Terminology & Acronyms

Nexus terminology and equivalent terms

We use the following terms throughout the Nexus blueprint.
Term used in this document
Equivalents used elsewhere
Source
Originating country
Destination
Beneficiary
Instant Payment System (IPS)
Fast Payment System (FPS), Real-Time Payments (RTP)
Sender
Payer, Originating Customer, Ordering Customer, Debtor
Source Bank
Originating Bank (OB), Debtor’s Agent
Destination Bank
Beneficiary Bank, Creditor’s Agent
Recipient
Payee, Beneficiary

Acronyms used in the blueprint

Acronym
Term
AML
Anti-Money Laundering
API
Application Programming Interface
AVE
Account Validation and Enrichment
BIC
Bank Identifier Code
BSB
Bank State Branch (Australia only)
CFT
Countering the Financing of Terrorism
CPMI
Committee on Payments and Market Infrastructures
DLP
Destination Liquidity Provider
DNS
Deferred Net Settlement
FATF
Financial Action Task Force
FX
Foreign exchange
FXP
FX Provider
GBP
Great British Pound
IBAN
International Bank Account Number
IFSC
Indian Financial System Code
INR
Indian Rupee
IPS
Instant Payment System
IPSO
Instant Payment System Operator
KYB
Know Your Business (customer)