oriented languages like C++, an object created through inheritance, a 'child object', acquires all the properties and behaviours of the 'parent object', with the exception of: constructors, destructors, overloaded operators & friend functions of the base class. Inheritance allows programmers to create classes that are built upon existing classes, to specify a new implementation while maintaining the same behaviours (realising an interface), to reuse code & to independently extend original software via public classes & interfaces. The relationships of objects or classes through inheritance give rise to a directed acyclic graph. An inherited class is called a subclass of its parent class or super class. The term inheritance is loosely used for both class-based and prototype-based programming, but in narrow use the term is reserved for class-based programming (one class inherits from another), with the corresponding technique in prototype-based programming being instead called delegation (one object delegates to another). Class-modifying inheritance patterns can be pre-defined according to simple network interface parameters such that inter-language compatibility is preserved. Inheritance should not be confused with subtyping. In some languages, generally statically-typed class-based OOP languages, like C++, C#, Java & Scala, inheritance and subtyping agree, whereas in others they differ. In general, subtyping establishes an is-a relationship, whereas inheritance only reuses implementation & establishes a syntactic relationship, not necessarily a semantic relationship (inheritance does not ensure behavioural subtyping). To distinguish these concepts, subtyping is sometimes referred to as interface inheritance (without acknowledging that the specialisation of type variables also induces a subtyping relation), whereas inheritance as defined here is known as implementation inheritance or code inheritance. Still, inheritance is a commonly used mechanism for establishing subtype relationships. Inheritance is contrasted with object composition, where one object contains another object (or objects of one class contain objects of another class). In contrast to subtyping’s is-a relationship, composition implements a has-a relationship.

tech

Injection Attacks

Injection attacks, a critical security threat, occur when malicious code is inserted into a system to alter its operation, with various types such as SQL and XPath Injections. Preventive strategies encompass input validation to scrutinise incoming data, using parameterized queries to maintain query intent, character escaping to avoid misinterpretation by interpreters, least privilege enforcement for restricting unnecessary access, and regular system updates and patching. The following are types of injection attacks: 1. SQL Injection (SQLi): most well-known type of injection attack. It occurs when an attacker can insert malicious SQL code into a query, which can then manipulate the database. SQL injections can lead to unauthorised access to data, data manipulation, and even data loss. 2. Cross-Site Scripting (XSS)L: while technically not an injection attack in the traditional sense, XSS shares many similarities and is often grouped with them. XSS occurs when an attacker can inject malicious scripts into web pages viewed by other users, leading to session hijacking, identity theft, or defacement of websites. 3. OS Command Injection: attacker can inject and execute OS commands in the server's operating system. It can result in full system control in the hands of the attacker. 4. LDAP Injection: manipulates LDAP statements. LDAP injections can lead to unauthorised access and information disclosure. 5. XML Injection: manipulates or compromises the logic of an XML application or service. It can lead to various outcomes, including unauthorised access to information and denial of service. 6. CRLF Injection: allows an attacker to manipulate HTTP headers and perform actions such as HTTP response splitting, session fixation, or cross-user defacement. 7. XPath Injection. similar to SQLi, XPath injections involve the injection of malicious XPath queries to manipulate XML data. It can lead to unauthorised access to data.

tech

Instrumentation

In computer programming, instrumentation is the act of modifying software so that analysis can be performed on it. Generally, instrumentation either modifies source code or binary code. Execution environments like the JVM provide separate interfaces to add instrumentation to program executions, such as the JVMTI, which enables instrumentation during program start. Instrumentation enables profiling: measuring dynamic behaviour during a test run. This is useful for properties of a program that cannot be analysed statically with sufficient precision, such as performance and alias analysis. Instrumentation can include logging events such as failures and operation start and end, as well as measuring and logging the duration of operations. So, instrumentation involves adding additional source code to the program at compile time to call the animator before or after each statement to halt normal execution. This functionality may be part of the runtime library or it may take the form of inserting a breakpoint instruction that triggers an external debugger if one is attached.

tech

Integration

The integration phase, often referred to as the third and last stage of the classic money laundering process, places laundered funds back into the economy by re-entering the funds into the financial system and giving them the appearance of legitimacy.

aml

Integration, Extraction

Interest

APR

Interest is a charge for borrowing money, typically expressed as a percentage of the principal amount borrowed. For lenders, it is the compensation for temporarily parting with their funds. Interest is the monetary charge for borrowing money—generally expressed as a percentage, such as an annual percentage rate (APR). Lenders may earn interest for using their funds or paid by borrowers for using those funds. Interest is often considered simple interest (based on the principal amount) or compound interest (based on principal and previously earned interest). Interest is often associated with credit cards, mortgages, car loans, private loans, savings accounts, or penalty assessments. Interest is highly dependent on macroeconomic policy dictated by the Federal Reserve's Federal funds rate.

fin

Intermediary Bank

An intermediary bank acts as a mediator between originating and receiving banks during international financial transactions when direct transfers aren't possible.

fin

Intermediary Bank

Interoperability

The set of arrangements/procedures that allows participants in different systems to conduct and settle payments or securities transactions across systems while continuing to operate only in their own respective systems.

fin

Interpol

Interpol (International Criminal Police Organisation) is a global organisation that facilitates cooperation between national police forces to combat international crime. It acts as a platform for sharing information, coordinating investigations, and building capacity for police in member countries.

aml, gen

Interpolation

Interpolation is a method used to estimate unknown values between known data points in a data set. It is a way to fill in gaps or predict values within the range of existing data. This is distinct from Extrapolation, which estimates values beyond the existing data range.

stats, fin

Interpreter

In computer science, an interpreter is a computer program that directly executes instructions written in a programming or scripting language, without requiring them previously to have been compiled into a machine language program. An interpreter generally uses one of the following strategies for program execution: • Parse the source code and perform its behaviour directly. • Translate source code into some efficient intermediate representation or object code and immediately execute that. • Explicitly execute stored precompiled bytecode made by a compiler and matched with the interpreter's virtual machine. 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

