Bank Models
GC Inc. leverages 2 operating models via 2 banks. Under the _______ _______ model, GC is the Program Manager and processes payments under its partner bank's license and authority.
What is the Bank Sponsor model?
First president of the USA.
Who is George Washington?
Unlucky number which represents the number of states GC is licensed in.
What is 13?
Number of employees to the nearest hundred.
What is 800?
The 4 GC ACH Authorization types.
What are open, single, recurring and standing?
Under this model, GC Inc. is a licensed money transmitter in 13 states, a Money Services Business (MSB) under Federal regulations, and is relying on certain regulatory exemptions to offer its products and services directly to its customers via its partner bank.
What is a Direct Licensing Model?
What the woman of the Statue of Liberty is holding in her hand.
What is a torch?
When GC operates in states we are not licensed in, it uses these.
What are exemptions?
Hiroki founded GC alongside which cofounder of which fintech.
What is Tom Blomfield, Monzo?
ACH Authorization which must specify amount and frequency of debits.
What is recurring?
_____ (bank) is replaceable and our model does not depend on them uniquely.
What is JPM?
These are the five great lakes.
What are the Huron, Ontario, Michigan, Erie, Superior?
Primarily provides services that enable individuals and businesses to send and receive funds. They act as intermediaries, facilitating the movement of funds between individuals and businesses, both domestically and internationally.
What is a money transmitter?
The evening location of this year's GC Live party.
Where is Shoreditch Gardens?
Each subsequent debit under a Standing ACH Authorization must be initiated following a payer's ____ _____.
What is affirmative action?
Used to determine which transactions can be processed under which model.
What is MCC routing logic?
The first Dairy Queen opened in Illinois, and the first McDonald's opened in this state.
Acting as an intermediary/agent and facilitating payments “solely” for the delivery of goods and services provided on behalf of the Merchant.
What is an agent of the payee?
What GC entity is registered in Canada?
What is GC Ltd.?
ACH stands for...
What is Automated Clearing House?
GC's merchant is a management company which collects rental payments from tenants and pays landlords. GC must process these payments via ____ bank.
What is CFSB?
The only state flag that has a green background.
What is Washington?
Required for an entity to hold client funds and provide multiple services such as disbursements and stored value.
What are licenses?
Hiroki's start month and year as shown on Bob.
When was January 2011?
The record of authorization must be retained by the Originator for a period of _________ following the termination or revocation of the authorization.
What is 2 years?