1. Introduction to Transaction Types

Transaction types allow organizations to classify and manage financial transactions efficiently within the system. By defining specific transaction types, users can apply monitoring rules, filter transactions, and enhance fraud detection and compliance management.

1.1 Purpose of Transaction Types

Defining transaction types helps organizations:

• Improve Transaction Monitoring: Apply specific rules to different types of transactions for better risk detection.

• Enhance Fraud Prevention: Identify patterns in transaction behavior and detect anomalies.

• Streamline Compliance Procedures: Ensure that regulatory requirements are met by categorizing transactions appropriately.

2. Defining Transaction Types in the System

Users can create and manage transaction types through the system interface, specifying key attributes that define their behavior.

2.1 Key Transaction Type Parameters

• Name: Each transaction type must have a unique name.

• Active Status: Determines whether the transaction type is currently active or inactive.

• Sorting and Ordering: Users can sort transaction types based on creation date (createdAt) or unique identifier (id) in ascending (ASC) or descending (DESC) order.

Example:

Transaction Type Name: "Card Payment"
Active: True

Other transaction types may include:

• Swish Payment

• Bank-Giro Transfer

• Remittance

• Instant Payment

• Cross-Border Transaction

• Region-Based Transactions (e.g., "Europe Transactions", "Asia Transactions")

2.2 Transaction Type Associations

Transaction types can be linked to:

• Transaction Monitoring Rules: Ensuring that specific rules apply only to relevant transaction types.

• Risk Assessment Models: Assigning different risk levels based on transaction type categories.

3. Transaction Type Management Features

3.1 Creating a Transaction Type

To create a new transaction type, users must provide:

• Name (String, must be unique)

• Active Status (Boolean, True/False)

Upon creation, the system assigns a unique identifier to the transaction type.

3.2 Retrieving Transaction Types

Users can fetch a list of existing transaction types with filtering options such as:

• Sorting by ID or creation date

• Filtering by active status

• Defining a start and end range for paginated results

3.3 Updating a Transaction Type

Users can modify transaction types by:

• Renaming the transaction type for better classification.

• Activating or deactivating transaction types based on business needs.

3.4 Deleting a Transaction Type

Transaction types that are no longer relevant can be removed. Deleting a transaction type may impact rules and monitoring processes, so careful review is recommended before deletion.

4. Transaction Types and Transactional Analysis

Users can filter transaction types when conducting transactional analysis, receiving metrics, graphs, and flow analysis for:

• A Single Transaction Type (e.g., analyzing "Swish Payment" trends)

• Multiple Transaction Types (e.g., comparing "Instant Payments" vs. "Bank-Giro Transfers")

• Regional Transaction Flows (e.g., comparing transactions in "Europe" vs. "Asia")

By filtering transaction types, users can generate insights on:

• Transaction volume trends over time

• Risk exposure per transaction type

• Fraud detection patterns based on specific transaction categories

5. Transaction Types and Compliance

Transaction types play a crucial role in ensuring compliance by:

• Facilitating regulatory reporting through proper categorization.

• Enabling rule-based monitoring for specific transaction behaviors.

• Reducing fraud risk by identifying unusual transaction types.

6. Summary

Transaction types provide a structured way to classify financial transactions, ensuring that monitoring rules are applied efficiently. By defining transaction types with active statuses and sorting options, users can align their compliance framework with business operations and enhance fraud detection capabilities. The ability to dynamically update or remove transaction types ensures that monitoring remains adaptable to changing regulatory and operational needs.