Money Movement

Overview

Money Movement defines the array of financial operations permitted within the system, ensuring a structured and efficient approach to managing transactions. These operations are vital for maintaining the integrity and smooth operation of financial interactions and consist of six key activities that cover the entire financial cycle:

Business

A business is a registered entity within the Closed Loop ecosystem that operates through its own dedicated operational account. This account serves as the central financial hub for the organization, enabling secure and controlled participation within the ecosystem while ensuring compliance with system policies and operational standards. It provides the organization with the tools required to manage financial activities efficiently and maintain accurate records of all transactions.

This account enables the organization to perform several essential functions, including the following:

1. Managing incoming and outgoing funds efficiently across all transactions
2. Maintaining clear financial visibility and real time oversight
3. Operating securely within the system’s controlled environment
4. Creating and managing multiple wallets tailored to different operational needs and purposes
5. Supporting various business operations such as payouts, collections, refunds, and internal transfers
6. Enabling reconciliation and reporting for audit and financial analysis purposes
7. Allowing authorized team members to access and manage funds according to defined roles and permissions

Wallet

Wallets provide a flexible layer that allows businesses to organize, distribute, and control funds efficiently.

Key benefits include:

• Clear separation of funds by purpose, team, or project
• Improved financial tracking and reporting
• Faster internal transactions without affecting the main account
• Greater operational control and accountability
• Scalable structure as the business grows

Businesses can manage wallets through the following actions:

1. Create a wallet that generates a unique wallet account, starts with a zero balance, links directly to the parent business, and can be labeled by purpose such as operations, campaigns, or savings.
2. Access all wallets associated with the business and filter them by business unit, status, label, or type to monitor activity across different operational areas.
3. Update wallet details without affecting existing funds, including the display name, status, configuration settings, and external references.
4. Review each wallet’s configuration and operational status to confirm readiness for transactions and support internal dashboards and monitoring.
5. Retrieve the current available balance to enable pre transaction checks, reporting, and effective financial oversight.