Add or Remove Account Holders
It is a common banking practice to have more than one party, for example joint-holders, in a deposit. This section describes how a bank can maintain the deposit contract by adding or removing parties to an existing deposit.
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Update the customer details of the term deposit such as add or remove joint customers
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Update the customer details of the term deposit such as add or remove joint customers
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Retrieves all the customer details for the given arrangement such as customer id, customer name, customer role, their beneficiary type, limit allocation percentage, GL allocation percentage and tax liability percentage.
Posting Restriction
Banks employ posting restrictions to regulate transactions in deposits. Posting restrictions are transaction-based controls, that prevent transactions from being posted for the purpose of operational control. A typical business case in which a bank applies a posting restriction to control credits is for non-resident accounts, where there could be restrictions against the deposit of local currency amounts into the deposit.
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Update the account conditions of the term deposit such as alternate references, posting restrictions, etc
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Update the account conditions of the term deposit such as alternate references, posting restrictions, etc
Payment Schedule
A payment schedule for a deposits product is the interest payments that are made on the deposit account. The payment schedule outlines when and how interest payments will be made to the account holder.
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Update the payment schedule details of the term deposit such as payment frequency, payment type
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Retrieves the payment schedule details of an account
Manage Interest
Banks can pay interest to the customers on credit balances held in their deposit accounts. The interest can be changed in the following ways
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Update the interest conditions of the term deposit such as interest rate, spread, margin etc
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Retrieves the interest details of an account such as interest rate , interest type and interest amount
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Retrieves the interest accrued for the current period of an account
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Retrieve the past period's interest accruals
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Retrieves the interest accruals of the previous year
Renegotiate Deposits
Renegotiating deposits involves negotiating new terms and conditions for a term deposit account before its maturity date. These negotiations may include a change in the original terms of the account, such as the interest rate or the maturity date and so on.
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Perform the renegotiation of the term deposit contract details such as payment frequency, interest rates, etc.
Renewal of Deposits
Renewal of deposits enables the account holders to extend the term of their deposit account that has reached its maturity date.
Deposit Renewal
POSTPerform the rollover of the deposit for the given rollover date or period
Update Term
PUTUpdate the tenure of the term deposit by providing tenure or maturity date
Change Product
Changing product is the process of switching from one type of deposits product to another within same product group offered by the bank or financial institution that may involve additional fees and charges.
Change Product
PUTUpdate the contract from one deposit product to another
Change Branch
You can shift an active account of a customer from one branch to another.
Change Branch
POSTUpdate the branch for the deposit
Deposit Settlement
Settlement information outlines the details of how an account balance is paid or settled, either by the account holder or by a third party. This information can include the amount of the payment, the payment method, the payment date, and any associated fees or charges.
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Update the settlement conditions of the term deposit such as payin account, payout account, beneficiary etc
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Retrieves the settlement details for the given arrangement such as payment type, payin account, payin percentage, payin amount, payout account, payout percentage, payout amount, etc
Deposit Closure
Closure of a deposit account refers to terminating a term deposit account before its maturity date. You can use this query to fetch the details related to closure of deposits.
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Redeem the term deposit to close the deposit by providing the settlement instructions
Deposit Closure
PUTRedeem the term deposit to close the deposit by providing the settlement instructions
Simulate Redemption
POSTSimulate a deposit redemption and the payload should include the settlement instructions to which the deposit amount is to be credited. Common usage of this is for simulating withdrawals when customers want to withdraw their deposits before the actual fixed maturity date of the deposits.
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Retrieves the redeem bill for the given deposit by providing the deposit reference and simulation reference for simulated deposits
Migration
Below are the service operations and their respective APIs involved in migration of deposits, bills and deposit balances.
Migrate Deposits
POSTMigration of a legacy system deposit contract to the given deposit product by providing the original contract date, account name, statement, payment frequency and start date, etc. This can be used for migrating the legacy contract to deposits account by providing required details.
Migrate Bills
PUTCaptures the bill information of the deposits account such as bill id, property names, bill amount etc. This is used to migrate the bills of a legacy contract which is migrated from other system & update the bill details.
