Definition of ABM (automated banking machine)

ABM (automated banking machine)

A bank machine, sometimes referred to as an automated teller machine (ATM).

Automated Clearing House (ACH)

A collection of 32 regional electronic interbank networks used to
process transactions electronically with a guaranteed one-day bank collection float.

Clearing House Automated Payments System (CHAPS)

A computerized clearing system for sterling funds
that began operations in 1984. It includes 14 member banks, nearly 450 participating banks, and is one of the
clearing companies within the structure of the Association for Payment Clearing Services (APACS).

Foreign banking market

That portion of domestic bank loans supplied to foreigners for use abroad.

International Banking Facility (IBF)

International banking Facility. A branch that an American bank
establishes in the United States to do Eurocurrency business.

Wholesale mortgage banking

The purchasing of loans originated by others, with the servicing rights
released to the buyer.

Machinery

The cost of machinery owned by the company.

ABM

see activity-based management
abnormal loss a decline in units in excess of normal expectations
during a production process

activity-based management (ABM)

a discipline that focuses on the activities incurred during the production/performance process as the way to improve the value received
by a customer and the resulting profit achieved by providing
this value

concentration banking

System whereby customers make payments to a regional collection center which transfers funds to
a principal bank.

Fractional Reserve Banking

A banking system in which banks hold only a fraction of their outstanding deposits in cash or on deposit with the central bank.

Automated Clearing House (ACH)

A banking clearinghouse that processes direct
deposit transfers.

Automated storage/retrieval system

A racking system using automated systems
to load and unload the racks.

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