Ledger Principles
Lithic enforces the following principles to ensure accuracy and scalability in how you track funds.
Balanced
For each financial_account, and for the entirety of your fintech program, credits and debits will always equal each other.
Ledger Isolation
Each program's ledgering remains isolated from other ledgers. We validate that Ledger Transactions can only be written against other financial_account's in the same program's ledger. We also validate that ledgering remains isolated to the respective sponsor bank or financial entity.
Daily Reconciliation
When working with a sponsor bank, we reconcile and close the books every single day.
Immutability
Transactions and Events cannot be removed from Lithic's ledger, once posted.
Idempotency
Idempotency keys are supported on all POST requests to prevent the creation of duplicate objects.
Atomicity
When you create a Transaction, its Entries will either all succeed or all fail to be written.
Read Committed Isolation
Reads won’t block and aren’t blocked by writes.
Strict Balance Checking
In writing events which affect balances, strict consistent checks are performed to ensure the same balance cannot be applied twice.
Updated about 3 hours ago