Hi Paul One thing worth mentioning here - to send money from your bank to another bank in-country, I think you'll probably need to connect your instance of Mifos to the national clearing and settlement switch. How the data is sent from Mifos to the switch will depend on the requirements of the switch (in most cases it's not an API call).
Best regards, Debbie [image: Your Company] <http://www.lucytribe.com/> Debbie Watkins CEO and Co-founder <https://www.linkedin.com/company/lucy-community> [image: T:] +65 6817 1160 [image: E:] debbie.watk...@welucy.com *Lucy* | *Turning the unbanked into the unstoppable* www.welucy.com On Tue, 29 Dec 2020 at 17:17, Saifudeen Khan <sai...@zucisystems.com> wrote: > Greetings Paul > > > > We are a fintech startup ourselves based out of Chennai. We have delivered > couple of Fineract deployments including customizations mapping to customer > needs (micro finance companies). It is a great system with super > flexibility. > > > > 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. > > > > s@if >>> Fineract has de-coupled UI from busiess layer, everything is of > API calls. All you need is to build a UI, make appropriate API Calls. I am > not sure of neo bank as such, but creation of accounts/products/loans > everything is definitely possible. > > > > 1. 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? > > > > s@if>>> Again, API calls again. Your neo bank application will have to > notify fineract about it and pass on details for it to maintain records > > > 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? > > > > s@if >>> #refer 2 > > > > regards > > s@if > > > > *From:* Paul Aphivantrakul <aphivantra...@gmail.com> > *Sent:* 29 December 2020 12:14 > *To:* dev@fineract.apache.org > *Subject:* Neo Bank Startup Company Using Fineract > > > > CAUTION: This email originated from outside of the organization. Do not > click links or open attachments unless you recognize the sender and know > the content is safe. > > > > 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 > Disclaimer: "The contents of this e-mail and any attachments enclosed > therein are intended solely for the addressee(s) and may contain > confidential and/or privileged information. It may also be the sole > intellectual and proprietary resource of Zuci Systems and therefore may be > legally protected from disclosure. If you are not the intended recipient of > this message, or if this message has been addressed to you by inadvertence, > kindly alert the sender by email and then follow with its deletion. If you > are not the intended recipient, you are hereby notified that any use, > dissemination, copying, or storage of this message or its attachments is > strictly prohibited and shall make you liable for consequences under > applicable laws." >
