XYB Accounts Overview
XYB Accounts is a core banking component designed to help financial institutions, fintechs, and banks create, manage, and scale customer and business accounts. With XYB Accounts, you can design and launch current accounts, savings accounts, multi-currency and global account products tailored to your business needs through endlessly flexible configurations.
How it Works
XYB Accounts are configured and operated in the following ways:
a) Product Configuration via Console
Use the web-based Console to define the structure and behavior of your account products. This includes:
Naming and describing your product (e.g., "Retail GBP Wallet")
Setting default currency, jurisdictions, initial states
Linking rules for balance behavior, lifecycle transitions, and sweeping
Attaching services like balance management or access control
Customizing metadata using the Schema Builder
Think of it as designing reusable templates for account creation.
b) Operate with APIs & Kafka Events
Once your product is configured, you can use REST APIs to:
Create and manage accounts
Attach wallets and banking coordinates (IBAN, BIC, etc.)
Query balances and lifecycle status
Trigger account updates or transitions (e.g., suspend, close)
XYB also emits Kafka events for:
Account creation and updates
Balance changes
Lifecycle transitions
Compliance-triggered suspensions
These events can integrate with fraud engines, analytics, notifications, and more.
c) Integrate with Internal (XYB) or External Components
XYB’s account engine is ledger-agnostic and modular. You can:
Use XYB’s built-in ledger
Bring your own core ledger (e.g., Thought Machine, TCS BaNCS)
Integrate with 3rd-party payment partners (e.g., LHV, CurrencyCloud)
Plug into existing KYC, policy, or notification systems
Integration complexity is abstracted away using adapters, so your core setup remains clean and API-first.
Key Benefits
Multi-access: Accounts support a multi-user model where multiple entities can be linked to a single account. This enables collaborative account management scenarios such as finance teams, business accounts, or technical admins
Ledger Agnostic: Use XYB’s built-in ledger, or bring your own e.g., Thought Machine or TCC.
Configurable Products: Define reusable templates for each type of account, controlling everything from wallet setup to ledger group.
Entity-Centric: Accounts are linked to legal entities, enabling complex structures like joint accounts or B2B hierarchies.
Real-Time & Event-Driven
Kafka events on account creation, updates, and balance changes.
Instant integration with downstream services like risk engines, customer portals, and reporting tools.
Modular and Headless
Use only what you need just the accounts layer, or the full stack with ledger and payments.
Embed account functionality into your own UI, or use XYB’s micro-frontend components (MFE).
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