The Diaspora Remittance & Savings Platform is composed of the following high-level services and functional domains:
- Identity & Auth Service
- User registration, login, and password/PIN management.
- Token management (JWT or equivalent).
- Session validation and enforcement of security policies
- Onboarding & KYC Service
- Document upload, address collection, and biometric (face) verification
- Storing and tracking KYC decisions, including failed verifications
- Enforcing required KYC levels for actions such as wallet access and sending money
- Account Linking Service
Provides connectivity to U.S. bank accounts via open-banking providers:- Integrates with the open banking aggregator in the USA & Canada.
- Secure tokenised linking of a user’s U.S. bank account
- Linked accounts are used as funding sources for transfers and account top-ups
- Remittance Service
Central layer for all cross-border payments:- Handle money movement between U.S. Accounts to the African Banks (cross-border).
- Integrates with the sponsor bank in the USA.
- Integrates with payout partners for cross-border payments (bank, mobile money)
- Handles Currency Exchange rate, calculation, and displays rates.
- Applies compliance checks, transaction limits, and routing rules
- African Account Creation (TBD with Financial institution)
Supports opening and managing bank accounts for senders in Africa:- Integration with the Financial institution to present available account options
- Initiates the loan application process, KYC, and identity verification required for account opening
- Enables users to top up these accounts and monitor balances from within the Diaspora app
- Balance & Ledger Service
- Tracks user and system balances across multiple currencies
- Records all ledger entries for deposits, transfers, conversions based on the configuration and fees, savings contributions, etc.
- Maintains transaction logs for audit, reconciliation, and reporting
- Savings Service
- Supports personal goals (create, view, update progress)
- Executes manual and scheduled (automated) contributions
- Handles goal withdrawal, settlement, and cancellations
- Integrates with bank investment products (where applicable)
- Advisor & Recommendation Service
- Lists advisors and profiles.
- Manages appointment booking and notifications.
- Provides personalised product offers (“For you” module).
- Notification Service
- Push notifications for transactions and alerts.
- SMS and email confirmation for the transactions (Fees may apply for SMS).
- Optional integration with WhatsApp for advisor appointments or reminders.
- Reporting & Analytics Service
- Provides transaction analytics for U.S. & Canada accounts.
- Generates downloadable reports for users and internal teams.
- Enables users to view detailed activity logs, history, and statements
- Supports internal dashboards for monitoring performance and trends
