Ideas for the Mambu Banking Engine

Debit, Credit and Total Account Locks

What?

At the moment Mambu only supports a total account lock, that prevents all transactions on an account and suspends application of interest.

Create a functionality that disallows debit, credit or all transactions on an account until the lock is lifted - called debit, credit or total lock. In case of any such lock interest, fees etc. would still be applied to the account, only customer initiated transactions are not longer possible.

Why?

There are several use cases:

  1. Account origination - To enable straight through processing, create the customer and account, but with a debit lock on the account until the customer has passed KYC checks.
  2. Fraud investigation - While a customer is under investigation for fraud, debit lock all of their accounts to prevent any funds leaving the back, whilst continuing to accept deposits and to pay interest.
  3. Diseased customer - After a customer has been reported as diseased, put a debit lock on all of their accounts to prevent any funds leaving the back, whilst continuing to accept deposits and to pay interest until inheritance and ownership of funds has been clarified.

Note: This ticket encompasses APP-I-308, which could probably be merged into this one.

  • Sascha Dannroth
  • Nov 1 2018
  • Planned
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