An Internal Bank is a company's internal financial system that functions like a personal bank within the organization.
Its purpose is to manage financial transactions between divisions, employees, and business units digitally without having to go through an external bank.
Typically, its main features include:
Digital wallets (e-wallets) for each employee or department.
Internal balance transfers between users.
Automatic transaction recording (top-ups, payments, payroll, etc.).
Real-time financial reports for internal control and audits.
In short, an Internal Bank is a company's internal financial management application that makes all transactions faster, safer, and more efficient without involving external parties.