Banking infrastructure.
Accounts, balances, statements and reconciliation, built on one platform so they always agree.
The account model.
An entity is a verified person or business. It holds one or more accounts, and each account has a currency and a purpose: an operating account in pula, a subaccount for the tax you set aside each month, another for a project or a payroll run.
Subaccounts are labelled portions of your money that you can see on their own, so you do not need a spreadsheet to remember what is already spoken for. Virtual accounts add references to incoming money, which lets a payment be matched to the customer or invoice it belongs to.
Every account belongs to one entity, and access to it is granted by role. Admins manage the team and settings, members send and request payments, and viewers can look but not move anything.
How money is recorded.
When money moves, Olympus records it as balanced entries: one takes the amount from somewhere, another puts it somewhere else. Fees are entries too, so what you were charged is never a separate number that has to be explained.
A balance is not stored as a figure that someone updates. It is worked out from the entries on the account. That is the reason a balance and a transaction history cannot drift apart: they are the same information, read two ways.
The same records feed the workspace, the mobile app, your statements and your API responses. A transfer you make, a payment a customer makes to your link and a payout from your software all land in one place.
From customer to recorded transaction.
Customer and entity
A verified person or business, with owners declared for businesses.
Accounts
One or more accounts per entity, by currency and purpose.
Records
Every movement is posted as balanced entries. Balances are calculated from the transaction records.
Bank connectivity
Connections to settlement and banking partners, with sync and expected-payment matching.
Reporting
Statements and exports come from the platform, so they cannot drift from balances.
Reconciliation.
Expected payments carry references. Incoming money is matched against them. What does not match is an exception, and exceptions are the only thing a person reviews.
Reconciliation
| Reference | Expected | Received | Status |
|---|---|---|---|
| INV-1042 | 12,600.00 | 12,600.00 | Matched |
| INV-1043 | 4,800.00 | , | Awaiting |
| INV-1044 | 9,150.00 | 6,000.00 | Partial |
Illustrative interface.
Connecting to banks and partners.
Olympus does not hold every part of the banking chain itself. It connects to settlement and banking partners, and reflects what they report: a payment that has left, a payment that has arrived, one that has failed.
For incoming money, the connection supports syncing transactions and matching them against what you expected to receive. For outgoing money, Olympus waits for the partner’s confirmation before it treats a payment as complete.
Where money settles depends on the country and the route. See payment infrastructure for how a route is chosen, and payment corridors for where you can send today.
Money in more than one currency.
Each account holds one currency. If you trade in pounds as well as pula, you keep a pula account and a pound account side by side and see both from the same home screen, rather than running a bank relationship in every market.
Converting money happens as part of a payment or a transfer. The rate and the fee are shown before you confirm, and Olympus does not offer currency trading, hedging or foreign exchange advice. How exchange rates work explains the detail.
Which currencies you can hold depends on your plan and your region, and the Global Banking page shows what is available now and what is planned.
Accuracy.
Decimal amounts
Money is never floating point. Fees and totals are exact.
Idempotent writes
A repeated request within its window returns the original result instead of recording a second payment.
Row-level security
Database policies isolate one customer’s data from another’s.
Who can move the money.
Access is granted by role, and payments above a threshold you set can need a second person to approve them. One person cannot create and release a large payment on their own.
Changes are written to an audit log, so it is possible to see afterwards who did what and when. For a team with an accountant, a finance lead and a director, that is usually the difference between trusting the numbers and re-checking them.
Keeping the data safe, and for how long.
Data is encrypted in transit and at rest, and database policies isolate one customer’s data from another’s at the data layer, not just in the application on top.
Identification and transaction records are kept for 20 years after an account is closed, as the Financial Intelligence Act, 2022 requires. Personal data is handled under the Botswana Data Protection Act 2024, and for UK and EU customers under UK and EU GDPR. Read the security and legal pages for the specifics.
Banking infrastructure questions
What is the difference between a subaccount and a virtual account?
A subaccount is a portion of your own money that you keep and label separately, such as tax or payroll. A virtual account gives incoming payments a reference so they can be matched to a customer or an invoice.
Why do you say balances cannot disagree with history?
Because a balance is calculated from the entries on the account. There is no separately edited total to fall out of step.
Can I export my records?
Yes. Statements are available per account and month as PDF, and the workspace supports exports for your accountant.
What happens to my records if I close an account?
Where regulation requires, identification and transaction records are kept for 20 years after the relationship ends, as the Financial Intelligence Act, 2022 requires. After that, they are handled as set out in the privacy policy.