The Bank Administration Institute (BAI) is a nonprofit organization in the United States that works with the banking industry to improve the knowledge base and products of the industry. The membership of the BAI includes national and global banks, credit unions, mortgage and auto loan providers, money service businesses, and larger lending institutions.
For a fee (membership fee), BAI functions like a field marketing organization (FMO) or an independent marketing organization (IMO) does for the insurance industry, or a broker/dealer does for the investment industry. The goal of the BAI is to increase the profitability and reach of its members.
While it describes itself as working with the financial industry, the BAI doesn't include insurance companies or investment firms in it's membership. However, these firms are are traditionally called the financial services industry.
There's the financial services industry and the financial service industry. The use of "the" is subjective.
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Finance: What is a Routing Number?20 Views
finance a la shmoop what is a routing number of a routing number is so that
wired monies can you know like find their way home yeah think of them like [maze game]
the smell of worm to Canadian geese when you write a check or wire money or do [worms and Canadian geese]
almost anything financial these days the dough is given a kind of custom [card getting swiped]
electronic signature and basically a number a big fat one like this one yeah
and the numbers mean specific things like on a paper check the routing of the
dough you're paying to Lana sim for um you know services rendered comes in two [breakdown of a check]
pieces there's a nine digit routing number aka our TN aka routing transit
number which is here and that number is then mapped to your specific account
number which is here why did you need this number why do you need it at all
well when you suddenly see an item on your bank statement for a payment of [bank statement document]
$350 to Yamaka supply limited and you're about as Jewish as the Pope well you may [Pope Francis in the Vatican]
want your bank to be able to track that sucker down because it was fraud on your
account I'd like to be able to prove that you were not in fact the one who
authorized that payment so your bank can refund you you know your hard-earned
cash all right there we go much better yeah I am
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