Interest API

QFD can integrate either via REST or SOAP using real time API calls to the system of record in order to perform interest calculations.

As a system, QFD can calculate interest using either simple or compound interest, and by either 360 or 365 days (to be decided by the client and their business needs).

Note: Our default is to use compound interest calculated against 365 days as it is the least likely to expose us to regulatory violations.

Since each system of record requires its own unique set of request parameters, we will need the following details to be provided:

1. API method name for determining interest rate and statement cycle days

2. Request REST JSON or SOAP XML sample

3. Response REST JSON or SOAP XML sample