IoT: Internet of Things

IoT

The Internet of Things (IoT) is a name for the aggregate collection of network-enabled devices, excluding traditional computers like laptops and servers. Types of network connections can include Wi-Fi connections, Bluetooth connections, and near-field communication (NFC). IoT includes devices such as \"smart\" appliances, home security systems, computer peripherals, wearable technology, routers, and smart speaker devices.

tech

IP Address: Internet Protocol Address

Internet Protocol address is a numeric label assigned to each device participating in a network, such as a computer or a printer. Therefore, every host or device on a network and on the Internet must have a unique IP address to identify itself. The Internet Assigned Numbers Authority (IANA) manages the IP address space allocations worldwide and delegates five Regional Internet Registries (RIRs) to assign IP address blocks to local Internet registries.

tech

IP Address, Internet Protocol Address

IPC: Interprocess communication

IPC

Interprocess communication (IPC) is the sharing of data between running processes in a computer system, or between multiple such systems. Mechanisms for IPC may be provided by an operating system. Applications which use IPC are often categorised as clients and servers, where the client requests data and the server responds to client requests. Many applications are both clients and servers, as commonly seen in distributed computing. IPC is very important to the design process for microkernels and nanokernels, which reduce the number of functionalities provided by the kernel. Those functionalities are then obtained by communicating with servers via IPC, leading to a large increase in communication when compared to a regular monolithic kernel. IPC interfaces generally encompass variable analytic framework structures. These processes ensure compatibility between the multi-vector protocols upon which IPC models rely. An IPC mechanism is either synchronous or asynchronous. Synchronisation primitives may be used to have synchronous behavior with an asynchronous IPC mechanism.

tech

IPC, interprocess communication, inter-process communication

ISIN: International Securities Identification Number

ISIN

The International Securities Identification Number (ISIN) is a 12-character alphanumeric code that uniquely identifies securities globally, including stocks, bonds, warrants, and derivatives. Defined by ISO 6166, it facilitates clearing and settlement, ensuring consistent identification across markets, unlike ticker symbols which vary by exchange.

fin

ISIN, International Securities Identification Number

ISO 20022

ISO 20022 is an ISO standard for electronic data interchange between financial institutions. It describes a metadata repository containing descriptions of messages and business processes, and a maintenance process for the repository content. The standard covers financial information transferred between financial institutions that includes payment transactions, securities trading and settlement information, credit and debit card transactions and other financial information. The following parts make up this standard: • ISO 20022-1:2013 Metamodel • ISO 20022-2:2013 UML profile • ISO 20022-3:2013 Modeling • ISO 20022-4:2013 XML Schema generation • ISO 20022-5:2013 Reverse engineering • ISO 20022-6:2013 Message transport characteristics • ISO 20022-7:2013 Registration • ISO 20022-8:2013 ASN.1 generation

gen, standards

ISO 3166

The ISO 3166 standard (first edition: 1974), published by the ISO, consists of the following 3 parts: • The ISO 3166-1 standard (first edition: 1997) defines codes for names of countries, dependent territories & special areas of geographical interest. Official name is ‘Codes for the representation of names of countries & their subdivisions – Part 1: Country codes’. Access this list here . • The ISO 3166-2 standard (first edition: 1998) defines codes for identifying the principal subdivisions (e.g., provinces or states) of all countries coded in ISO 3166-1. Official name is ‘Codes for the representation of names of countries & their subdivisions – Part 2: Country subdivision codes’. • The ISO 3166-3 standard (first edition: 1999) defines codes for listing country names which have been deleted from ISO 3166-1. Official name is ‘Codes for the representation of names of countries & their subdivisions – Part 3: Codes for formerly used names of countries’.

gen, standards

ISO 3166, ISO 3166-1, ISO 3166-2, ISO 3166-3

ISO 4217

The ISO 4217 standard (first edition: 1978), published by the ISO, defines alphabetic codes and numeric codes for the representation of currencies. Access this list here .​

gen, standards

ISO 8601

ISO 8601 is an international standard covering the worldwide exchange and communication of date and time-related data. It was first published in 1988, with the latest amendment in 2022. The standard provides a well-defined, unambiguous method of representing calendar dates and times in worldwide communications, especially to avoid misinterpreting numeric dates and times when such data is transferred between countries with different conventions for writing numeric dates and times. In representations that adhere to the ISO 8601 interchange standard, dates and times are arranged such that the greatest temporal term (typically a year) is placed at the left and each successively lesser term is placed to the right of the previous term. Representations must be written in a combination of Arabic numerals and the specific computer characters (such as \"‐\", \":\", \"T\", \"W\", \"Z\") that are assigned specific meanings within the standard.

gen, standards

ISO: International Standards Organisation

ISO

International Standards Organisation (also known as International Organisation for Standardisation) is an international standard development organisation composed of representatives from the national standards organisations of member countries. ISO was founded on 23 February 1947, and (as of November 2022) it has published over 24,500 international standards covering almost all aspects of technology and manufacturing. It has 811 Technical committees and sub committees to take care of standards development. The organisation develops and publishes standardisation in all technical and nontechnical fields other than electrical and electronic engineering, which is handled by the IEC. It is headquartered in Geneva, Switzerland, and works in 167 countries as of 2023. The 3 official languages of the ISO are English, French, and Russian.

