Key Concepts Product Family Management A product family is a set of business rules that defines the regulatory policies and compliances that should be adhered to while issuing credit accounts. A product family can have multiple other policies as well to govern the functionality. Some of these policies could be overridden by the issuer to create any new offering.
Product Management A product is a set of business rules that define the following for every offering within a product family:
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Know Your Customer Basics KYC Basics Published on 24th March, 2021 Know your customer (KYC) is a procedure laid down by the regulatory authorities of the respective country for the financial institutions to establish customer identity before entering into an arrangement with them to safeguard against any risk, fraud or threat. In the case of India, the regulatory authority is the Reserve Bank of India and all Indian financial institutions (regulated entities) shall comply with the RBI guidelines.
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Manage Accounts You can manage and retrieve Accounts or subsets of an Account like Resources, Account Product and Payment Product using the Bundle APIs.
Get Accounts Call /bundles/bundleID endpoint to retrieve all the existing Accounts available for a bundle. The response returns an array of all available Bundles with a unique identifier, id , for each Bundle. Each of these Bundles contain the Account details within them.
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Manage Application and Account Holder Once an application is approved by the IFI, the fusion system creates an account holder. This article walks through the different ways a fintech can manage an application and account holder using Fusion APIs.
Duplicate Application Irrespective of the number of fintechs the customer is signing up with, as per the regulations, there will be only one account holder entity with the respective IFI.
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Manage Cards Fusion provides APIs to manage various attributes of a card. In this article you learn about:
Resetting PIN
Replacing card
Deactivating card
Activating card
Deleting card
Before you begin
Before you explore Fusion’s card management APIs, we recommend that you
familiarize yourself with various card related concepts mentioned in Card orders.
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