Definition, Meaning & Synonyms

multibank

Adjective

/ˈmʌltiˌbæŋk/

Definition

A financial structure involving multiple banks working together to offer services or products.

Examples

Many companies prefer using a multibank approach to manage risk and maximize benefits from different financial institutions.
In today’s global economy, a multibank strategy can give businesses a competitive edge.

Meaning

The term ‘multibank’ refers to a system where several banks collaborate to provide a wider range of financial services to clients, enhancing competition and options in the banking sector.