Welcome » IT Booklets » Wholesale Payment Systems » Intrabank Payment and Messaging Systems » Internally Developed and Off-The-Shelf Funds Transfer Systems » In-house Terminals
Some financial institutions employ terminals, connected via
telecommunications networks with customers and the institutions'
operating departments, to execute funds payment orders. These
systems may be dial-up or dedicated lines and are often fully
interfaced to the institution's funds payments system. The primary
security method is the use of unique passwords for each user of the
system. Since there is often no intervention by the funds payment
operation, it is necessary to establish controls directly in the
area employing the terminals. These controls should cover
origination, data entry, and release, and should be the same as
those associated with an independent funds payment function.