Hi: We have a cooperative bank, a remittance company for cross-border payments and a wallet in Nepal with the back side and run everything from a phonepp.
We are now connected to all the banks in Nepal for both depositing money as well as for cash out functions from our bank. There has been challenges in using Fineract in the past 2.5 years that we have been using, but so far we have been able to get this connected to CRM with omni-channel, our remittance solution, connected with our own SMS server and now also pushing Firebase Cloud Messages from our platform. In a nutshell if you have a dev team inhouse and get the great support from the community in this solution, it will work for your needs. Regards, Allen. From: Paul Aphivantrakul <aphivantra...@gmail.com> Sent: Tuesday, December 29, 2020 2:44 PM To: dev@fineract.apache.org Subject: Neo Bank Startup Company Using Fineract Hello everyone, My name is Paul Aphivantrakul, and I am a software developer currently living in Thailand. Since living here for about a year, I have become interested in the fintech market and came across the Fineract project. I would like to start a fintech startup similar to a neo bank here in Thailand that uses Fineract as the core banking system. However, I am still a little confused about how to use Fineract for a purely online bank. 1. How do users create checking or savings accounts in my neo bank? Do I have to create a website and call Fineract API endpoints? I am looking for a way to create accounts automatically online and not manually. 2. How can Fineract know when a bank transfers funds to my neo bank? Let's say a customer wants to deposit $100 from another bank into my neo bank. How does Fineract know if my neo bank actually received $100 from the other bank? 3. Similarly, if a customer wants to send $100 from my neo bank to their other bank, how does Fineract know that $100 was actually sent and how does it send it to the other bank? I have gone to https://www.fineract.dev/ and have tested out the Fineract system, but it seems that this system works best for bank tellers who work in physical branch locations. Is there a more automated way to create accounts and to accept and send out payments? Would this be done through the API? If so, do we as Fineract users have to create our own websites to allow customers to interact with these APIs? Thank you, Paul
