Mambu Banking Engine

Ideas aimed to improve the current experience provided by the Mambu Banking Engine.

[CT] Support "Seizure" transaction - via Payment Order

What?
At present only Deposit and Withdrawal transaction can be initiated via Payment Order
If an account has funds blocked, then Payment services using Withdrawal Transaction will recognize that the balance is not available for use

Why?
Seizure Transaction is newly introduced transaction type for Deposit Accounts
This let user with the correct permission seize the blocked amount from a deposit account

If payments support Seizure transaction, then it is possible to seize the blocked amount and transfer it via a SEPA payment message to an external bank account

Business case-
In Lithuania, in case of financial dispute, the central bank instructs the commercial banks to block a portion of (or full or even more than) available balance. After further legal proceedings the central bank may ask the Bank to transfer a part of the funds to Bailiff's account at an external Bank, which should happen via SEPA channel

  • Sreejith Varma
  • Jul 23 2020
  • Planned
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