Digital Banking Platform Development

Core account management maintaining a double-entry ledger for every customer account -- each debit and credit posted as a balanced ledger entry with the transaction type, the counterparty, the timestamp, and the running balance calculated from the posted entries rather than stored as a field that can drift from the ledger. Account types configurable per product -- current accounts, savings accounts, sub-accounts for goals or pots, and business accounts with multiple signatories -- each with its own ledger and its own product terms. Transaction posting from payment events -- incoming bank transfers, outgoing payments, card transactions, interest credits, and fee charges -- each generating a ledger entry with the transaction reference and the narrative provided to the customer. Balance calculation from the ledger entries in real time so the balance displayed to the customer reflects the last posted transaction rather than a cached figure that can be stale. Statement generation from the ledger entries for any date range, formatted for in-app display, PDF download, and Open Banking statement sharing.

Card programme integration with a card issuance provider -- Marqeta, Thredd, or a direct card scheme connection -- for physical and virtual card issuance linked to the customer's account ledger. Card issuance workflow generating a card number, CVV, and expiry linked to the customer's account with the card record stored and the card management functions -- freeze, unfreeze, PIN management, and cancellation -- accessible from within the product. Real-time transaction authorisation processing incoming card authorisation requests from the card scheme, checking the account balance and any spending controls configured by the customer, and responding with an approval or decline in the time frame the scheme requires. Spending controls configured per card -- daily spending limits, merchant category blocks, contactless transaction limits, and international transaction controls -- applied at the authorisation stage rather than retrospectively. Transaction notification pushed to the customer's device at the point of card authorisation so they see the transaction the moment it happens, with the merchant name, the amount, and the remaining balance displayed.

Open Banking API integration connecting to the major UK and European banks through a regulated AISP or ASPSP connection to retrieve account data and initiate payments under PSD2 and the UK Open Banking Standard. Account aggregation pulling transaction history and balance data from connected external accounts into the product -- the foundation for whole-of-wealth views, affordability assessments, and personal finance management features. Payment initiation processing bank-to-bank payment requests from within the product using the customer's connected external account as the funding source, without requiring the customer to enter payment details or use a card. Consent management recording and managing the customer's open banking consent -- the scope of data access, the expiry date, and the renewal prompt -- in compliance with the Strong Customer Authentication requirements and the data minimisation principles that apply to regulated data access. Data refresh managing the scheduled or on-demand refresh of connected account data, handling token refresh when access tokens expire, and surfacing connection errors to the customer with a prompt to reconnect.

Digital KYC onboarding flow collecting the customer's identity document, running automated document verification against the issuing country's document format database, and performing a liveness check to confirm that the document belongs to the person completing the onboarding. PEP, sanctions, and adverse media screening against real-time databases -- WorldCheck, Dow Jones, or similar -- at the point of onboarding and on an ongoing basis for the customer's lifetime on the platform. Risk-based customer due diligence applying enhanced due diligence steps for customers who trigger higher-risk signals at onboarding -- politically exposed persons, customers from higher-risk jurisdictions, or customers whose stated purpose of account is in a higher-risk category. Onboarding decision engine applying the product's customer acceptance policy to the outputs of the KYC checks and making an automated accept, refer, or decline decision, with referrals routed to the compliance team's review queue. Onboarding analytics tracking completion rate, drop-off point, and average completion time across the onboarding funnel so the product team can identify the steps where customers abandon the process.

Faster Payments and CHAPS outgoing payment processing for UK-domiciled accounts, with the payment instruction formatted to the scheme's technical standard and submitted through the payment scheme connection or the sponsor bank's API. Incoming payment processing handling credits received through Faster Payments, CHAPS, and BACS with the incoming payment posted to the correct customer ledger and the customer notified in real time. SEPA and SWIFT connectivity for international payment products, with the payment instruction formatted to the relevant scheme standard and the correspondent banking relationship managed through the banking infrastructure partner. Payment reference management generating and validating payment references -- sort codes, account numbers, IBANs -- linked to each customer account and used to route incoming payments to the correct ledger. Transaction enrichment adding merchant name, logo, and category data to card and payment transactions so the transaction history shows recognisable merchant information rather than raw payment reference strings.

Transaction monitoring for AML applying rule-based monitoring to the customer's transaction activity -- structuring patterns, rapid movement of funds, unusual transaction volumes -- with alerts generated for the compliance team's review when a customer's activity triggers a configured rule. Customer risk scoring maintaining a dynamic risk score for each customer based on the account activity, the transaction patterns, and the KYC information collected at onboarding, with score changes triggering a review of the customer's due diligence status. SAR workflow for the nominated officer to raise, review, and submit Suspicious Activity Reports to the NCA through the system, with the SAR record stored and access restricted to authorised compliance personnel. Regulatory reporting producing the data required for FCA regulatory returns, e-money institution reporting, and HMRC reporting obligations in the required format and at the required frequency. Audit trail recording every compliance action, every KYC decision, every customer contact, and every transaction monitoring alert with the timestamp and the identity of the user who took the action.