Transact Integration with Retail Origination

Transact is the Temenos Core Banking system, which supports the full range of banking operations and services, including retail, corporate, treasury, wealth management, and payments.  Notably for our purposes, it maintains arrangements, which represent detailed agreements between the bank and its customer.  An arrangement is an instance of a banking product like a savings or checking account, term deposit, or a lending product like a credit card, personal or business loan, or line of credit.

Transact Modules

Transact includes the following modules:

• Customer (CUSTOMER): This module maintains customer information.
• Arrangements Architecture (AA): The bank uses AA to define products that define the details of the agreement between the bank and the customer.  An arrangement is an instance of such a product (e.g., a term deposit or line of credit).
• Payment Order (PO): This module handles the creation of payment orders and routing them the payment system.

Transact APIs

The Retail Origination application interacts with Transact by way of its extensive catalog of APIs.  Specifically:

API	Context Path
Retrieve existing customer details	/customers/{customerId} or /customers/?taxId{taxId}
Create customer	/party/customers
Retrieve customer accounts	/party/customers/{customerId}/arrangements
Retrieve existing account details	/holdings/accounts/?accountId={arrangementId}
Retrieve loan payment details	/product/{productType}/commitment/{amount}/period/{term}
Retrieve deposit plans	/product/{productId}/interestRates/simulations
Create loan	/holdings/loans
Create savings account	/holdings/accounts/savingsAccounts
Create checking account	/holdings/accounts/currentAccounts
Create (term) deposit account	/holdings/deposits/termDeposits
Internal funds transfer	/order/paymentOrders

 

For more information on the Transact integration APIs see:

https://developer.temenos.com/service/party-customer-management

https://developer.temenos.com/service/account-arrangements

https://developer.temenos.com/service/loan-creation

https://developer.temenos.com/service/payment-orders

API Security and Authorization Mechanisms

Calls to the Transact APIs use OAuth 2.0 for authorization with the Resource Owner Password Credentials (ROPC) grant type.  With this grant type, Digital Origination must store and protect:

• The client ID identifying Digital Origination as a trusted application,
• The client secret,
• The user ID for the resource,
• The password.

Before making any API call to Transact, Digital Origination must obtain an access token from the authorization server.  Digital Origination passes the four data elements listed above to the authorization server to obtain the access token.  It is not necessary to request a new access token for every API call, so Digital Origination caches the token to be used again and retrieves a new token only if the cached one fails.

The credentials used to obtain an access token are stored in Service Connections on the Digital Onboarding server.  The user ID and password are stored in a service connection called "Temenos Core" and the client ID and client secret are stored in another service connection called "Temenos Core Access Token."