An Online Dictionary, Yes, Dictionary Has Launched for Banking Community
As hard as it is to remember, there was a time when a good dictionary was an invaluable tool.
Today, Google is everyone’s dictionary. Have a term you don’t know? Google it, and you’ll get 1,000 explanations.
But, upon reflection, that might be some of the problem. Which of the definitions are correct? How do you know that the source you are reading is reputable? Or is it just, “I read it on the internet, so it must be true”?
Marrying these two needs – a dictionary for banking and a reputable source for information – is the new BankingDictionary.com. The short of it is that BankingDictionary.com is a good idea. The homepage of BankingDictionary.com offers a simple search bar and a rundown of more than a dozen common search terms. These search terms highlight why a banking dictionary is needed: “annual general meeting,” “amortize,” and “currency swap,” among several others. These terms are listed under the banner, “Essential Banking Terms You Should Know.” Indeed they are.
I will add that I asked BankingDictionary.com, which launched about a month ago, how it developed its dictionary entries. I got no response, though.
The site has a business model. BankingDictionary.com is owned by WebFinance Inc. The company, based in Fairfax, Va., says it has “in early 2010 … launched dozens of subject-specific dictionaries.” WebFinance now has more than 30 dictionary sites, among them are InvestorWords.com, InvestorGuide.com, and Economics-Dictionary.com. Obviously, WebFinance will sell ads on its sites. It will also try to license its dictionary content to other sites. It could work.
But for now, banking has a new dictionary — yes, a dictionary. It should bring back memories for some, even if it is completely digital.
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