Nubank and double entry

Nubank’s presentation – ‘Architecting a Modern Financial Institution‘ is quite interesting. Double entry accounting should be at the heart of the model for a core banking platforms general ledger and they do this at Nubank:

“And so, what we’ve done that is different from what most people do is model the double entry accounting system as an operational system, this is not an analytical system with finance, this is in real-time with customer, and we are relating business events, like a purchase or payment, to a series of entries that map to the domain model. This is a relationship between the business event and the debits and credits, and collectively it is a movement. This is a movement, you have two entries, the unsettled for the transactions that come in that have not settled and the current limit.”

Edward Wible and Rafael Ferreira at Nubank

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