Become a Bank Partner
It’s simple: Connectivity with FinLync adds and improves your connections to your most valued clients.
We’ve Built the Links for You
FinLync technology has changed the connectivity game for corporate treasurers and their banks. In a world that demands immediacy, FinLync leapfrogs legacy bank connections—SWIFT, host-to-host, batch file transfers—to directly embed account data, via your bank APIs, into any clients’ ERP platform, providing real-time visibility into account data and cash positions. No delays, no IT headaches, no risk. That’s why finance leaders in treasury, cash and FX are saying “Yes” to FinLync. When they do, will they find your bank?
Benefits to Your Bank
The digital revolution is disrupting the conventional wisdom of treasury and banking. Today’s treasurers are under pressure to do more with fewer resources, and they are turning to leading technologies to provide greater speed, automation and security. And they expect their banks to do the same. With FinLync, banks win as well. Becoming a FinLync partner means:
- More revenue opportunities. More clients, more accounts, more revenue. It’s a simple formula that FinLync facilitates by offering partners easier ways to connect to clients.
- Lower costs. Becoming a FinLync partner is free. But the value continues: FinLync applications reduce both the costs and time spent onboarding new accounts.
- Greater differentiation. Achieve distinction. Opening an avenue to real-time treasury, fast, gives you an immediate advantage over banks limited to legacy connectivity.
- Offload IT burdens. FinLync does the heavy lifting, harmonizing your bank data for easy integration with the client’s ERP.
- Improve client satisfaction. The sophisticated clients you want are attracted to sophisticated services. A FinLync partnership elevates your value, enabling the automated, real-time functionality contemporary treasurers want.
- Increase your technology ROI. Have you already built APIs? That’s a good start—but remember, the connection cannot be complete until each client has the ability to accommodate your API with the end solution, an expensive process that can take months or years for a single API. FinLync eliminates this delay and expense, making your API immediately available—without new IT investment—for your clients.
Get Connected
It’s our job to build connections. FinLync will meet you where you are: If you have APIs, we increase the value of your investment. If you’re applying legacy technology (host-to-host), we have apps to improve that connectivity as well. Either way, FinLync increases your value to clients. Take the first step toward becoming a FinLync bank partner by contacting us for a conversation—it’s the first connection that can lead to more and better client connections for you.
FAQ for Bank Partners
Our list of bank partners is continually expanding based on our ever-growing client list and the banks they do business with. Visit our Bank API Catalog to see which financial institutions have selected FinLync to partner with for bank API aggregation. The Bank API Catalog is updated quarterly.
The biggest benefit of FinLync for banks is time to market. With FinLync, your clients are up & running on your bank’s APIs faster. Your financial institution has spent a great deal of money and time building APIs, yet they are not easy for your corporate clients to connect to. FinLync changes that. Once your APIs are initially integrated into FinLync, all future connections become plug-and-play.
After speaking with a FinLync bank partnership representative and signing your agreement along with any necessary non-disclosure agreements, you provide your API documentation to the FinLync team. Our team works with you to build the connections, test and then finally go live.
According to treasury and finance experts like The Hackett Group and Strategic Treasurer, bank APIs are the cornerstone of modern treasury, and they are quickly rendering legacy bank connections like host-to-host and SWIFT obsolete. The demand for real-time data has been a reality in the consumer finance world for years, and the corporate finance world is quickly catching up.
As corporates transition to bank API connectivity, financial institutions that offer bank APIs gain a competitive advantage. Banks that are early-to-market with APIs have the chance to continually improve upon their offerings, earning top ratings overall, and perhaps “owning” a particular category of API because they’re leading the market. For example, a bank that offers the best quality payment initiation and payment status APIs will likely earn new business from companies who want to run their payments through the best payment APIs.
First, consider which category/categories of APIs will benefit your clients the most.
Next, survey the competitive landscape. Are there bank API categories that are crowded by everyone else? Could you build an API that meets or beats those offerings? What about categories where there are little to no APIs currently available – is that an area to invest so you can corner the market? Next, design your data structure and flow. From basic requirements like historical balances to which messaging standards to use – these are crucial early-stage decisions that will impact the success of your bank APIs.
Finally, build for performance and security. Review and document your plans for data security including sensitive payloads like payments, entitlements required for authorization, and test with sufficient data and scenarios in your sandbox and UAT.
For more tips on building bank APIs, visit our blog post 3 Must-Read Tips before Building Bank APIs.
