On the interlace platform, customers can have one or more accounts. An account is typically a financial product such as a savings, loan, or credit card account and is tracked on the provider’s system of record. The interlace platform supports various account types and each has specific profiles, transactions, and user-based permissions.
The Account Pack includes the services, events, and schemas associated with the creation, inquiry, and maintenance of your customer’s accounts.
We understand it is important to not only create accounts on the system of record but also maintain the linkage between customers and their accounts, along with having the capabilities to monitor and service the accounts.
At a summary level, the services and schemas for the Account Pack include the ability to collect relevant customer information to open the account, verify the account ownership, and create an account on the system of record. Once you have an active account, you can then handle account servicing through our expanded set of account maintenance features.
The following chart shows the data relationship between the account object and additional interlace objects related to the account.
The following chart shows the service interactions for the account object, including the account opening (onboarding) process.
As you offer financial products to your customers, you want to provide a seamless experience to allow the customer to open that new account on your platform. The account opening services allow you to capture relevant customer and product information and open a compliant account on the system of record. A new account may be a deposit account, debit card, line of credit, or other account tied to a specific financial product.
Our platform provides all that is needed to track the onboarding process through account applications that provide the flow to capture data, verify, confirm consent and open and link accounts to your customers. This can also include the orchestration of Fintech partners to assist in the customer and account verification processes, funding, and add-on account services.
To open a new account, please refer to the Account section in our API reference.
Once a customer has an account, your application can request information about the account to display within your application or use as part of additional feature content. You can inquire about:
- Account List (list of all accounts a customer may have)
- Account Balance
- Account Profile (details about the product type such as type, rate, expiry)
- Account Access (entitlements for an account that define whether the account can be used for transfers, wires, etc)
- Transaction History
- Transaction Details
- Transaction Images
To perform an account or transaction inquiry, please refer to the Account section in our API reference.
Account Servicing requests
For your application use cases, you will have instances where you need to initiate servicing requests to assist a customer. Examples of servicing requests may be to update the account contact address, update beneficiaries, link accounts or close the account.
These service API are flexible and can interface to the bank core system, your enterprise workflow system, or a third-party back-office application.
To perform servicing requests, please refer to the Account section in our API reference.
For most account types you will be required by compliance to provide access to electronic statements for the account. A statement represents the activity that has taken place for the account over a certain time period. This would typically include balance information, transaction history, and any informational messages to the customer. Statements are typically provided in PDF or HTML format.
To request a statement from the back-end system, please refer to the Account section in our API reference.
Verify Account Owner
This service can assist in confirming that the verified customer (application user) owns a specific account at a specific financial institution. This use case is typically associated with money movement. For instance, if a customer wants to fund a new account with external funds (meaning money from another financial institution), the customer will provide that external account’s information so that the platform can confirm if the external account is owned by the user and the account is in good standing. If the account is verified as being owned by the user and the account is in good standing, then the money movement transaction can be executed.
To verify account ownership, please refer to the Money Movement / Account Verify section in our API reference.
Infinant partners with leading industry Fintech and with financial institution Fintech to provide certain features. Get in touch with us to discuss various products production options and provider solutions that can be included.
Great progress and we hope you are on your way to your Fintech launch.
We recommend you spend time reviewing our platform API reference and related materials within this builder site. You can start to expand your application using you builder account and keys.
To learn more about our platform, please visit the interlace Platform API Reference.
Have a Question?
If you have any questions or are ready to move onto the go-live process, please reach out to our team for help at email@example.com.