Device, system, method and computer program product for processing electronic transaction requests

A method for processing electronic transaction request messages from financial institutions, each transaction request message instructing payment of funds from one financial account in a first financial institution to another financial account in a second financial institution, the method comprising:

• receiving, at one of a plurality of switches located at a location, a transaction request message from the first financial institution;
• recording, by the one of a plurality of switches in each of a plurality of synchronized storage units of a clustered database connected to the plurality of switches, an identical copy of a transaction state of a transaction associated with the transaction request message, the recorded transaction state indicating if the transaction is pending and including a count of a number of completed transaction messages for the transaction;
• and
• generating, within the clustered database, in response to an update of the transaction state in each of the plurality of synchronized storage units of the clustered database indicating that the transaction is completed, a transaction summary record based on the received transaction request message that allows settlement of the funds between the financial accounts defined by the received transaction request message.

A computer program product comprising a non-transitory computer-readable storage medium configured to store a computer program therein or thereon, the computer program containing computer-readable instructions for processing a transaction request message from a financial institution, which when executed by at least one computer, cause the at least one computer to:

• receive a transaction request message from a first financial institution instructing payment of funds from a financial account in the first financial institution to another financial account in a second financial institution;
• record, in each of a plurality of synchronized storage units of a clustered database, an identical copy of a transaction state of a transaction associated with the transaction request message, wherein the transaction state indicates if the transaction is pending and includes a number of completed transaction messages for the transaction;
• generate a transaction information message in response to the transaction request message and transmit the transaction information message to the second financial institution, thereby informing the second financial institution of the transaction;
• update, in each of the plurality of synchronized storage units of the clustered database, the transaction state of the transaction associated with said transaction request message;
• determine that the transaction associated with the transaction request message is complete, based on the number of completed transaction messages for the transaction satisfying a threshold number;
• and
• in response to the determination that the transaction is complete:
• move the transaction state of the transaction from a first table, in each of the plurality of synchronized storage units of the clustered database, to a second table thereby indicating in the clustered database that the transaction is complete;
• and
• generate a transaction summary record based on the received transaction request message that allows settlement of funds between financial accounts defined by the received transaction request message.