Accounts

The Accounts module will manage all financial accounts within the UBU Digital Finance Solution.

Overview

This module will provide comprehensive functionality for creating, managing, and monitoring financial accounts, including:

• Account creation and management
• Account type definitions
• Balance tracking and history
• Account status management
• Integration with other system modules

Planned Features

Account Management

The system will support various types of financial accounts:

• Savings Accounts: For storing funds with interest
• Checking Accounts: For day-to-day transactions
• Investment Accounts: For investment activities
• Loan Accounts: For tracking loan balances
• Credit Accounts: For credit facilities

Each account will:

• Be assigned a unique account number
• Be associated with a customer
• Have a specific account type
• Track balance and currency
• Have a status (active, inactive, closed, etc.)
• Record creation and update timestamps

Account Types

The system will support defining different account types with:

• Specific interest rates
• Fee structures
• Minimum balance requirements
• Transaction limits
• Overdraft facilities
• Specific terms and conditions

Balance Management

The system will maintain accurate account balances:

• Real-time balance updates
• Available balance vs. actual balance
• Pending transaction tracking
• Overdraft management
• Interest calculation and application
• Fee application

Account Statements

The system will generate account statements:

• Periodic statements (monthly, quarterly)
• On-demand statements
• Transaction history for specific periods
• Balance history
• Interest and fee summaries

Integration Points

The Accounts module will integrate with other system components:

• Transactions Module: To process transactions affecting account balances
• User Management: To associate accounts with customers
• Authentication Module: To verify user permissions for account operations
• Organizational Units: To implement branch-level account management
• Loans Module: To link loan accounts with customer profiles

Planned API Endpoints

Endpoint	Method	Description
/account/	POST	Create a new account
/account/	GET	Get all accounts (with filtering)
/account/{account_id}	GET	Get a specific account
/account/{account_id}	PUT	Update an account
/account/{account_id}/status	PUT	Update account status
/account/customer/{customer_id}	GET	Get accounts for a customer
/account/{account_id}/balance	GET	Get account balance
/account/{account_id}/statement	GET	Generate account statement
/account/types	GET	Get all account types
/account/type/{type_id}	GET	Get a specific account type

Planned Data Model

The Accounts module will use the following database tables:

Account_Types

Column	Type	Description
type_id	UUID	Primary key
type_name	VARCHAR	Name of the account type
type_description	VARCHAR	Description of the account type
interest_rate	DECIMAL	Default interest rate
minimum_balance	DECIMAL	Minimum balance requirement
maintenance_fee	DECIMAL	Monthly maintenance fee
is_active	BOOLEAN	Whether the account type is active

Accounts

Column	Type	Description
account_id	UUID	Primary key
account_number	VARCHAR	Unique account number
customer_id	UUID	Foreign key to Users table
type_id	UUID	Foreign key to Account_Types table
balance	DECIMAL	Current account balance
available_balance	DECIMAL	Available balance (considering pending transactions)
currency	VARCHAR	Account currency
status	VARCHAR	Account status
created_at	TIMESTAMP	When the account was created
updated_at	TIMESTAMP	When the account was last updated
closed_at	TIMESTAMP	When the account was closed (if applicable)

Account_Balances

Column	Type	Description
balance_id	UUID	Primary key
account_id	UUID	Foreign key to Accounts table
balance	DECIMAL	Balance amount
balance_date	TIMESTAMP	Date of the balance record
balance_type	VARCHAR	Type of balance (opening, closing, etc.)

Implementation Plan

Phase 1: Core Account Management

1. Implement account type data models
2. Create account data models
3. Develop basic account creation and management APIs
4. Implement account status management

Phase 2: Balance Management

1. Implement balance tracking
2. Develop balance history
3. Create interest calculation logic
4. Implement fee application

Phase 3: Statements and Reporting

1. Implement account statement generation
2. Develop balance reporting
3. Create account analytics
4. Implement regulatory reporting

Security Considerations

The Accounts module will implement several security measures:

• Access Control: Strict permissions for account operations
• Balance Protection: Validation of all balance-changing operations
• Audit Trail: Comprehensive logging of all account activities
• Encryption: Protection of sensitive account information
• Reconciliation: Regular balance reconciliation processes

Compliance Requirements

The Accounts module will be designed to meet regulatory requirements:

• Know Your Customer (KYC): Customer verification for account opening
• Anti-Money Laundering (AML): Monitoring of account activities
• Reporting: Supporting regulatory reporting requirements
• Record Keeping: Maintaining comprehensive account records
• Interest Reporting: Accurate calculation and reporting of interest