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International Standards Organisation, International Organisation for Standardisation, ISO

Isolation

In the context of databases, isolation is a property that describes how data and operations are visible within and between transactions. The level of isolation can be set by the database administrator or the query author to define the trade-offs between isolation levels and performance. Isolation is one of the key guarantees described by the ACID acronym.

tech

Isolation Company

A company that helps evaders avoid the appearance of involvement of either a sanctioned entity or an entity that is trying to do business with a sanctions target. Evaders choose an isolation company either for its past business activities or its lack of traceable connection to the entities involved in the evasive activity.

aml

ISS: Instruction Set Simulator

ISS

An instruction set simulator (ISS) is a simulation model, usually coded in a high-level programming language, which mimics the behaviour of a mainframe or microprocessor by 'reading' instructions and maintaining internal variables which represent the processor's registers. This technique treats a compiled program's machine code as its input 'data' and fully simulates the host machine instructions, monitors the code for conditional or unconditional breakpoints or programmer requested 'single cycle' animation requests between every step.

tech

ISS, Instruction Set Simulator

Issuer

A financial institution that makes payment cards available to cardholders, authorises transactions at point-of-sale (POS) terminals or automated teller machines (ATMs) and guarantees payment to the acquirer for transactions that are in conformity with the rules of the relevant scheme.

fin

Issuer, Card Issuer

ISXPay

ISX Pay is our unified payment platform with embedded fraud protection.

product

J-Curve

A J-curve depicts a trend line that shows an initial loss (i.e., sharp drop) immediately followed by a dramatic gain (i.e., sharp rise). The trend line ends in an improvement from the starting point. In economics, a J-curve shows how a currency depreciation causes a severe worsening of a trade imbalance followed by a substantial improvement.

fin

Java

A high-level, class-based, object-oriented programming language that is designed to have as few implementation dependencies as possible. It is a general-purpose programming language intended to let programmers write once, run anywhere (WORA), meaning that compiled Java code can run on all platforms that support Java without the need to recompile. Java applications are typically compiled to bytecode that can run on any Java virtual machine (JVM) regardless of the underlying computer architecture. The Java runtime provides dynamic capabilities (such as reflection and runtime code modification) that are typically not available in traditional compiled languages. Java is not to the confused with JavaScript.

tech

JDBC: Java Database Connectivity

JDBC

Java Database Connectivity (JDBC) is an application programming interface (API) for the Java programming language which defines how a client may access a database. It is a Java-based data access technology used for Java database connectivity. It is part of the Java Standard Edition platform. It provides methods to query and update data in a database, and is oriented toward relational databases. A JDBC-ODBC bridge enables connections to any ODBC-accessible data source in the Java virtual machine (JVM) host environment.

tech

JDBC, Java Database Connectivity

Join

In relational databases, a join is an operation that connects two tables based on a shared 'join' column or columns. The values within the join columns must be unique within each table. The join operation matches rows based on the join column values to create an extended virtual row composed of the columns from each table. Different types of joins are available based on what the user wants to do with rows that do not have a matching counterpart in the other table.

tech

Journal

A detailed accounting record that documents all the financial transactions of a business, to be used for the future reconciling of accounts and the transfer of information to other official accounting records, such as the general ledger. Entries are usually recorded using a double-entry method. Entries identify the account affected with a debit or credit—the totals of which must be equal.

fin

JQ: JQuery

JQ

jQuery is a JavaScript framework designed to simplify HTML DOM tree traversal and manipulation, as well as event handling, CSS animation, and Ajax. JQ's syntax is designed to make it easier to navigate a document, select DOM elements, create animations, handle events, and develop Ajax applications. JQ also provides capabilities for developers to create plug-ins on top of the JavaScript library. This enables developers to create abstractions for low-level interaction and animation, advanced effects and high-level, theme-able widgets. The modular approach to the JQ library allows the creation of powerful dynamic web pages and Web applications.

tech

JQ, JQuery

JS: JavaScript

JS

JavaScript is programming language that is one of the core technologies of the web, alongside HTML and CSS. JS is a high-level, often just-in-time compiled language that conforms to the ECMAScript standard. It has dynamic typing, prototype-based object-orientation, and first-class functions. It is multi-paradigm, supporting event-driven, functional, and imperative programming styles. It has application programming interfaces (APIs) for working with text, dates, regular expressions, standard data structures, and the Document Object Model (DOM). JS does not include any input/output (I/O), such as networking, storage, or graphics facilities. In practice, the web browser or other runtime system provides JS APIs for I/O. JavaScript is not to be confused with Java.

tech

JS, JavaScript

JSON Schema

JSON

JSON Schema is a declarative language that allows developers to annotate and validate JSON documents. JSON Schema is an open industry standard that enables the confident and reliable use of the JSON data format. JSON Schema is often used for purposes beyond those for which it was designed, such as code generation, UI or form generation, and test data generation.

tech

JSON, JSON Schema, JavaScript Object Notation

JSON: JavaScript Object Notation

JSON

JavaScript Object Notation is a lightweight data-interchange format based on a subset of the JavaScript programming language standards. JSON has the advantage that it is both easy for humans to read and write and for machines to parse and generate. It is a format that is completely agnostic to languages and uses conventions that are familiar to programmers of the C-family of languages.

tech

JSON, JavaScript Object Notation

Just-in-time (JIT) compiler

JIT

A just-in-time (JIT) compiler is a compiler that translates program code, often bytecode, into native machine code during the program's execution, rather than before. This real-time translation makes programs run faster by converting frequently used code sections into highly optimized machine instructions that the host CPU can execute directly. JIT compilers improve performance by balancing the speed of interpretation with the speed of a fully compiled program, often found in environments like the Java Virtual Machine (JVM) and JavaScript engines.

tech

JIT compiler, Just-in-time compiler

Karnaugh map

A way of arranging the truth table for a Boolean expression to facilitate simplification.

tech

KBA: Knowledge-Based Authentication

KBA

Knowledge-Based Authentication is an authentication method based on a series of knowledge questions that are used to verify a person's identity in order to prevent access of an unauthorised person to an account.

tech

KBA, Knowledge-Based Authentication

Kebab Case

A common naming convention where words are separated by hyphens (-) and each word is in lowercase. Example: customer-data.json

tech

Kendall's Tau

Kendall's Tau, also known as Kendall's τ coefficient, is a statistical measure used to assess the ordinal association between two variables. It quantifies the similarity in the ranking of data points between the two variables, regardless of the actual values of those variables. Essentially, it determines how well the order of one variable corresponds to the order of the other.

