Key Concepts

Account

An account represents any entity in your system that can perform activities or transactions. Accounts can be associated with individuals or business entities. Accounts can have custom data structures based on your specific needs, the only mandatory field is an unique account ID.

Activities

Activities represent any non-transactional event on an account. For example, login events, new devices, password changes, profile updates, or any other interaction. Activities help build a behavioral profile of the account.

Transaction

Transactions represent transfers, purchases, deposits, withdrawals, or any other financial activity on an account. Transactions must have an ID and an amount in US Dollars.

Risk Scores

Finic provides three types of risk scores:

1. Entity Risk Score - Evaluates the risk associated with a business or individual entity based on various factors including presence on sanctions watchlists, business registration data, and adverse media.

2. Transaction Risk Score - Analyzes individual transactions to determine their risk level and whether they should be blocked. This score considers transaction patterns and rule violations.

3. Behavioral Risk Score - Assesses risk based on account behavior over time, identifying unusual patterns that may indicate fraudulent activity.

Modes

Risk scoring endpoints support two modes:

• FAST - Provides quick risk assessments with basic information, ideal for real-time decisioning on transactions and account applications. Risk scores in FAST mode are based solely on rule violations.
• COMPLETE - Delivers comprehensive AI-powered risk analysis, ideal for case management and investigations. Risk scores in COMPLETE mode are based on rule violations, as well as AI analysis of

Data Schemas

Finic’s API is flexible and can accept custom data structures for transactions, activities, and accounts. When sending data with a new schema, set update_schema=true to update the expected format.