Multiple Bank

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Multiple Bank

A bank that provides more than one type of banking service. For example, a bank that provides retail services, investment banking services, and brokerage services is a multiple bank. In the United States, multiple banks have become more common since the repeal of the Glass-Steagall Act in 1999.
References in periodicals archive ?
Men have multi-bank relationships: Men are more likely than women to have accounts with multiple banks.
3SKey enables corporate users to 'sign' transactions with multiple banks using a single personal digital signature token.
NTT DATA's new gateway service manages bank transactions via its existing eBAgentA system, a cloud-based service for corporations using multiple banks, and converts transaction results data for Japanese yen accounts to the global ISO 20022 standard and other formats.
In the wake of the uncertain credit situation, corporations are realising the value of enhanced liquidity management to provide visibility into their cash flow and liquidity across multiple banks, accounts, countries and currencies.
And one of the reasons they opt for SWIFT's solution is its ability to rationalise and consolidate a number of different channels from multiple banks into a single point, with obvious benefits including:
Progressive area that includes upcoming multi-million dollar Arts Center, future Creative Village, multiple banks and other downtown business; future Sun rail station, and many other venues that are planned.
A treasury solution at its most basic level is a consolidation tool to retrieve and aggregate data from the multiple banks for which it holds accounts.
For large capacities, the heat exchanger can be of modular construction with multiple banks mounted directly in series to achieve the full thermal duty.
This forces depositors to spend a considerable amount of time and effort placing and monitoring deposits at multiple banks all over town and, in some cases, all over the country.
The '350 Patent, which was awarded to Island IP on May 19, 2009, is related to sweep technology that enables banks to offer expanded FDIC insurance coverage through multiple banks, while obtaining reciprocal deposits from a system of network banks based on the amount of funds the participating bank puts into the system, thereby keeping deposits on a bank's balance sheet to fund loan demand.
The system is planned for multiple banks and MFIs to be interconnected and offer mobile money services to their respective customers.
The service will feature interoperability and shared infrastructure designed for multiple banks and financial institutions to be interconnected, allowing partnering financial institutions to share each other's agent and branch network to serve each other's customers.
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