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Banking Essentials - Part I

This pathway will walk us through the basics of banks, starting with some of the different types and their main functions, then starting to look at the regulation faced by the banks, both before and after the Global Financial Crisis.

Greenwashing

Greenwashing is the act of distributing false information about something being more environmentally friendly than it actually is.

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Tackling the Cost of Living Crisis

In this video, Max discusses the cost-of-living crisis currently enveloping the UK. He examines its impact on households as well as the overall economy.

CSR and Sustainability in Financial Services

In the first video of this two-part video series, Elisa introduces us to sustainability. She begins by looking at the difference between sustainability and corporate social responsibility, two terms that can be easily confused.

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Featured Pathways

More pathways

Banking Essentials - Part I

This pathway will walk us through the basics of banks, starting with some of the different types and their main functions, then starting to look at the regulation faced by the banks, both before and after the Global Financial Crisis.

Greenwashing

Greenwashing is the act of distributing false information about something being more environmentally friendly than it actually is.

More pathways

Book a demo

Ready to get started?

Our Platform

Expert led content

+1,000 expert presented, on-demand video modules

Learning analytics

Keep track of learning progress with our comprehensive data

Interactive learning

Engage with our video hotspots and knowledge check-ins

Testing & certification

Gain CPD / CPE credits and professional certification

Managed learning

Build, scale and manage your organisation’s learning

Integrations

Connect Finance Unlocked to your current platform

Featured Content

More featured content

Tackling the Cost of Living Crisis

In this video, Max discusses the cost-of-living crisis currently enveloping the UK. He examines its impact on households as well as the overall economy.

CSR and Sustainability in Financial Services

In the first video of this two-part video series, Elisa introduces us to sustainability. She begins by looking at the difference between sustainability and corporate social responsibility, two terms that can be easily confused.

More featured content

Book a demo

Ready to get started?

Book a demo

Ready to get started?

Payment Scheme Types

Payment Scheme Types

Glossary
Banking

Payment Scheme Types

1. Real time gross settlement (RTGS) payment schemes Specialist fund transfer systems where the transfer of money takes place from one bank to another. These are typically used for high value transactions that require and receive immediate settlement. Settlement for each payment made through the scheme occurs at the time the payment is affected on a transaction by transaction basis. No payment can be made without the accompanying money. This method entirely removes any settlement risk associated with the banks instructing the payments. Payments are final and irrevocable. 2. Netting Schemes Banks using netting schemes exchange payments throughout the schemes working day. Settlement for these payments is made on a netted basis - payments received are tallied against payments made. The bank settles only the net amount. The final netted payment is usually made at close of scheme day, but to avoid end of day settlement risk where one party may fail during the course of the scheme day one or more designated settlement times during the day may be agreed. 3. Automated Clearing House (ACH) Schemes An ACH scheme is usually a batch based scheme used for making large volumes of payments such as standing orders, direct debits and payroll on a batched basis. ACH systems are not normally same day settlement schemes and are therefore most commonly used for low value, non-urgent payments or payments that can be initiated ahead of time to take place on a specific date. Settlement is normally on a netting basis.

Related terms