stats

Kendall's Tau, Kendall's τ Coefficient

Kernelisation

Kernelisation is a technique for designing efficient algorithms that achieve their efficiency by a preprocessing stage in which inputs to the algorithm are replaced by a smaller input, called a 'kernel'. The result of solving the problem on the kernel should either be the same as on the original input, or it should be easy to transform the output on the kernel to the desired output for the original problem. Kernelisation is often achieved by applying a set of reduction rules that cut away parts of the instance that are easy to handle.

tech

Key

In the context of databases, a key is any attribute, column, or group of attributes or columns that can be used to uniquely identify individual rows. Some pieces of data can be used as a key because of their natural uniqueness (a natural key) while other data sets may need to generate a key to identify each record (a surrogate key). Each table or data collection can have multiple keys that uniquely identify a row (called candidate keys), but typically, there is a main key (called the primary key) designated as the main way to access rows.

tech

Keycloak

Keycloak is an open-source software product to allow single sign-on with identity and access management aimed at modern applications and services.

tech

Kickback

A kickback is an illegal payment intended as compensation for preferential treatment or any other type of improper services received. Kickbacks are often referred to as a type of bribery. Kickbacks can take many forms but they all feature some sort of collusion between 2 parties. A kickback may be money, a gift, credit, or anything of value. Paying or receiving kickbacks is a corrupt practice that interferes with an employee's or a public official’s ability to make unbiased decisions.

aml

Kiting

Kiting is the fraudulent use of a financial instrument to obtain additional credit that is not authorized. Kiting encompasses 2 main types of fraud: Issuing or altering a cheque or bank draft, for which there are insufficient funds; and misrepresenting the value of a financial instrument for the purpose of extending credit obligations or increasing financial leverage.

aml

Knowledge

“How” is the information derived from the collected data relevant to our goals? “How” are the pieces of this information connected to other pieces to add more meaning and value? And, maybe most importantly, “how” can we apply the information to achieve our goal? When we don’t just view information as a description of collected facts, but also understand how to apply it to achieve our goals, we turn it into knowledge. This knowledge is often the edge that enterprises have over their competitors. As we uncover relationships that are not explicitly stated as information, we get deeper insights. But only when we use the knowledge and insights gained from the information to take proactive decisions, we can say that we have reached ‘Wisdom’.

gen

Kolmogorov-Smirnov Test

KS

The Kolmogorov-Smirnov test is a statistical test used to compare the cumulative distribution functions (CDFs) of two data sets. It can be used to determine if two samples came from the same distribution, or to test if a sample came from a specific distribution. The test is non-parametric, meaning it does not assume any specific underlying distribution of the data. It compares a sample distribution with a reference distribution (e.g. a normal distribution) or compares two distributions.

stats

KS, Kolmogorov-Smirnov Test

Kotlin

Kotlin is a statically typed programming language, designed to be concise and interoperable with Java, and it is used in various applications like Android development, server-side development, and multi-platform development.

tech

Kruskal-Wallis Test

The Kruskal-Wallis test is a non-parametric method for comparing two or more independent groups to see if they come from the same distribution. It is often used as an alternative to one-way ANOVA when the data does not meet the assumptions of normality. Essentially, it tests whether the medians of the groups are significantly different.

stats

Kruskal-Wallis Test, H-Test

Kurtosis

Kurtosis is a statistical measure used to describe a characteristic of a dataset. Kurtosis describes the 'fatness' of the tails found in probability distributions. There are 3 kurtosis categories: mesokurtic (normal), platykurtic (less than normal), and leptokurtic (more than normal). Kurtosis risk is a measurement of how often an investment’s price moves dramatically. A curve’s kurtosis characteristic tells you how much kurtosis risk there is for the investment you’re evaluating.

stats

KYB: Know Your Business

KYB

Know Your Business is a mandatory due diligence process used by financial institutions and businesses to verify the legitimacy, ownership structure, and risk profile of corporate clients. It involves identifying Ultimate Beneficial Owners (UBOs) and screening for fraud or money laundering, often referred to as corporate KYC or business verification.

aml

Know Your Business, KYB, corporate KYC, business verification

KYC: Know Your Customer

KYC

Know Your Customer, also known as Know Your Client, are guidelines and regulations in financial services that require professionals to verify the identity, suitability, and risks involved with maintaining a business relationship with a customer. The procedures fit within the broader scope of anti-money laundering (AML) and counter terrorism financing (CTF) regulations.

aml

Know Your Client, Know Your Customer, KYC

KYE: Know Your Employee

KYE

Anti-money laundering policies and procedures for acquiring a better knowledge and understanding of the employees of an institution for the purpose of detecting conflicts of interests, money laundering, past criminal activity and suspicious activity.

aml

KYE, Know Your Employee

Latency

The delay before a transfer of data begins following an instruction for its transfer. Also known as the total amount of time it takes for a request to complete.

tech

Layering

The second phase of the classic three-step money laundering process between placement and integration, layering involves distancing illegal proceeds from their source by creating complex levels of financial transactions designed to disguise the audit trail and to provide anonymity.

aml

LDAP Injection

LDAP injection is a code injection technique used to exploit web applications which could reveal sensitive user information or modify information represented in the LDAP (Lightweight Directory Access Protocol) data stores. LDAP injection exploits a security vulnerability in an application by manipulating input parameters passed to internal search, add or modify functions. When an application fails to properly sanitise user input, it is possible for an attacker to modify an LDAP statement.

tech

LDAP: Lightweight Directory Access Protocol

LDAP

The Lightweight Directory Access Protocol (LDAP) is an open, vendor-neutral, industry standard application protocol for accessing and maintaining distributed directory information services over an Internet Protocol (IP) network. Directory services play an important role in developing intranet & internet applications by allowing the sharing of information about users, systems, networks, services & applications throughout the network. As examples, directory services may provide any organised set of records, often with a hierarchical structure, such as a corporate email directory. Similarly, a telephone directory is a list of subscribers with an address & a phone number. A common use of LDAP is to provide a central place to store usernames & passwords. This allows many different applications and services to connect to the LDAP server to validate users. LDAP is a simpler ('lightweight') subset of the standards in the X.500 series, particularly the X.511 Directory Access Protocol. Because of this relationship, LDAP is sometimes called X.500 Lite.

tech

LDAP, Lightweight Directory Access Protocol, X.500 Lite

Lexeme

Lexemes are language-level units of meaning that are relevant in natural language processing and full-text search contexts. Typically, when text is indexed, it is broken down into individual tokens which are then analysed as lexemes using language-level resources like dictionaries, thesauri, and other word lists to understand how to process them further.

