System of Record
What is a System of Record?
The System of Record is that system which is considered the authoritative source for a given data element or piece of information.
Common Mistake #1: Not Understanding System of Record
The CorePro API Platform is the System of Record for all product used in the API. Enable your developers to focus on solving other problems with the understanding that CorePro does the job of keeping track of balances, processing incoming files from other banks, adding transactional information, and managing the key information required to participate in the financial markets.
Common Mistake #2: Not relying on CorePro account state
A common mistake we see developers make is attempting to cache-in account and transactional data from Customers as a kind of pseudo-system of record. The critical mistake here is that an account, the balances of that account, the beneficiaries, and other transactional information can all be updated out of band from the application calling the API.
Test your knowledge of these concepts.
1. What system is the system of record for my application's user specific data?
2. What system is the system of record for my application's banking specific data?
3. What is NOT a system of record?
4. My application needs the analytics from my Customer transactional activity. How should I get that information?