Funding an Account
Funding an account refers to the process of adding funds to a specific account or a financial instrument. It may involve various methods depending on the type of account and the financial institution or service provider.
Create Payment Order
POSTCreate the payment order in Transact for various scenarios like loan disbursement, merchant fee processing, prepay and loan repayment
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Amend attributes of a payment order that is yet to be approved by supervisor
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Delete a payment order awaiting supervisor approval
Delete Payment Order
DELETECancel an approved payment order that is in an awaiting status viz. Warehouse, Awaiting Funds
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Perform debit transactions in an account by providing debit amount and currency in which to be debited
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Perform credit transactions in an account, providing the credit amount and the currency in which to be credited
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Retrieve a specific order for a given payment order id
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Retrieve list of authorised payment orders based on a specific criteria
Block or Unblock Funds
Banks can block funds fully or partially on an account for a specific or indefinite period of time. This topic explains the service operations and their APIs involved in initiating, updating, and reversing a fund block. It also explains the APIs to fetch fund blocking information.
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Creates a funds reservation with details such as account number, block or reserve amount, period of hold transaction, reason for holding. Funds reservations are created to block or reserve funds which restricts any debit movements affecting the account balance below the blocked amount for the specified period on an account.
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Update funds reservation with details such as account number, block or reserve amount, period of hold transaction, reason for holding. Funds reservations are created to block or reserve funds which restricts any debit movements affecting the account balance below the blocked amount for the specified period on an account.
Reverse Fund Blocking
DELETECancels the funds reservation of an account. Funds reservations are created to block or reserve funds which restricts any debit movements affecting the account balance below the blocked amount for the specified period on an account. On removal of the funds reservations, the blocked or reserved amount is now available for usage.
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Retrieves the reserved funds details such as reason, amount and period of reservation of the account
Standing Order
A standing order is a type of financial instruction that allows an account holder to authorise a fixed amount of funds to be automatically transferred from their account to another account, typically on a regular basis. The transfer can occur weekly, bi-weekly, monthly, or on any other regular interval specified by the account holder.
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Create standing instructions with payment type, payment frequency, ordering customer or bank information and accounts involved
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Update standing instructions with payment type, payment frequency, ordering customer or bank information and accounts involved
Delete Standing Order
DELETEDelete or revoke standing instructions for a customer
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Approve standing instructions that are sent for second or third level approvals
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Retrieves the list of standing instructions details such as instruction reference, mode of payment, payment frequency, amount, accounts & customers involved
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Retrieves the list of standing instructions details such as instruction reference, mode of payment, payment frequency, amount, accounts & customers involved
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Retrieves the list of failed standing instructions details such as accounts involved, payment type & reason of failure
Account Sweep
Account sweep is a financial service that automatically transfers funds between different accounts to maximise the use of available funds and minimise idle cash balances. It can also be used to pay down outstanding balances on lines of credit or loans. Account sweeps can be performed on a daily, weekly, or monthly basis, depending on the needs and preferences of the account holder.
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Initiate a new sweep transaction for a specific account
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Initiate a new sweep transaction for a specific account
Create Twoway Sweep
POSTInitiate a new sweep transaction for a specific account
Update Sweep
PUTUpdates an existing sweep transaction for specific account
Approve Sweep
PUTApproves a sweep transaction for specific account
Delete Sweep
DELETERemove an existing sweep transaction for specific account
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Retrieves the list of account links for a sweep to occur.
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Retrieves the details of specific sweep transaction
Create and Manage Customer
Creating customer profile within the bank's customer database or CRM system enables the banks to target specific customer segments with personalized messages and offers.
Create Customer
POSTCreate a customer with the information such as customer contact information, residence details, legal document details, occupation details and relationship details, etc provided by the user. It allows to create a customer with system generated id.
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Create a customer relationship for a customer with details such as type of relationship, party information, related as, owning details, role & purpose of relationship
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Update customer details with the information such as customer contact information, residence details, legal document details, occupation details and relationship details, etc provided by the user
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Update customer relationship for a customer with details such as type of relationship, party information, related as, owning details, role & purpose of relationship
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Retrieves the customer details such as customer contact information, residence details, legal document details, occupation details and relationship details for the specific customer
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Retrieves customer relationship details such as type of relationship, party information, related as, owning details, role & purpose of relationship for specific party or customer