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Lexical analyser

In computer science, a lexical analyser (also known as a lexer, tokeniser or scanner) is the first phase of a compiler or interpreter that reads source code & breaks it into a stream of meaningful units called tokens. It performs tasks like removing whitespace & grouping characters into meaningful components such as keywords, identifiers, operators & constants, providing a structured input for the parser.

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Lexical analyser, Lexer, Scanner, Tokeniser

LexisNexis

LN,LexNex

LexisNexis is a data analytics company providing access to various online databases, including those for legal research, newspaper search, and consumer information.

aml

LN, LexNex, LexisNexis, Lexis Nexis

Liability

A present obligation of the enterprise arising from past events, the settlement of which is expected to result in an outflow from the enterprise of resources embodying economic benefits.

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Library

A library is a collection of prewritten code modules or functions that can be reused in different programs. Libraries provide ready-made solutions to everyday programming tasks, saving time and effort for developers. They can include functions, classes, and other resources that extend the capabilities of a programming language.

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LIFO: Last In First Out

LIFO

Last In First Out, in computer science, a method for organising the manipulation of a data structure where the newest entry is processed first.

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LIFO, Last In First Out

Linked List

A linked list is a linear data structure where each element, called a node, contains a value and a reference (or link) to the next node in the sequence. Unlike arrays, linked lists allow for efficient insertions and deletions, as they do not require shifting elements when modifying the list. This flexibility makes linked lists an important choice for various data management scenarios, especially when the number of elements can change frequently.

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Linker

A linker, or link editor, is a computer program that combines intermediate software build files such as object and library files into a single executable file such as a program or library. A linker is often part of a toolchain that includes a compiler and/or assembler that generates intermediate files that the linker processes. The linker may be integrated with other toolchain tools such that the user does not interact with the linker directly.

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linker, link editor

Liquidity

The ease and speed with which a financial asset can be converted into cash or used to settle a liability. Cash is thus a highly liquid asset. Bank deposits are less liquid, the longer their maturities. The term “liquidity” is also often used as a synonym for money.

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LLC: Limited Liability Company

LLC

A limited liability company (LLC) is a type of business structure that protects its owners from personal risk while offering the flexibility of a small business and the tax advantages of a partnership. An LLC is a corporate structure that protects its owners from being personally pursued for repayment of the company's debts or liabilities. Any entity or individual can be a member of an LLC, with the notable exceptions of banks and insurance companies. LLCs do not pay taxes on their profits directly. Their profits and losses are passed through to members, who report them on their individual tax returns.

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LLC, Limited Liability Company

Locale

In databases and computing in general, a locale specifies the region, language, country, and other pieces of contextual data that should be used when performing operations and rendering results. In databases, locale settings can affect things like column orderings, comparisons between values, spelling, currency identifiers, date and time formatting, and more. Defining the correct locale at the database server level or requesting the locale you need during a database session are essential for ensuring that the operations are performed will yield the expected results.

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Lock

In databases, a lock is a technique used to prevent modification of a database record or table in order to maintain consistency during certain operations. Locks can prevent any access to the locked resource or prevent only certain operations from being performed. They can be issued for a specific record or for an entire table. Because locks prevent concurrent operations from accessing the locked data, it is possible for locked data to impact performance and lead to resource contention.

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Logic Flaw

Business logic flaws result from faulty application logic. In simple terms, a logic flaw happens when an application, be it a web or mobile) behaves unexpectedly. A logic flaw allows attackers to misuse an application and circumvent its rules to change how it performs.

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Logic programming languages

A logic programming language creates a paradigm that is based on formal logic. By presenting a system of facts & rules, it lets computers solve computations on their own without the need for step-by-step instructions. In these languages, developers define rules & relationships typically in the form of clauses. The program then performs computations based on those rules using logical inference. This allows programmers to define problems using logical relationships & constraints rather than direct commands. Logic programming languages are often used in fields like artificial intelligence & computational linguistics for tasks that involve pattern matching and knowledge representation. Examples: Prolog Absys Datalog Use cases: Database management Predictive analysis AI applications (i.e., machine learning, natural language processing)

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Logical bitwise operation

Applies a logical operation to each bit of a binary string or to pairs of bits in two equal length binary strings.

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Loop

A loop is a programming construct that allows repetitive execution of a code block based on a specified condition. It helps automate tasks and process large amounts of data efficiently. Common loops include the for loop, while loop, and do-while loop.

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Loro Account

A loro account is an account that is maintained by one domestic bank for another domestic bank in the form of a 3rd party account (unlike nostro and vostro accounts which are a bilateral correspondence). Think of it as “their money on deposit at another bank”.

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Luhn algorithm

The Luhn algorithm (also known as \"modulus 10\" or \"mod 10\" algorithm), was created by IBM scientist Hans Peter Luhn in the late 1960’s, is a simple check digit formula used to validate a variety of identification numbers. The algorithm is in the public domain and is in wide use today. It is specified in ISO/IEC 7812-1. Note that the Luhn algorithm is not intended to be a cryptographically secure hash function. It was designed to protect against accidental errors, not malicious attacks. Most payment card numbers and many government identification numbers use the algorithm as a simple method of distinguishing valid numbers from mistyped or otherwise incorrect numbers. The Luhn \"mod N\" algorithm is an extension to the Luhn \"mod 10\" algorithm that allows it to work with sequences of values in any even-numbered base. This can be useful when a check digit is required to validate an identification string composed of letters, a combination of letters and digits, or any arbitrary set of N characters where N is divisible by 2.

