Non-bank Financial Institutions do not
have a license to take a deposit.
Therefore, Alliance Financial Network
created an electronic eXchange POrtal
to exchange currency for eXPO™ credit
extended to members to transact in a compliant Membership network. This takes the cash out of
the system and creates a paradigm shift for this
emerging cash industry.
Advantage
eXPO™ is a Non-Bank Financial Institution
Non-Bank Financial Institutions are broadly defined as institutions other than banks that offer financial services.
The USA Patriot Act has defined a variety of entities as Financial institutions.
Common examples include but are not limited to:
- Securities and commodities firms (e.g., brokers/dealer,
investment advisers & mutual funds)
- Hedge funds or commodity traders
- Money services businesses
- U.S. Postal Service
- Loan or Finance companies
- Other financial institutions (e.g., dealers in precious
metals, stone or jells; pawnbrokers)
- Casinos and card clubs
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