Interbank Networks
Interbank networks are systems that allow different banks to communicate and process transactions with each other. These networks facilitate the transfer of funds, enabling customers to withdraw cash, make payments, and conduct other banking activities across various institutions. Examples of interbank networks include SWIFT and ACH.
These networks ensure that transactions are secure and efficient, often using standardized protocols to streamline communication. By connecting banks globally, interbank networks play a crucial role in the financial system, allowing for seamless international trade and commerce.