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Luhn algorithm, modulus 10, mod 10

Maastricht Treaty

The Maastricht Treaty laid down the foundation for the European Union. The treaty was signed by 12 countries (i.e., Belgium, Denmark, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Spain, and United Kingdom & Northern Ireland) in the Dutch city of Maastricht in 1992 and went into effect in 1993. The agreement established greater cooperation between member states through economic, social, and legal channels. The Maastricht Treaty established the European Union's single currency system for the Euro. The treaty was amended a number of times between 1997 and 2009.

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Treaty on European Union, Maastricht Treaty

MAC: Message Authentication Code

MAC

Message Authentication Code or authentication tag, in cryptography, is a short piece of information used for authenticating a message, i.e., to confirm that the message came from the stated sender (its authenticity) and has not been changed. The MAC value protects a message's data integrity, as well as its authenticity, by allowing verifiers (who also possess the secret key) to detect any changes to the message content. This MAC acronym is not the be confused with the use of MAC as Media Access Control address (in communications).

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MAC, Message Authentication Code, Authentication Tag

Machine programming languages

Machine language, or machine code, is the lowest-level programming language. Because it is written in binary code, it is the only language a computer can directly execute without the need for translation. It is written in numeric strings of zeros & ones, where zeros represent an 'off' state absent of an electrical signal, whilst ones indicates an electrified 'on' state. These inputs directly manipulate a computer’s operations at the hardware level, including data movement, arithmetic & logic. Machine language is near impossible for a human to read & write, and is tailored to the architecture of each computer. Examples: ARM x86 RISC-V Use cases: Controlling a computer’s CPU and hardware

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Machine programming language, Machine language, Machine code

Malware

Malware is malicious software designed to infiltrate, disrupt, or damage computer systems, often without a user’s knowledge.

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Mandate for direct debits

The authorisation given by a payer to a payee (and/or the institution with which the payer’s account is held) consenting to the debiting of the payer’s account. See also direct debit & SEPA direct debit (SDD) .

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Mann-Whitney U Test

A non-parametric statistical test used to compare the distributions of two independent groups. It is an alternative to the independent samples T-Test when data is not normally distributed or when data is ordinal or nominal. This test determines if there is a significant difference in the medians between the two groups.

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Mann-Whitney U Test, Wilcoxon Rank-Sum Test

MANOVA: Multivariate Analysis of Variance

MANOVA

In statistics, multivariate analysis of variance (MANOVA) is a procedure for comparing multivariate sample means. As a multivariate procedure, it is used when there are two or more dependent variables, and is often followed by significance tests involving individual dependent variables separately. MANOVA differs from ANOVA as it tests for several dependent variables simultaneously, while ANOVA assesses only one dependent variable at a time.

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MANOVA, Multivariate Analysis of Variance

Markdown

Markdown is a lightweight markup language for creating formatted text using a plain-text editor. Markdown is widely used for blogging and instant messaging, and also used elsewhere in online forums, collaborative software, documentation pages, and readme files. Implementations of Markdown are available for over a dozen programming languages; in addition, many applications, platforms and frameworks support Markdown. While Markdown is a minimal markup language and is read and edited with a normal text editor, there are specially designed editors that preview the files with styles, which are available for all major platforms.

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Markup programming languages

Markup languages are text-encoding languages that are used to define structure, presentation & organiaation of page content. Made up of symbols, markup languages annotate text to enhance its formatting & layout, primarily for display in web browsers or other applications. Examples: HTML CSS XML Use cases: Web development UI design/UX design Document formatting

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Masspay

Masspay or payout instruction functionality enables a user to perform multiple payout requests with a single click. Efficiency & productivity are the main drivers of this feature as it allows a user to perform up to 1000 payouts in a single operation. Masspay functionality can take place via CSV file upload and API.

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Payouts, Masspay

mCommerce

Mobile commerce refers to business or purchases that are conducted over mobile devices like mobile phones or tablets. mCommerce lets users transact anywhere, provided that there's a wireless Internet provider available in that area. mCommerce has increased rapidly as security issues have been resolved.

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mCommerce, m-commerce, Mobile Commerce

MD5: Message Digest 5

MD5

Message Digest 5 is an algorithm that is a widely used hash function producing a 128-bit hash value. MD5 can be used as a checksum to verify data integrity against unintentional corruption. Historically it was widely used as a cryptographic hash function; however it has been found to suffer from extensive vulnerabilities. It remains suitable for other non-cryptographic purposes, e.g., for determining the partition for a particular key in a partitioned database, and may be preferred due to lower computational requirements than more recent SHAs.

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MD5, Message Digest 5

Mean

The mean is the mathematical average of a set of two or more numbers. The arithmetic mean and the geometric mean are two types of means. The geometric mean is a little more complicated to calculate but it can give an investor a more accurate measurement of an investment's performance.

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Mean, Average

Median

The median is the middle number of a dataset, in order from smallest to largest.

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Member State

A country that is a member of the European Union.

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Member State with a derogation

An EU Member State that is, as set out in Article 140 TFEU, preparing to adopt the euro, but has not yet done so. There are currently 5 Member States (the Czech Republic, Hungary, Poland, Romania and Sweden) with this status: rights and obligations relating to the introduction of the euro as a single currency do not apply to them. The case of Denmark is different in that this Member State has been granted an exemption from participating in the third stage of Economic and Monetary Union.

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Merchant

A merchant (vendor, seller or business) is a business that sells goods or services. Only merchants that accept cards as a form of payment are relevant. A merchant maintains a merchant account that enables it to accept cards as a payment method from cardholders for goods or services provided. So, a merchant uses a payment terminal, software and a gateway to transmit cardholder data and transaction details to their acquirer or processor.

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Vendor, Seller, Business, Merchant

Merchant Services

Services provided by payment service providers to businesses and merchants to enable them to accept payments from customers.

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Metadata

Refers to a set of data that helps identify datasets, providing details and context to describe that particular data better. It is an integral part of online content and data management, which helps users select specific keywords when searching online and allows creators to tag their content to be easily indexed and captured by search engines and website usage trackers.

