Say goodbye to legacy
treasury technology

Common questions about FinLync

• What products does FinLync offer?

  FinLync’s core product, BankLync, is the Corporate Banking API Aggregator that powers global multi-bank connectivity through one standardized connection.  BankLync exists as the most comprehensive and premium API multi-bank aggregator available on the market today.  BankLync is designed for global corporates or platform providers who want to simplify bank connectivity and advance to on-demand bank data through existing ERP, TMS, data lake and business reporting systems. BankLync pipes real-time data for accounts, payments, transactions and so much more, for all your organization’s global banks safely and securely. No need to worry about maintaining each individual bank API authentication, data formats or connection requirements, FinLync takes care of that for you.

  FinLync also provides a suite of specialized apps for corporate treasury and finance that embed inside your existing systems, much like an app embeds into your smartphone. FinLync’s treasury app suite certified for SAP includes a variety of native tools like Balances, Reconciliation, Payments, Cash Forecasting and more. The entire suite is already pre-integrated and powered by FinLync’s premium multi-bank API aggregator, BankLync, so your bank data is delivered in real-time.

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• Who uses FinLync?

  FinLync is used by forward-thinking corporate treasury teams around the world, from Fortune 2000 organizations to medium enterprises looking to replace their spreadsheet-based treasury processes.

  Organizations that are undergoing digital transformation projects, a change in leadership at the Treasurer, Assistant Treasurer or CFO level, moving their ERP to the cloud – especially SAP S/4HANA upgrades – or companies undergoing rapid growth are well positioned to advance to real-time treasury with FinLync.

  FinLync is also used by software platforms and networks that need access to corporate bank data. Our multi-bank, global API connectivity provides plug-and-play access and eliminates any bank connectivity maintenance headaches.

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• Why does FinLync use bank API connectivity?

  Experts like Strategic Treasurer and The Hackett Group agree that legacy connectivity channels like host-to-host are quickly becoming obsolete and will be replaced by bank API connectivity. Consumer finance has been leveraging bank APIs for years thanks to consumer bank API aggregators like Plaid and MX. Corporate finance bank APIs are significantly more complex than consumer bank APIs so corporations who wish to advance to real-time bank data are turning to FinLync to deliver plug-and-play bank API connectivity, enabling companies to further optimize liquidity management.

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• What financial institutions does FinLync connect to / integrate with?

  FinLync can connect to any bank’s APIs. We connect to global, multinational banks like JPMorgan, Citibank, DBS, OCBC, Deutsche Bank and HSBC, as well as boutique and regional banks like PNC and RBI. This includes various different types of bank APIs used by treasury teams and corporations, including balances API, transaction API, payment API including payment initiation and payment status APIs.

  Visit our continually-expanding bank API catalog to find out the specific types of treasury bank APIs we integrate with, and view a clear status on the integration stage we are in with each bank, and each type of API. The bank API catalog is updated quarterly.

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• Does FinLync use open banking APIs?

  FinLync connects to open banking APIs. However, since our clients include some of the largest companies in the world, our focus is serving the needs of large, multinational organizations. For this reason, we go beyond the more basic, consumer-focused open banking APIs and our products connect to banks’ corporate premium APIs. Premium corporate bank APIs include all of the features and functionality of open banking APIs, but they go further to fulfill the unique needs of corporations. Corporate premium bank APIs include connectivity across many financial institutions and across multiple accounts, a wider scope of payment types, and additional capabilities for account management, doing business with virtual accounts, and cash pooling structures.

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• What sets FinLync apart from other bank API connectivity providers?

  FinLync stands alone as the authority on global bank APIs for treasury and finance. As the market leader, we differentiate on the following points:

  1. Truly global capabilities. Unlike any other bank API connectivity providers, our bank API connections span the globe. Other options are often limited by geography, permitting bank API connectivity only within a single country. For companies doing business in, sending payments to/from across borders or working with global teams, this may be a major limiting factor.
  2. Going beyond open banking APIs. The contrast between “basic” and “beyond” is a useful way to think about Open Banking APIs versus Corporate Premium APIs. Open banking API features are simpler, typically oriented around consumer needs for information on transactions or loans; whereas premium corporate bank APIs offer everything that open banking ones do but go further by meeting special requirements of corporate entities like connectivity with multiple banks (and even account management), greater range in payment types available through these connections etc.
  3. Enterprise-level support. Our global client support and delivery teams fulfill the level of service needed and expected in today’s business world.

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• How can treasury teams benefit from advancing to bank API connectivity?

  Payments: A new level of payment tracking is now possible with FinLync. Initiated, tracked and confirmed instantly from approval to receipt like a package tracker.

  Cash Visibility: With FinLync, now you can refresh all your bank data in a single click. With the ability to instantly access historical and future transactions from multiple banks at once it’s never been easier than this before. On-demand bank data is now available.

  Financial Close Process and Reconciliation: If your financial close process has ever been held up by slow reconciliation, it’s time to advance to Instant Reconciliation. Don’t leave your transactions sitting in the bank! With FinLync, we can speed up this tedious task so that everything happens immediately, as soon as a transaction hits your bank account.

  Complicated Connectivity: FinLync simplifies the complexities of bank connectivity by connecting to multiple banks with a single endpoint.

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