Corporate Banking Services

How do the banks respond to the corporate requirements outlined in the previous chapter? Fundamentally, the bank acts as clearing and settlement agent for all payments initiated by its customers: salaries, taxes and benefits, domestic and cross-border accounts payables, crediting of receivables, etc. If the beneficiary’s account is with the same bank, settlement will take place ‘on us’ between the two accounts; if not, the payment will be sent to the appropriate clearing and settlement infrastructures, the bank becoming the first link in the settlement chain ending with the central bank. These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.