Importance

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Abstract

Embodiments include a system, or platform, and method allowing financial institutions (FIs) to have access to an account opening platform that is capable of completing every aspect of the account opening approval process for the FI, and that is also capable of interfacing with their respective core systems (regardless of type or protocol) for receiving account opening requests from customers. Account opening requests may encounter permanent or temporary errors. When temporary errors are encountered, the account opening request is placed in a queue and automatically retried until the error is resolved. The account opening platform performs real-time integration with a variety of core systems such that approved new accounts are immediately 'boarded' to the FI's core. In an embodiment, the platform is a plug-and-play' architecture such that adding the ability to communicate with new or different cores requires minimal effort. For example, no recoding of basic FMS software is required, but only coding of a plug-in module for a specific FI.

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First Claim