FINS BIAN Standing Order Process API

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Examples of Use

A customer issues a standing order for his or her monthly apartment rent amount to be paid to the landlord.- A customer issues an instruction for any balance amount above 5,000 on his current account to be transferred to his savings account at EOD.- A customer establishes a regular standing order for a critical monthly payment. They select their current account as the primary source of funds and their savings account as the backup account.

Role Definition

Customers can issue standing orders to the bank. In most cases this is for the execution of a periodical payment, but there are other standing instructions like, sweeping balances at end of month, topping off excess funds for a current account, etc. All Standing Orders have a certain periodicity. The Standing Order Service Domain is responsible for generating payment orders on each due date.

Related Business Scenarios

EXT HANDLE REQUEST TO ESTABLISH CREDIT TRANSFER STANDING ORDER ON CORPORATE CURRENT ACCOUNT

CANCEL STANDING ORDERS OF CORPORATE CURRENT ACCOUNT TO BE CLOSED

EXT HANDLE REQUEST TO CLOSE VIRTUAL ACCOUNT

HANDLE REQUEST TO CLOSE CORPORATE CURRENT ACCOUNT

HANDLE REQUEST TO CLOSE RETAIL CURRENT ACCOUNT

HANDLE REQUEST TO ESTABLISH CREDIT TRANSFER STANDING ORDER ON CORPORATE CURRENT ACCOUNT

HANDLE REQUEST TO ESTABLISH CREDIT TRANSFER STANDING ORDER ON RETAIL CURRENT ACCOUNT

HANDLE REQUEST TO CANCEL CREDIT TRANSFER STANDING ORDER ON CORPORATE CURRENT ACCOUNT

CANCEL CREDIT TRANSFER STANDING ORDERS OF RETAIL CURRENT ACCOUNT TO BE CLOSED

EXT HANDLE REQUEST TO CLOSE CORPORATE CURRENT ACCOUNT

Core Business Object

Key Features

  • Record a standing order details and mechanism
  • Maintain details of a standing order through its lifetime
  • Provide details for the creation of
  • payment orders for a balance sweep
  • Support the periodic update of standing order instructions
  • Initiate the standing order periodical payment instruction

Customers can use this integration template to accelerate implementation.


Reviews

TypeREST API
OrganizationMulesoft Inc.
Published by
MuleSoft Solutions
Published onAug 28, 2023
Asset overview

Asset versions for 11.0.x

Asset versions
VersionActions
11.0.0