In the banking context, this term is used for representatives or agents of financial service providers (e.g., a clearing agent for CSMs, a paying agent for imprest accounts, or a bank agent for banks in general). In a technological sense, the term also refers to intelligent software agents, which denote software with some form of autonomous activity. For example, chatbots with artificial intelligence (AI) functionalities support customer advice, and agents are also used on electronic markets to identify and compare offers and to negotiate with providers (e.g., regarding price, delivery terms, payment conditions).
More Term Definitions
- Average Revenue Per User (ARPU)
- Atomic Swap
- API Banking
- Automated Teller Machine (ATM)
- Automated Market Maker (AMM)
