Rego Payment Architectures Inc., a Florida, USA based company, is a provider of mobile banking solutions. Oink is a family focused all digital mobile payment solution meant for children in order to manage their pocket money (income, savings and expenditures) by using their mobile phone. The system provides fully automated parental controls and multiple layers of security. The new parental controls provide flexibility for managing the child’s funds while ensuring privacy and protecting the transactions. The children will have the freedom to shop online and offline, while learning financial discipline all within the constraints set by their parents / legal representatives. The system and the children’s transaction are fully compliant to COPPA (Child Online Privacy Protection Act). This new service will be offered into what is conservatively a $260 billion market.
The Oink platform is based on a unique and modern architecture. It combines components for dynamic case management, complex decision making based on semantic technology, blockchain services, integration services, authentication services, notification services, KYC-services, email-services, security services and standard programming tools used to develop the user experience for mobile and web. The components are not generic IT-components but components supporting logical business services so that a small business change won’t cause substantial changes in IT. The architecture is designed to manage the wallets of tens of millions of children.
Rules centric Business architecture
CognitionConcept designed and implemented a rules business architecture as core of the platform. Such an architecture helps to support the separation of concerns by identifying separate owners for process, product and law each with their own responsibility.
Starting point is to put the child’s or parent’s journey at the centre of the process design. This enforces to design outside in, instead of inside out. Activities should be performed in an order that makes sense to the individual child or parent. The flow and the status of a process are determined at run time based on the goal that has to be achieved (E.g. the purchase, the saving, etc.). This is called a goal oriented constraints based process. Activities are generic and product agnostic. Each activity needs to take a decision. The decision to take is mostly dependent on the product or the service to be delivered. The decisions to make are key for the organization. They represent the policies of the organization and the regulations like COPPA to comply to. At the same time the number of policies and regulations are continuously growing. The agility of Rego is determined by the speed and ease with which it can cope with change of decisions. This justifies or even requires to set up a decision centric business architecture. In combination with the use of semantic technology, changes can be adjusted very easily and fast.
Transactions and blockchain
The Transaction module, the core of the system, is designed in a way that it is reusable for each of the platforms of Rego. The different kinds of transactions are typed enabling to relate business rules to each of the types which can be processed when a transaction is performed.
Each transaction will also be stored in an external blockchain platform. Because the transactions in the blockchain are not mutable, Rego can always guarantee and proof that they can’t manipulate transactions. The bank also writes its transactions (deposits and payments) to the blockchain, again to prove Rego can’t manipulate transactions.
The user-interaction is fully supported by services provided by the back-end. This means that no business logic is coded in the front-end. The front-end is using a standard framework to handle each service accordingly. Changes made in the services are directly validated by automated test services before deployment in order to prevent errors in the front-end handling.
John Coyne CEO of Rego Payment Architectures Inc. said: “We’ve done something very, very difficult, in a time frame nearly unheard of for a major application. We have already developed our base platform in a matter of months rather than years allowing us to enter the under 17 market this year with our COPPA complaint Oink technology. More importantly, the flexibility we have in our development means that we can change and adapt our system to meet both market and user demands. This is especially important in our regulatory module that can anticipate regulatory changes implementing compliance within days rather than months protecting our users and the vendors that accept payment through our platform.”