This is how i see it... 1. Creating accounts and client management is fine , I mean that's there its most simple part but you might need to do the API wiring up and it seems like Fineract does operate self service API but will they serve your purpose? 2. So that can be problematic like for your 2nd trigger on that transaction unless you and the other bank function on the same platform or use HTTP API to hit your account (there it can be a bit an issue) 2.1 Why would other bank want to access your Fineract API directly to transact in your Fineract based account (currently there is no way for any one outside fineract can send like money and let fineract customer update its balance) 3.There is no such function as of now.
So, in my opinion what you could do is build a network that does for you like when fineract does send money outside you update a ledger, as simple as that maintain your own ledger that does it for you from all side, that means maintaining a separate ledger and based on that updating both sides Problem in this approach is that you might have double spending occuring or if a malicious actor is involved it can change your ledger then the whole matrix is gone wrong . I can think of building a middleware as i suggested earlier if you time and patience for that On Tue, Dec 29, 2020 at 4:09 PM Saransh Sharma <sara...@muellners.org> wrote: > Cross border transactions can happen over blockchain based solution if you > license etc > > Sent from my iPhone > > On 29-Dec-2020, at 3:23 PM, Saransh Sharma <sara...@muellners.org> wrote: > > Technically right now the users delegation is loose in Fineract ie Self > service and no proper service to service communication if you want to > invest in building a layer two solution that works on top of Fineract you > should do that or else create your own back end accordingly to your needs > > Fineract is fine but will not cater to all of your needs like how you want > and you will see that you will end wiring up your own layer two on top of > it. > > Most important thing to do is to focus on standardising your API and then > just use those which you need. > > Logistically you will face taken scarcity also like there is hardly few > here in the community who knows development on such standards. > > Another is NeO bank need more like a blockchain kind of payment rails > solution go for that and build your API on top > > Thanks > > > Sent from my iPhone > > On 29-Dec-2020, at 3:02 PM, Debbie Watkins | Lucy < > debbie.watk...@welucy.com> wrote: > > > 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." >> > -- Thanks and regards, Saransh Sharma Research Partner This mail is governed by Muellners® IT policy. The information contained in this e-mail and any accompanying documents may contain information that is confidential or otherwise protected from disclosure. If you are not the intended recipient of this message, or if this message has been addressed to you in error, please immediately alert the sender by reply e-mail and then delete this message, including any attachments. 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