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MFA: Multi-Factor Authentication

MFA

Multi-Factor Authentication is a multi-step account login process that requires users to enter more information than just a password. For example, along with the password, users might be asked to enter a code sent to their email, answer a secret question, or scan a fingerprint.

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MFI: Monetary Financial Institution

MFI

Financial institutions which together form the money-issuing sector of the euro area. These include the Eurosystem, resident credit institutions (as defined in EU law) and all other resident financial institutions whose business is to receive deposits and/or close substitutes for deposits from entities other than MFIs and, for their own account (at least in economic terms), to grant credit and/or invest in securities. The latter group consists predominantly of money market funds.

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MFI, Monetary Financial Institution

MICR: Magnetic Ink Character Recognition

MICR

A magnetic ink character recognition (MICR) line is the unique string of characters printed at the bottom left of a personal cheque that indicates the bank routing number, account number, and check number, enabling automated processing and preventing fraud. MICR numbers are designed to be readable by both individuals and sorting equipment. They can't be faked or copied, due to the use of magnetic ink and unique fonts. The benefits of the technology include the mechanisation of check processing and enhanced security against fraud. MICR was developed in the late 1950s and is now in use globally.

tech, fin

MICR, Magnetic Ink Character Recognition

Microservices

Also known as microservice architecture, refers to a software architecture style that structures apps as a collection of loosely coupled, independent, and highly maintainable services that are organised to enhance an app, website, or platform’s business capabilities.

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Microservices, Microservice Architecture

MiFID: Markets in Financial Instruments Directive

MiFID

MiFID stands for the Markets in Financial Instruments Directive. It is a European Union directive that regulates firms that provide services to clients linked to financial instruments and the venues where those instruments are traded. MiFID aims to increase competition and consumer protection in investment services, including requirements related to transparency, investor protection, and market integrity. While MiFID primarily focuses on securities markets, its provisions can intersect with Anti-Money Laundering (AML) requirements, particularly concerning customer due diligence and transaction monitoring in financial services.

fin, aml, legal

MiFID, Markets in Financial Instruments Directive

MITM: Man-In-The-Middle Attack

MITM

A Man-In-The-Middle (MITM) attack occurs when an unauthorized entity intercepts or alters the communication between two parties without their knowledge. This attack can target communications like email, web traffic, and more.

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MITM, Man-In-The-Middle

ML: Machine Learning

ML

Machine Learning (ML) is a subset of artificial intelligence where computer programs can automatically learn from and adapt to new data without human assistance. Machine learning is where a computer program can learn and adapt to new data without human intervention. A complex algorithm or source code is built into a computer that allows for the machine to identify data and build predictions around the data that it identifies. ML is useful in parsing the immense amount of data that is consistently and readily available in the world to assist in decision making. ML can be applied in a variety of areas, such as in investing, advertising, lending, organising news, fraud detection, and more.

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ML, Machine Learning

Mobile Banking

Mobile Banking is the act of making financial transactions on a mobile device (smartphone, tablet, etc.). This activity can be as simple as a bank sending fraud or usage activity to a client’s cell phone or as complex as a client paying bills or sending money abroad. Advantages to mobile banking include the ability to bank anywhere and at any time. Disadvantages include security concerns and a limited range of capabilities when compared to banking in person or on a computer.

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Mobile Device

A handheld machine: (i) connected to other devices or systems via radio technologies or via telecommunication networks based on wireless (“over-the-air”) technology (e.g. GSM/GPRS/UMTS/LTE, Wi-Fi, NFC, RFID, Bluetooth); (ii) designed with a multimedia interface for user interaction (e.g. display, keyboard, sound-speaker); (iii) equipped with a storage facility for “user identification data” (for instance a SIM card, other UICC, or a micro-SD card); and (iv) equipped with a mobile operating system.

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Mobile Money

A service that allows users to store eMoney and conduct financial transactions through their mobile devices, commonly used in regions with limited banking infrastructure.

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Mobile Payment

A payment where a mobile device is used at least for the initiation of the payment order and potentially also for the transfer of funds.

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Mobile Payment, m-Payment, mPayment

Mode

The mode is the number that occurs the most often in a dataset (i.e., the most common number in a dataset).

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Monetary base

Currency (banknotes & coins) in circulation plus the minimum reserves credit institutions are required to hold with the Eurosystem and any excess reserves they may voluntarily hold in the Eurosystem's deposit facility, all of which are liabilities on the Eurosystem's balance sheet. Monetary base is sometimes also referred to as the 'base money'.

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monetary base, base money

Money

An asset accepted by general consent as a medium of exchange. It may take, for example, the form of coins or banknotes or units stored on a prepaid electronic chip-card. Short-term deposits with credit institutions also serve the purposes of money. In economic theory, money performs three different functions: (1) a unit of account; (2) a means of payment; and (3) a store of value. A central bank bears the responsibility for the optimum performance of these functions and does so by ensuring that price stability is maintained.

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Money Laundering

The process of concealing or disguising the existence, source, movement, destination or illegal application of illicitly-derived property or funds to make them appear legitimate. It usually involves a 3 part system: placement of funds into a financial system, layering of transactions to disguise the source, ownership and location of the funds, and integration of the funds into society in the form of holdings that appear legitimate.

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Money Mule

Money mules are people who knowingly or, in certain cases, unknowingly help criminal organisations launder their illicit profits. They do this by providing their own accounts to help receive and transfer fraudulent funds, thereby 'legitimising' it.

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Money remitter

A payment service provider that accepts funds from a payer for the purpose of making them available to a payee, without necessarily maintaining an account relationship with the payer or payee.

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Money remitter, Remitter

Monitoring

An element of an institution's anti-money laundering program in which customer activity is reviewed for unusual or suspicious patterns, trends or outlying transactions that do not fit a normal pattern. Transactions are often monitored using software that weighs the activity against a threshold of what is deemed \"normal and expected\" for a customer.

