1. Core Banking: Overview

The Core Banking module in Wifox Business Core Solution (WBCS) provides a centralized, API-driven platform for managing all your institution’s financial accounts and transactions in real time. Key features include: 

 

 

 Universal Ledger: A single, immutable record of all account balances, deposits, withdrawals, transfers and fees—across projects, desks and client portfolios. 

 

 

 Account Lifecycle Management: Open, suspend, close or reassign digital accounts with full KYC/AML enforcement, custom account types (e.g. checking, savings, escrow) and IBAN assignment. 

 

 

 Real-Time Transactions: Process intra-bank transfers, external ACH/SWIFT payments and QR-code or card-based transactions instantly, with immediate balance updates and notifications. 

 

 

 Multi-Currency & FX Support: Hold and transact in multiple currencies per client or project with live exchange-rate feeds, automatic currency conversion and cross-currency fee schedules. 

 

 

 Configurable Interest & Fees Engine: Define tiered interest-rate schedules (daily, monthly, annual), overdraft penalties, maintenance fees and one-off charges—all computed automatically per account. 

 

 

 Role-Based Security & Audit Trails: Fine-grained permissions control who can view, initiate or approve transactions; every action is logged with user metadata for compliance and forensic review. 

 

 

 Regulatory & Management Reporting: Out-of-the-box balance sheets, P&L reports, transaction journals and custom report builder—exportable in PDF, CSV or JSON for regulators, auditors and executives. 

 

 

 Extensible API Layer: Fully documented REST endpoints for account inquiry, transaction posting, batch settlement and webhook notifications—easy to integrate with mobile apps, payment gateways or partner platforms. 

 

 

 Core Banking module includes the following sections: 

 

 

 Accounts : Serve as containers for managing financial activities and transactions within the system. 

 

 

 Assets : Represent various forms of value, including cryptocurrencies, traditional fiat currencies, trade-ins, NFTs and more, and are assigned to specific accounts. 

 

 

 Banks : Stores information about the details of the banks in use. 

 

 

 Cards : Stores information about the details of the cards in use. 

 

 

 Transactions : Displays deposits, withdrawals, and other activities involving the client's financial resources. Global model for accounting of cash flow in your system/product. 

 

 

 Payment Methods : Contains information about payment systems, allowing users to pay for services and goods on your site. 

 

 

 Platforms : Customizes integration with banks and other platforms that store information about accounts and assets. 

 

 

 Configurations : Manages general settings for the Core Banking module. 

 

 

 Company Fees : Customizes the fees the company charges during transactions and manages fee groups. 

 

 Invoices : Manages billing records issued to clients, including invoice creation, status tracking (Pending, Paid, Expired, etc.), related transactions, postbacks, and supporting documents.