It would be really helpful if anyone can help me in identifying the approach for below scenario. Thanks in advance.
Customer can open a brokerage account with XYZ financial institute. Customer can deposit money from his bank account to his brokerage account with XYZ. XYZ has a contract with ABC bank for transferring fund from customer bank account to customer brokerage account. When customer inputs his bank account number, amount to transfer, his brokerage account number and initiate fund transfer, XYZ contacts ABC for processing this fund transfer.
How this integration can be done? Do I need to use any payment gateway or can XYZ communicate with ABC via web-service call? Generally payment gateway is used for POS, debit-credit card payment. Does transfer using bank account number, routing number happens through payment gateway or a web service of ABC can be called from XYZ?