What is a Financial Coresystem?

Greetings, friends! We’ve promised to talk about our Financial Coresystem, which has been developed by the Karma team. Here we are!

So, the Financial Coresystem is a system that automatically takes into account the movement of users’ funds on the platform. Thus, it makes a record which says who paid whom, who received money from where, to whom the commission went and in which amount.

The Coresystem allows you to replenish and withdraw funds from users’ bank accounts, withdraw and redistribute money among users according to payment schedules. At the same time, it simultaneously interacts with a bank client, the backend and blockchain.

Financial Machine

The Financial Coresystem consists of several microservices: billing system, accounting system, payment scheduler. More details here.

  • Billing system receives from the bank information about the account cash flow and sends payment orders to the bank.
  • The accounting system is engaged in counting user funds within the platform, it receives information about receipts from the billing system, initiates a reflection of the movement of funds in the blockchain, interacts with the subsystem of work with payment schedules (payment scheduler)
  • Payment scheduler is engaged in making and accounting for changes in payment schedules after the application enters the market as well as in the process of repaying loans.

This is a wonderful machine that makes Karma platform operations absolutely transparent and convenient. We look forward to take the very best of it!

Cheers ^ _ ^