Money Movement API

Overview

The Money Movement API suite allows one to perform a variety of financial transactions into and out of different synthetic accounts to emulate real customer behavior: paying bills, depositing checks, purchasing items and more. In general, one will perform these transactions from the perspective of a single customer using the assigned synthetic accounts.

Features

• Emulate a credit card purchase at a point of sale
• Confirm that card information is valid and account is open, and confirm that there is sufficient credit available for purchase
• Return a purchase receipt
• Make a deposit or withdrawal from a direct deposit account
• Emulate different channels (branch, online or check)
• Collect party information
• Make a payment to a credit account (overpayment is not allowed)
• Transfer money from existing DDA account
• Make a funds transfer (internal transfers will contain cross reference identifiers to reconcile payments; external transfers are allowed between different customers)
• Automatically updates the corresponding account balances to reflect the transaction
• Create a unique transaction record that becomes part of the corresponding account's history

Workflow

Use cases

• Set up an auto-payment to deal with recurring bills
• Encourage savings by making periodic deposits based on external behaviors
• Monitor card purchases to identify opportunities to save money
• Build a budgeting application and monitor outgoing expenses
• Build a fraud alert feature that monitors incoming transactions for discrepancies