grandstand-the audience at a stadium or racetrack. audience-a gathering of spectators or listeners at a (usually public) performance; the audience applauded; someone in the audience began to cough.
Electronic Check Presentment - ECP. A process that allows financial institutions to exchange digital images of checks instead of paper to increase the speed of of the check cashing process. The signing of the Check Clearing for the 21st Century Act by President Bush permitted the use of electronic check presentment (ECP).
ThatÃ¢â¬â¢s where Electronic Data Processing (EDP) comes into play. EDP is a generic term describing a system of hardware, software, procedures, and people working together to sort and process data into useful forms. This involves much more than simply gathering information Ã¢â¬â it involves applying intelligent analysis and manipulation to data to put it to work.