Design and Implement a Wire Transfer API — System Design Interview Practice
Design a secure API for bank wire transfers with compliance and fraud detection. Work through the requirements, architecture trade-offs, and an interactive design review.
Requirements and concepts to consider
- Initiate domestic and international wire transfersRequirement
- Account verificationRequirement
- Transaction limits and controlsRequirement
- Fraud detection and preventionRequirement
- Compliance with regulations (AML, KYC)Requirement
- Transaction status trackingRequirement
- Idempotency for API callsRequirement
- Audit trail for all transactionsRequirement
- paymentsConcept to explore
- wire transferConcept to explore
- financialConcept to explore
- securityConcept to explore
- complianceConcept to explore