To folks who worked with financial organisations, I wonder how accurate the Account Balance updated examples are with respect to transaction isolation and concurrent updates? Or do banks just updates ledger and balances in a literally serialized manner with one thead avoiding any complexity altogether?
by b20000 on 2/14/24, 1:55 AM
it all just lives in a bunch of csv files on a few people’s PCs and every night a 62 year old man copy pastes it together and checks everything and then uploads it to some old mainframe. he is the only one who knows how to do that job.
by sloaken on 2/14/24, 4:09 AM
I remember one bank used to, and it was big news, process all deductions from accounts, then issue overdrawn penalties, then any deposits. So if you had $500 in your account, then deposited $500 in cash, then withdrew $501, you would be overdrawn and assessed a penalty. Oh and it was a very major bank (in the US).
by twunde on 2/14/24, 7:01 PM
by throwaway828 on 2/14/24, 7:04 PM
Look into Flexcube docs to more fully answer your questions. It's a reasonably well established core banking product, or series of products.
by gitgud on 2/14/24, 12:04 AM
It’s all an immutable ledger, where the “account balance” is just a sum of all transactions on the account…
disclaimer: I don’t work in finance at all
by stop50 on 2/13/24, 6:23 PM
In the past it was mostly the second, but now its the first.