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Monolith

A monolith is an application that is developed and deployed as a single unit. Its components are tightly coupled within a single codebase, and they often share resources, such as databases or libraries. Monolithic architectures have a long history and are still present in many legacy systems, but they also present several challenges. For instance, monoliths must be scaled as a whole, even if only a single component requires additional resources. They can also lead to longer development and deployment cycles, as the entire application must be rebuilt and redeployed for a change to take effect. Many teams are addressing these challenges by adopting microservices or mesoservices, which are smaller, more independent, and more scalable.

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Monolith, Monolithic Architecture

Multilateral Sanctions

Multilateral sanctions are restrictions supported by more than one country or entity. These can be imposed by allies against a common enemy or for the purpose of realising a greater economic and punitive impact.

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NAND

A Boolean operation that outputs True if either or both of the input values are False. It is the logical inverse of AND.

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Nesting

The practice where a respondent bank provides downstream correspondent services to other financial institutions and processes these transactions through its own correspondent account. The correspondent bank is thus processing transactions for financial institutions on which it has not conducted due diligence. While this is a normal part of correspondent banking, it requires the correspondent bank to conduct enhanced due diligence on its respondent's AML program to adequately mitigate the risk of processing the customer's customers' transactions.

aml, fin

Net settlement

The settlement of transfer orders on a net basis. See also gross settlement .

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Netting

In the context of clearing or settlement systems, the agreed offsetting of mutual obligations by participants in a system. This process involves the calculation of net settlement positions and their legal reduction to a (bilateral or multilateral) net amount. Netting may take several legal forms.

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NFC: Near Field Communication

NFC

Near Field Communication is the technology that allows two devices (e.g., a smartphone and a payments terminal) to talk to each other when they are in close proximity to one together. NFC is the technology that enables contactless payments. NFC is a set of communication protocols that enables communication between two electronic devices over a distance of 4 cm (1+1⁄2 in) or less. NFC offers a low-speed connection through a simple setup that can be used for the bootstrapping of capable wireless connections. Like other proximity card technologies, NFC is based on inductive coupling between two electromagnetic coils present on a NFC-enabled device such as a smartphone. NFC communicating in one or both directions uses a frequency of 13.56 MHz in the globally available unlicensed radio frequency ISM band, compliant with the ISO/IEC 18000-3 air interface standard at data rates ranging from 106 to 848 kbit/s.

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NFC, Near Field Communication

Node

A copy of the ledger operated by a participant with a blockchain network.

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Nominee

A person or entity named by another to act on its behalf. Nominees are commonly used in securities transactions to register and obtain legal ownership of securities.

gen, legal

Non-Parametric Test

Non-parametric tests are statistical tests that do not assume a specific distribution for the data.

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NOR

A Boolean operation that outputs True if both of the input values are False. It is the logical inverse of OR.

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Normal Distribution

Normal distribution, also known as the Gaussian distribution, is a probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean. The normal distribution appears as a 'bell curve' when graphed. The normal distribution is the proper term for a probability bell curve. In a normal distribution, the mean is zero and the standard deviation is 1. It has zero skew and a kurtosis of 3. Normal distributions are symmetrical, but not all symmetrical distributions are normal. A bell curve is a graph of a normal distribution. A bell curve is a graph depicting the normal distribution, which has a shape reminiscent of a bell. The top of the curve shows the mean, mode, and median of the data collected. Its standard deviation depicts the bell curve's relative width around the mean.

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Normal Distribution, Gaussian Distribution, Bell Curve

Normalisation

Database normalisation is a process of structuring a database to remove data redundancy and eliminate opportunities for inconsistencies to be introduced. Normalisation is often discussed in terms of 'normal forms' where each form adds additional checks and guarantees over the previous forms. In practice, data normalisation is often a trade-off between data integrity guarantees and performance, so structures are often not put into the highest level of normalisation possible.

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Normalization, Normalisation

NoSQL

The term NoSQL, short for \"not only SQL\", refers to non-relational databases that store data in a non-tabular format, rather than in rule-based, relational tables like relational databases do.

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NoSQL, Not Only SQL

Nostro Account

A nostro account is an account held by our bank, in foreign currency, at another bank. Think of it as “our money on deposit at your bank”. There are 2 forms of nostro accounts: • Omnibus1 holds our clients’ funds as an aggregate and we internally journal how the total amount is apportioned. • Corporate holds purely our funds and no client funds.

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NOT

A Boolean operation that outputs True if the input value is False and vice versa

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NS: NameServer

NS

A computer that runs a program for converting Internet domain names into the corresponding IP addresses and vice versa.

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NS, NameServer, Name Server

Null Hypothesis

A null hypothesis is a type of statistical hypothesis that proposes that no statistical significance exists in a set of given observations and is used to assess the credibility of a hypothesis by using sample data. A null hypothesis is a type of conjecture in statistics that proposes that there is no difference between certain characteristics of a population or data-generating process. The alternative hypothesis proposes that there is a difference. Hypothesis testing provides a method to reject a null hypothesis within a certain confidence level. If you can reject the null hypothesis, it provides support for the alternative hypothesis. Null hypothesis testing is the basis of the principle of falsification in science.

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Null pointer

nullptr,null

A null pointer (sometimes shortened to nullptr or null) or null reference is a value saved for indicating that the pointer or reference does not refer to a valid object. Programs routinely use null pointers to represent conditions such as the end of a list of unknown length or the failure to perform some action; this use of null pointers can be compared to nullable types and to the Nothing value in an option type. A null pointer should not be confused with an uninitialised pointer: a null pointer is guaranteed to compare unequal to any pointer that points to a valid object. It might compare equal to other, valid pointers; or it might compare equal to null pointers. It might do both at different times; or the comparison might be undefined behaviour. Because a null pointer does not point to a meaningful object, an attempt to access the data stored at that (invalid) memory location may cause a run-time error or immediate program crash. This is the null pointer error, or null pointer exception. It is one of the most common types of software weaknesses, and Tony Hoare, who introduced the concept, has referred to it as a \"billion dollar mistake\".

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null pointer, nullptr, null