Dictionary of Banking Terms: back office
back office
area in a bank where checks are paid, deposits and withdrawals are posted to accounts, and interest earned on deposits is credited to the account holders.
Dictionary of Business Terms: back office
back office
bank or brokerage house departments not directly involved in selling or trading. The back office sees to accounting records, compliance with government regulations, and communication between branches.
Dictionary of Finance and Investment Terms: back office
back office
bank or brokerage house departments not directly involved in selling or trading. The back office sees to accounting records, compliance with government regulations, and communication between branches. When stock-market trading is particularly heavy, order processing can be slowed by massive volume; this is called a back office crunch.