Migrate Balances
PUTCaptures the balance details of the deposits account such as balance type, due amount etc. This is used to migrate the balances of a legacy contract which is migrated from other system & update the balance details.
Issuance
Given below are the service operations for Issuance.
Create a LC
POSTInitiate a new letter of credit request for specific customer
Create a Export LC
POSTCreate a new export letter of credit for specific customer
Maintenance
Given below are the service operations for Maintenance.
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Update an existing amendment for specific letter of credit
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Updates the amendments to the letter of credit for the specified letter of credit/customer reference number
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Initiate the registration of a presentation done for letter of credit transaction
Update Drawings
PUTUpdate an existing drawing for a specific letter of credit
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Updates letter of credit amendments seeking beneficiary's consent for the specified letter of credit/customer reference number
Update Cancellations
POSTUpdates the cancellation details of the issued import letter of credit for the specified letter of credit/customer reference number
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Updates the decision on amendments to import letter of credit for the specified letter of credit/customer reference number
Create Drawings
POSTInitiate a new drawing request registerered for a specific letter of credit
Update Export LC
PUTUpdate a new export letter of credit for specific customer
Update LC
PUTUpdates the letter of credit initiation for the specified letter of credit/customer reference number
Enquiries
Given below are the service operations for Enquiries.
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Retrieves the details of outstanding import letter of credits for the specified customer/guarantee reference.
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Retrieves the list of export letter of credits registered for specific customer
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Retrieves outstanding documents such as bills under the letter of credit
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Retrieves the negotiated/discounted bills under the letter of credit
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Retrieve drawing details
Issuance
Given below are the service operations for Issuance
Create a Issuance
POSTInitiation of a guarantee issuance request by the issuing bank for the applicant or the instructing party.
Initiate Issuance
POSTInitiates guarantee issuance request through self service channel for the corporate user
Update Issuance
PUTUpdates the details of the guarantee request which are mandated for the issuing by the issuing bank
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Updates the details of the guarantee request which are mandated for the issuing by the issuing bank
Maintenance
Amend Issuance
PUTAmendment of the terms and conditions of the guarantee after issuance by the issuing bank and notifying the parties in the guarantee
Approve Issuance
PUTApproves the amendment response received from the corporate user for an received guarantees for a corporate customer
Reverse Issuance
DELETEReverse the existing guarantee file issued by the issuing bank on behalf of a corporate customer
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Updates the received claim details sent by the beneficiary to the issued guarantee requests
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Updates the status for the existing guarantee received by the issuing bank with the concurrence of the beneficiary
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Updates the response for the claim initiated to guarantee received by the issuing bank
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Updates the rejection of claim for a guarantee received file from the beneficiary bank
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Facilitates the claim creation for the guarantee received
Enquiries
Given below are the service operations for Enquiries
Fetch Issuance
GETRetrieves the list of issued guarantees by the issuing bank for any corporate customer
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Retrieves the list of received guarantee claim details
Fetch Receipts
GETRetrieves the list of issued guarantee claims that are received for the guarantees issued
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Retrieves the list of amendment history details for the received guarantee file for a corporate customer
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Retrieves a list of guarantees for which auto extension is enabled
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Retrieves the details of guarantee clauses
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Retrieves the details of outstanding received guarantees for the specified customer/guarantee reference.
Payments
Given below are the service operations for Payments.
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Reject response of a claim received by the issuing bank to the beneficiary bank
Issuance
Given below are the service operations for Issuance.
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Initiation of the export documentary collection by the collecting bank
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Lodgment of the Import documentary collection by the collecting bank
Maintenance
Given below are the service operations for Maintenance.
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Updates the amendments to the outward collection for the specified letter of credit/customer reference number
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Updates the amendments to the inward collection for the specified letter of credit/customer reference number
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Amendments to outward collection contracts are implemented by revising the contract with updated values
Enquiries
Given below are the service operations for Enquiries.
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Retrieves the outstanding details of outward collections
Fetch Drawing
GETRetrieve the details of specific drawing that is created against a letter of credit