API Console

Swagger | Microservice

Executive Summary

This service domains processes the movement of funds between accounts within the bank or to/from an account held with another bank, selecting the appropriate payment mechanism

Examples of Use

Example of use:Funds are transferred from a customer’s account with the bank to a payee account held at another bank

Role Definition

Payment Execution handles the back-end processing of a movement funds from a debtor account to a creditor account. Payments need to have been authorized and validated against customer/bank agreements before being instructed to Payment Execution. Payment Execution then determines whether debtor and creditor accounts are held within the bank and if not selects the appropriate payment mechanism/channel to use to complete the transfer. It is responsible for ensuring that both (or neither) sides of the exchange are completed successfully 

Related Business Scenarios

Process Incoming Direct Debit Instruction at Debtor Bank
Handle Request for Outgoing FCY Credit Transfer via SWIFT
Handle Incoming Request for Payment at Debtor Bank
Handle Incoming Credit Transfer
Process Salary Payments for Internal Accounts
Process Request for Refund of Outgoing Direct Debit at Creditor Bank
Process Outgoing Direct Debit Instruction at Creditor Bank
Process Payment of Outgoing Direct Debit at Creditor Bank
Handle Request for Cash Withdrawal from Savings Account
Handle Request for Internal Credit Transfer from Savings Account
Handle Request for Chargeback at Acquirer
Record Credit Booking
Process Incoming Credit Transfer at Creditor Bank towards Outgoing Request for Payment
Handle Incoming FCY Credit Transfer for LCY Account
Handle Request for Outgoing Credit Transfer
Process Internal Direct Debit Instruction
Handle Request for Internal Credit Transfer between Corporate Current Accounts
Initiate Payment Order
Handle Request for Internal Credit Transfer Requiring Second Line Authorisation
Process Salary Payments for External Accounts
Handle Request for Payment at Creditor Bank for External Account
Handle Request for Refund of Internal Direct Debit
Process Interest Settlement
Handle Request for Refund of Incoming Direct Debit at Debtor Bank
Process Clearing Error for Outgoing Credit Transfer
Process Rejection Message for Outgoing Direct Debit at Creditor Bank
EXT Handle Request for Account Statement and Outgoing Credit Transfer
Handle Request for Outgoing Credit Transfer Related to Request to Pay at Debtor Bank
Record Debit Booking
Process Interest Settlement Savings Account
Process Notification to Remove Amount Block

Core Business Object

Money Transfer Transaction

Key Features

  • Determine the appropriate payment mechanism
  • Retrieve counterparty payment instructions/preferences
  • Generate creditor and debtor instructions
  • Confirm (and report) both legs of the movement are completed