Correspondent Banking Explained





Cross border money transfer - Correspondent Banking

 http://www.bis.org/cpmi/publ/d147.pdf


Comments

Post a Comment

Popular posts from this blog

Application Lifecycle Management - SDLC with ALM

Image
SDLC with ALM  Development is certainly the fundamental part of application lifecycle management. Once the business case is approved, the software development lifecycle begins. If we expanded the SDLC parts of the Development line shown in the figure below, a modern process would probably show software development as a series of iterations. Each iteration would contain some requirements definition, some design, some development, and some testing. This iterative style of development isn’t always appropriate—some projects are still better done using more traditional methods—but it’s becoming the norm in many areas. Once the SDLC process for version 1 of the application is complete, the application is deployed. For most applications, however, deployment doesn’t mark the end of development. Instead, the application needs periodic updates, as shown in the figure, and perhaps one or more full SDLC efforts to create new versions, as in this example. For some applications, the...
Read more

Vostro and Nostro accounts

Image
The terms  nostro  and  vostro  are used, mainly by banks, when one bank keeps money at another bank. Both banks need to keep records of how much money is being kept by one bank on behalf of the other. In order to distinguish between the two sets of records of the same balance and set of transactions, banks refer to the accounts as  nostro  and  vostro . Speaking from the point of view of the bank whose money is being held at another bank: A  nostro  is our account of  our  money, held by the  other bank A  vostro  is our account of  other bank  money, held by  us A  vostro  account is the same as any other bank account. It is a record of money held by a bank or owed to a bank by a third party (an individual, company or bank). The  nostro  account is a way of the bank whose money it is, keeping track of how much is being held by the other bank. It is similar to an individu...
Read more

[Solution]:Sharepoint installation cant find SQL DB Server

Image
Today, the following command saved my day. EXEC xp_readerrorlog My SharePoint 2010 installation cant find the DB server. I was able to ping , tracert to the db server from my windows (SharePoint). The SQL server were running perfectly fine. My first suspect was the firewall. I disabled the servers firewall in both servers. This is fine to do because these are testing systems. But , my sharepoint installation still cant find the SQL server. After googling for few hours, i tried the above command to check which port was being used by the SQL service. The SQL service was using port 56033 ( i guess this because the dynamic port was set as 0 ). After i configure the TCP Port to 1433 and removed the dynamic port value, the SQL server start listening in 1433 and my SharePoint was able to find the SQL server now. Hope this helps someone out there. Happy troubleshooting!
Read more