Multi-Bank API Connectivity

Replace laborious bank portal or host-to-host connectivity with streamlined API connectivity to all your banks and accounts.  

Problem

Making do with legacy connectivity channels. Bank API connectivity provides superior security and enriched, real-time data while eliminating the need for bank files and middleware. But each bank has its own API design; connecting to multiple banks—with different formats, protocols and languages—has historically been a time-consuming process that requires expensive IT resources.

 

Solution

FinLync has done all the hard work for you. Our multi-bank API aggregator harmonizes data across all bank APIs, turning a previously complex connectivity challenge into a simple plug-and-play process. You get rid of bank files and middleware but get all the connections you need, plus real-time data and expanded data points, without having to manage the connectivity.

 

  • CFO

    Access up-to-the moment available cash balances, instant status of critical treasury payments; reduced risk of fraud

  • Treasurer

    Total confidence in critical treasury payments; view up-to-the-minute bank data from all bank partners in a central location

  • Assistant Treasurer

    More-accurate information, which enables more precise and timely actions

  • Treasury Team

    Faster, easier issue resolution; eliminates data management tasks of bank files

  • IT

    Leverage existing security infrastructure; simplified access maintenance; utilizes existing ERP permissions and authorizations without redundancy

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Process Comparison: Collecting Bank Balances for Cash Position

Without FinLync

With FinLync

  • Without FinLync Step 1

    Each bank generates files at times according to the bank's schedule, not yours

    With FinLync Step 1

    FinLync automatically retrieves up-to-the-minute balances and transactions across all banks

  • Without FinLync Step 2

    Middleware receives file and passes it to the corporate network

  • Without FinLync Step 3

    Scheduled job consumes file and updates position for each bank

Ready to See FinLync in Action?

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Common Questions About Multi-Bank API Connectivity

  • Host-to-host bank connections and individual bank portals do not directly embed your account data in your ERP as bank API connectivity does. What you sacrifice is either the ability to have real time information using bank portals or the ability to have a consolidated view of your global organizational cash. Legacy connectivity is vulnerable to fraud, and bank portals are not SOX compliant. Finally, legacy connections are expensive to establish and maintain.  

  • You want less work, more precision, and that requires bank API connectivity across all your banks and accounts. A single bank API gives you one type of data from one bank; a true multi-bank API solution harmonizes all bank data types and gives you comprehensive visibility from all banks in one centralized place. 

  • In addition to losing the advantages of centralized, real-time account data, you position your treasury behind your competitors: Your outdated technology discourages interest from the top talent you want to attract. From a decision-making perspective, you are using less accurate information and thus making less precise decisions, thus causing your performance as an organization to be comparatively lower than that of your peers.