Functional Level management set targets to be met for each department or business associates in the organisation that are in line with the main organisational targets set by Strategic Level management. Control is very important at the Functional Level. Reach objectives and think up of strategies. The Functional Level is the middle level which management make plan of action decisions that are important to the organisation, because they are thought of being more educated and more responsible than the Operation Level management but don’t have as much authority as the Strategic level management, their decisions tend to be more intermediate term issues that answer the organisations needs to complete tasks. TPS’ are designed to method transactions just about instantly to confirm that client data is out there to process what is needed. The speedy process of transactions is important to the success of any enterprise, greater than ever, with the changes in technology and client demand for immediate action. Limited access to the system ensures that workers that lack the talents to regulate it cannot influence the transaction process. The system keeps a record of all financial transactions (commissions, affiliate payouts, currency conversions, transfers, etc.).Since TPS systems are often such a strong business tool, access should be restricted to solely those workers that need their use. The client’s balance is restored to its initial state.Īssess the economic indicators of your business and analyze the cash flows in your accounts. Cancellation: the payment is returned because for some reason it could not be processed by the sender’s bank.Successful completion: the payment is moved into the outgoing payments pool by the respective bank in accordance with the currency and the payment’s destination, with further deduction of funds from the sender’s balance and crediting to the recipient’s account.Transactions of this kind are manually processed and approved by the manager. The funds are held in the system so that they could be checked for compliance with the internal policy rules and regulatory requirements. Hold: the transaction moves into monitoring (built-in tooling for keeping track of clients’ financial activity).Confirmation: getting client authorization via two-factor authentication (in compliance with the PSD2).Creation: the transaction doesn’t really exist yet, the system checks the availability of the required sum in the account to be debited.

Calculation of commissions charged per transaction can be performed at any processing stage depending on its structural logic.Įxemplary logic behind a money transfer to an external bank account: This enables anyone to model out virtually any cash flow scenario with various transaction processing stages. The Patterns come with a broad-spectrum toolbox for creating complex financial transactions with multiple transitions between different statuses and operations appropriate to them. The KoenigFinance solution incorporates a transaction building system based on the so-called Transaction Patterns. Well-Thought-Out Transaction Processing Logic The system keeps a record of changes in statuses of operations and logs the name of each manager that performed actions on them. Besides that, managers can see all internal accounting entries in transaction details, for example: incoming commission payments, affiliate payouts, currency conversion transfers, etc. The transaction transparency principle, which lies at the foundation of the KoenigFinance system, enables managers and clients to clearly see the updated account balance following successful transaction completion. The platform sports high fault tolerance: in the case of external glitches you can be sure that the results of all successful operations are safely recorded in the system.

During the course of your work, you’ll be able to perform a high number of transactions with minimal system response time.

The platform automates the optimal sequence of operations for the processing of data and completion of transactions of various kinds. The engine was designed in compliance with the ACID requirements on transactions and transactional systems. The Transaction Engine is one of the key components of the KoenigFinance platform core that facilitates the execution of internal and external financial transactions.

Transaction processing system companies