Is a company: no
Is a proper noun: no
- write in code
Definition of Encryption
- A method used to ensure the privacy and security of a customer's personal and financial information when using banking services over the Internet. Encryption scrambles the data that is being sent, so only the intended receiver can read the information. To be effective, encryption must be used by both the sender and receiver. Consumers should ensure encryption is being used before sending sensitive information over the Internet. CanEquity uses a encrypted server for all of our online applications.
Related Terms and Acronyms
- Mortgage Application — Definition, Very Important,
- A document in which a prospective borrower details his or her financial situation to qualify for a loan.
- Electronic Data Interchange (EDI) — Acronym,
- EDI is a system that companies use to exchange business information electronically, virtually eliminating paperwork.
- Browser — Definition,
- A computer software program used for accessing and viewing Internet Web sites.
- Twitter — Definition,
- A social network that limits messages to a length of 140 characters.
- Facebook — Definition,
- The world's most used social network launched in 2004.
- Society for Worldwide Interbank Financial Telecommunication (SWIFT) — Company,
- Global data processing system used by banks.
- FAQ — Definition,
- An acronym for "frequently asked questions."
- LinkedIn — Definition,
- A social network for professionals.
- Client-based Banking Software — Definition,
- Customers use money management software and their own computers to access the bank using a modem and a phone line.
- International Organization for Standardization (ISO) — Company Est. 1946, Geneva, Switzerland,
- An international organization created to promote standardization around the world.
- Online Banking (OLB) — Acronym, Important,
- Access by personal computer or terminal to bank information, accounts and certain transactions via the financial institution's web site on the Internet. Also known as Internet banking.
- Secure Socket Layer (SSL) — Acronym,
➥ Seen as 'https' in a web address (URL).
- A standard form of encryption used over the Internet for e-commerce and banking transactions.
- Personal Finance Manager — Definition,
- Specialized computer programs that help customers carry out a variety of personal finance activities. These programs typically allow consumers to do much of their work off-line, then dial in to complete their bank transactions.
- Key — Definition,
- A password needed to decipher encrypted data.
- Online Bill Payment — Definition,
- A service offered by online banks, usually for a small monthly fee, that relieves consumers from having to write cheques and lick stamps to pay their monthly bills. Online bill payment systems allow people to enter the names of their creditors and the numbers of their utility accounts and pay virtually all routine bills.