international banking Flashcards
encompasses a vast network of financial institutions, system, and services that facilitate cross border transaction
International
Banking
offshore banking
provide specialized services like tax optimization, asset protection, and wealth management
offshore banking
offer greater financial privacy, reduce tax burdens
Society for Worldwide Interbank Financial Telecommunication
SWIFT
enables secure, standardized, and reliable
electronic communication for financial transactions between banks
and other financial institutions worldwide
swift
to facilitate the efficient and accurate
transfer of funds, reduce the risk of errors, and promote financial
transparency globally
swift
the backbone for international money transfers and fostering seamless cross-border banking operations
swift
enables
banks to provide services and
access to financial systems in
locations where they do not have
a physical presence
Correspondent Banking
establish
reciprocal accounts, known as
“nostro” and “vostro” accounts,
to
facilitate
cross-border
transactions and the exchange of
local currency
correspondent banking
The adoption of advanced
technologies, such as digital
platforms, mobile banking,
and artificial intelligence, is
reshaping the international
bankinglandscape.
Digital Transformation
Blockchain-based
solutions
are being explored to enhance
the efficiency, transparency,
and security of cross-border
transactions
and
finance
Blockchain Innovation
Established
increasingly
banks
collaborating
with fintech firms to leverage
innovative technologies and
expand their global reach
Fintech Partnerships
There is a growing emphasis
on integrating environmental,
social, and governance (ESG)
considerations
into
international
banking
practices andinvestments
Sustainable Finance
