FINS BIAN Savings Account Process API

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Examples of Use

A customer transfers money from a current account to savings account in order to obtain a better rate of interest.

Role Definition

The savings account product may share many features with a standard bank current account (e.g. standing orders, direct debits, payments and deposit services) with some constraints/limitations. There can be restrictions on the amount and frequency of withdrawals with an associated fee/penalty structure to offset higher interest benefits. Sweep mechanisms linked to other products (current account) can also be supported.

Related Business Scenarios

PERFORM CUSTOMER ELIGIBILITY PROFILE UPDATE

DEVELOP CUSTOMER INSIGHTS

HANDLE REQUEST TO TERMINATE SWEEP AGREEMENT

HANDLE REQUEST TO OPEN SAVINGS ACCOUNT

HANDLE REQUEST FOR CASH WITHDRAWAL FROM SAVINGS ACCOUNT

HANDLE REQUEST FOR INTERNAL CREDIT TRANSFER FROM SAVINGS ACCOUNT

EXT HANDLE REQUEST TO ADD ACCOUNT TO SWEEP AGREEMENT

HANDLE REQUEST TO CLOSE SAVINGS ACCOUNT

PROCESS INTEREST BOOKING BY ACCOUNTING

VERIFY COMPLETION OF CUSTOMER UPDATES

ASSESS CUSTOMER BEHAVIOUR MODEL PERFORMANCE

HANDLE REQUEST FOR CORPORATE SWEEP AGREEMENT

HANDLE REQUEST FOR CORPORATE SWEEP AGREEMENT CONSIDERING INTER-COMPANY LOAN AGREEMENTS

PROCESS END OF DAILY BOOKING WINDOW FOR INTEREST ACCRUAL SAVINGS ACCOUNT

PERFORM CUSTOMER RELATIONSHIP DEVELOPMENT PLANNING

EXT HANDLE REQUEST TO TERMINATE SWEEP AGREEMENT

INITIATE CUSTOMER RELATIONSHIP CASE

PROCESS INTEREST SETTLEMENT SAVINGS ACCOUNT

Core Business Object

SAVINGS ACCOUNT AGREEMENT

Key Features

  • Set-up savings account facilities
  • Issue cards, check-books, etc. for the account
  • Process deposits and withdrawals
  • Handle sweeps/liens linked to the account
  • Handle standing orders and direct debits linked to the account
  • Process fees and apply interest charges
  • Provide balance/statements and reports

Customers can use this integration template to accelerate implementation.


Reviews

TypeREST API
OrganizationMuleSoft
Published by
MuleSoft Solutions
Published onAug 25, 2023
Asset overview

Asset versions for 11.0.x

Asset versions
VersionActions
11.0.0