What is NEOBANK?
A neobank is basically a digital bank without any physical branches. It is entirely online without being present at any specific location.
A neobank can be a transactional platform for merchants, an account manager, or a lending service as well. Other prominent neobanks in India are Jupiter, RazorpayX, and Niyo. Amazon and Paytm are also making forays into this space. Globally, Revolut, Chime and Banco are the leading companies in this space.
Treasury Department of Bank
The treasury department of a bank is responsible for balancing and managing the daily cash flow and liquidity of funds within the bank. The department also handles the bank's investments in securities, foreign exchange and cash instruments.
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Difference between Instruction, Transaction and Messages
In Payment industry, sometimes you get confused when we should call a payment an 'Instruction' , a Transaction' or a 'Message'. Seems like they are all same in payment processing scenarios. But in MT and MX, there is a big difference among these three, I , T , M .
M - a message in MT/MX world can have multiple payment instructions by a client and a payment instruction can have multiple transactions ordered.
I - regarding instruction, every message would have at least one payment instruction and the instruction would have at least a transaction.
T - transaction is the actual granular unit that says what money has to be moved from debtor to creditor in a Credit transfer transaction.