Overview
At the heart of COS sits the Core API. It manages fundamental banking functions such as customer onboarding, account management, and transaction activity.
Your first step on the journey to build a financial product in COS begins here.
Products
Products are what drive configuration for accounts opened under them. Most of the time you will only have one product, however it is possible to have many products under your partner.
Customers
Before an account can be opened, a customer record must be established. This is where details such as name, SSN, address and other contact information can be provided.
Deposit Accounts
Our DDA API allows partners the ability to open and manage demand deposit accounts, such as Checking and Savings accounts. These are also referred to as Master accounts.
Subledgers
Once a master account has been established, it is possible to open subledger accounts under it. These subledgers will have their own unique account number. Any transactions against these subledgers will affect the balance of both the subledger and the master account associated.
Transactions
Each time money moves between two accounts, a transaction record is created. In addition, other downstream resources are created such as account activity, memo posts and posting exceptions.
Book Transfers
Book transfers, aka account transfers, are an easy way to move money between two COS accounts.
Statements
Each deposit account will receive a monthly statement of activity.
Updated 6 months ago