Correspondent

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Correspondent

A financial organization that performs services (acts as an intermediary) in a market for another organization that does not have access to that market.

correspondent

A financial organization such as a securities firm or a bank that regularly performs services for another firm that does not have the requisite facilities or the access to perform the services directly. For example, a member of a securities exchange may execute a trade for a nonmember firm.

Correspondent.

A correspondent is a financial institution, such as a bank or brokerage firm, that handles transactions on behalf of another financial institution that it can't complete on its own.

For example, if a US bank has a client who needs to make a payment to a supplier located overseas, the US bank would use its relationship with a correspondent bank in the supplier's home country to credit the supplier's bank account with money from its own client's account that had been transferred through an international payment system.

References in classic literature ?
I marvelled much how he, with a mind to correspond with his person, could fancy my idea of Catherine Earnshaw.
Though his face has a strange influence that must, I know, correspond to some unexplained power within me, yet it is not a perfect face.
That is enough," said Dorothea, "for with friends we must not look too closely into trifles; and whether it be on the shoulder or on the backbone matters little; it is enough if there is a mole, be it where it may, for it is all the same flesh; no doubt my good father hit the truth in every particular, and I have made a lucky hit in commending myself to Don Quixote; for he is the one my father spoke of, as the features of his countenance correspond with those assigned to this knight by that wide fame he has acquired not only in Spain but in all La Mancha; for I had scarcely landed at Osuna when I heard such accounts of his achievements, that at once my heart told me he was the very one I had come in search of.
In and out among the seats went hawkers, their arms laden with small pennants to correspond with the rival tents.