Central Processing System


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Central Processing System

A computer system on which FAFSA data is processed. The CPS uses algorithms to determine post-secondary students' eligibility for federal financial aid.
References in periodicals archive ?
SVPCO's Image Network, the nation's premier image network platform, is the first large-scale image network that enables financial institutions of all sizes in all locations to exchange checks on a peer-to-peer basis without the need for a cumbersome central processing system.
Both the exchange and ASP product are fully scalable and integrated, permitting sharing of data and loan files within a central processing system.
The network enables financial institutions to exchange and settle check images peer-to-peer, without a cumbersome central processing system, thereby eliminating the expense of physically transporting paper checks.
Bottomline's Web Series will help DFA to automate these payments across multiple sites into a central processing system at the company's headquarters.
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