The purpose of Transaction Monitoring Service (TMS) API is to facilitate the submission of a transaction to the Actio platform so that the transaction can be evaluated for behaviour that may indicate financial crime, including fraud and money laundering.
The Actio platform is designed to be able to take on transaction messages from customer platforms, evaluate these messages for specific behaviours, and deliver an assessment of the financial crime risk inherent in the transaction.
Actio can be deployed to service the needs of a single DFSP, a switching platform such as Mojaloop, and also a combination of DFSP and switching platforms in what is called a “Semi-attached” configuration:
In this configuration, the switching hub and DFSPs both inside and outside the switching eco-system can submit transaction messages to the Actio platform for evaluation.
To facilitate this configuration, the Actio platform exposes its services through its own API.
The TMS API implements ISO 20022 message formats to facilitate Payment Initiation messages pain.001 and pain.013 (equivalent to Mojaloop POST and PUT Quote messages) and Payment Settlement messages pacs.008 and pacs.002 (equivalent to Mojaloop POST and PUT Transfer messages).
ISO20022 is traditionally an XML-based standard, but Actio has implemented an abridged JSON message format to minimise the message payload to increase the performance and lessen bandwidth requirements.
For more information on Actio’s ISO 20022 implemented, see the ISO20022 and Actio page.
The TMS API ingests transaction messages in real-time through secure API endpoints. Each incoming message is validated using a Swagger document to ensure that the message meets the requirements to be ISO 20022 compliant, and also that the information that is necessary for a successful evaluation is provided.
If an Actio client platform is unable to submit messages in the required ISO 20022 format, client organisations would need to submit their transactions to a custom-built adaptor so that their transaction can be transformed and then passed to the Actio platform to meet the specification of the Actio Transaction Monitoring Service (TMS) API.
A Mojaloop Payment Platform Adapter, along with the integration design into Mojaloop has been specified and approved, but not yet developed.
The implementation of the TMS API is covered on the /wiki/spaces/FRMS/pages/1739897 Developer Documentation page.