1. Submission Purpose of payment Choice of payment instrument Recipients details (BIC etc) Submit 2. Bank’s internal processing
Finding out the best fit line. so it can predict future value. line equation is : y = mx +c M- slope C- constant This is our hypothesis : 𝛉0 – constant 𝛉1 – Slope h(x) –
Error: predicted – actual values How far the predicted value from actual value MAE: average of absolute value of error Error gets positive and negative value. This positive and negative
PSD (Payment Services Directive) PSD (Payment Services Directive) was adopted in 2007 to create rules and guidelines for simplified, efficient modern payment services in the European Union. However,
BACS Bulk Electronic Debit and Credit ACH service for non-urgent payments; Sterling-denominated standing orders, DD and CT; domestic Euro CT Payments can be
IBAN (International Bank Account Number) Structure of IBAN Number The IBAN structure consists of maximum 34 characters and is composed of: 2 alphabetic characters for the ISO
Nostro Account, Vostro Account & Loro Account Nostro Account : In very simple terms “A Nostro is our account of our money, held by you” Nostro is derived from Latin word which means
What is a payment? A payment is a transfer of funds from payer to payee. Who is payer? A payer is the party to a payment transaction which issues the payment order or agrees to the transfer of funds