Platform setup - Holidays and administrative divisions

By default, the Pismo platform operates 24 x 7 x 365 and allows platform activities to occur at any time. However, in practice there are legal, security, and regulatory factors that restrict financial activities on certain days. These factors also can vary by location and type of business.

Banks and other financial institutions operate on a schedule of business days, when normal business activity occurs) and non-business days (when offices are closed, limiting commerce and delaying access to funds. To help manage these situations, the platform provides the Holidays API and Divisions API, to automatically manage platform activities based on when and where the activities take place:

  • Holidays API: Define the working and non-working days for your organization on the Pismo platform. This enables you to associate business rules that restrict certain platform activities based on the date or day of the week. Every holiday must be associated with at least one division.
  • Administrative Divisions API: Most businesses that use the Pismo platform operate in multiple states and countries around the world, which use different regulations and calendars. Divisions separate your organization into logical groups (usually by geography), enabling you to restrict operations according to different schedules. An administrative_divisions_id is required when configuring a non-working day.

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Holidays (outdated) API

The original Holidays API was designed to support only national holidays. These endpoints are being maintained for legacy implementations only. The new Holidays and Administrative Divisions APIs enable you to schedule non-business days far more flexibly (including weekends and state, municipal, and local holidays) and according to your own specific requirements.

Endpoints for core banking and transaction banking

To support transaction banking accounts, the Divisions API uses metadata objects, which contain the rules for blocking some transaction activities on non-business dates:

{
           . . . 
           
    "WorkingDays": "1,2,3,4,5",
    "Metadata": {"post_interest": false}
 }

This is the main reason why the Holidays API maintains two versions of some endpoints — v1 for core banking and v2 for transaction banking. For instance:

Define non-working days (weekends and holidays)

When configuring days, the Pismo platform uses numerical values. For example: 0 = Sunday and 6 = Saturday (but note that these values might differ depending on the programming language). You must determine which days are non-working days for every division in your organization.

After you create divisions and holidays, you can apply different interest accrual configurations to use for the accounts that you link to each division. For example, your configuration may allow fund transfers only on days 1 through 5. So, if a Transfer funds request occurs on a weekend (day 0 or 6), the platform blocks the transaction.

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Implementing divisions and a schedule of non-working days

Configuring holidays and administrative divisions requires careful planning, because errors can lead to serious consequences. For instance, if a bank holiday is set incorrectly, it could lead to unexpected loss of access to funds or inability to process payments.

Considerations include laws and regulations, days of the week and holidays, as well as other factors that may be specific to a particular state or region. Therefore, the APIs provide only the basic objects and data structures that you must configure, based on your own unique circumstances.

For assistance and answers to any questions, contact the Pismo Service Desk.

Define administrative divisions

Many holidays are specific to a particular state or region, while others are celebrated more widely throughout the country. For instance, if your company does business in the UK, you can define an administrative division for each member country and then define the holidays for each division. For example:

  • New Year’s Day and New Year’s Day are bank holidays throughout the UK.
  • 2nd January is a bank holiday in Scotland only.
  • St. Patrick’s Day is a bank holiday in Northern Ireland only.

Divisions are designed to have parent-child relationships. For example, a geographic division 1021 for Maranhão (state) can be a child of the division 1001 for Brazil (country) and a parent of division 1031 for Bacabeira (city).

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Administrative division ID is a required attribute for configuring a holiday. You must provide an administrative_division_id value unless you provide an external_id, which lets you keep using an existing ID from another system.

Division A attributesDivision B attributesDivision C attributes
AdministrativeDivision_ID: 1001
Name: Brazil
Parent_ID: NULL (top level)
AdministrativeDivision_ID: 1021
Name: Maranhão
Parent_ID: 1001
AdministrativeDivision_ID:1031
Name: Bacabeira
Parent_ID: 102
[
    {
        "AdministrativeDivision_ID": 1001,
        "Parent_ID": null,
        "Org_ID": "TenantTest",
        "Name": "Brasil",
        "Type": "Country",
        "External_ID": "BR",
        "WorkingDays": "1,2,3,4,5",
        "Metadata": {"post_interest": false}
    },
    {
        "AdministrativeDivision_ID": 1021,
        "Parent_ID": 1001,
        "Org_ID": "TenantTest",
        "Name": "Maranhão",
        "Type": "State",
        "External_ID": "MA",
        "WorkingDays": "1,2,3,4,5",
        "Metadata": {"post_interest": false}
    },
    {
        "AdministrativeDivision_ID": 1031,
        "Parent_ID": 1021,
        "Org_ID": "TenantTest",
        "Name": "Bacabeira",
        "Type": "City",
        "External_ID": "MA_Bacabeira",
        "WorkingDays": "1,2,3,4,5",
        "Metadata": {"post_interest": false}
    }
]