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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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38% - Moderately

Client-based Banking Software


Synonyms:Windows based system, banking technology, client-centric application, client-side
Filed Under: financial-banking
Tags: banking
 

Definition of client-based banking software

client-based banking software
1. Before online banking using the Internet became popular, bank clients used a money management software application on their personal computers to access their bank accounts using a dial-up modem and a phone line. Clients were then able to conduct bank transactions from the comfort of their own homes.

Related Terms and Acronyms:

  • browser   A computer software program used for accessing and viewing Internet Web sites.
  • electronic filing (EF, NETFILE)   Taxpayers can now file their tax information with personal computers and tax preparation software. The information goes directly to Revenue Canada and they can directly deposit refunds into the taxpayer's bank account.
  • encryption   A method for ensuring the privacy and security of a consumer's personal finance information at a bank or financial institution Web site. Encryption is the process of scrambling data so that only the intended receiver can use it. To be effective, encryption needs to be used by both the sender and the receiver. Consumers should make sure it is being used when sending sensitive information. CanEquity uses a encrypted server for all of our online applications.
  • online banking (OLB)   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.
  • online bill payment   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.
  • pc banking   A service that allows a bank customer to obtain account information and perform certain bank transactions through a personal computer.
  • personal finance manager   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.

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