Maximum confidence payment traceability
Never ask “where’s the wire?” again. Track payments in real-time all the way to the beneficiary
FinLync delivers total payment traceability
Bank data on demand
Reduce manual labor and improve decision-making with real-time bank data for cash management, payments, reconciliation, forecasting and more.
Fastest method, automatically
Ensure beneficiaries get paid as fast as possible. FinLync automatically assesses the payer and payee bank country, currencies and payment amount and routes it via the fastest payment method.
Initiate payments in real-time
Faster than a wire, inexpensive like an ACH, instant real-time payments are the best of both worlds, bringing a new level of not only faster reconciliation, but also traceable throughout every step of the payment process with confirmation within minutes from receiving bank, leading to better, more accurate cash flow management.
Easily identify the best bank for your payment
FinLync exposes the exact time of payment completion and any payment fees at each step along the way. Automatic notifications are delivered to desktop, tablet and mobile (with reasons why) should a payment fail to process.
Benefits by Role
CFO & Treasurer
Total certainty for critical one-off payments, especially M&A payments and other strategic activities
Treasury and AP Team
Significant reduction of missing or failed payments
Eliminates the need to code in new payment types, reduces vulnerability to fraud
Maximum-confidence payment traceability is available with
More About Critical Treasury Payments
Confirmation of critical payments cannot wait. Sensitive merger and acquisition agreements require timely confirmation of payments; one-off payments (for debts, bonds, interest) must be confirmed quickly to ensure compliance with business practices and regulations. As soon as the corporation puts a layer in between its process and the banks, they are opening the door to security risk and lack real time connectivity. Treasurers need instant confirmation of payments on their schedule, not based on the bank’s time.
Executing treasury and accounts payable-related payments through bank portals, or by sending files using third-party systems, creates additional security risks for corporations. Payment files with sensitive data must travel through different networks before making it to the bank. This legacy connectivity technology engages payments in too many layers where payments can easily fail or get delayed. Bank portals seem convenient, but they require separate log-ins, allow payment submissions without controls and lack a centralized audit trail required for SOX compliance. The goal is to reduce this type of risk by reducing the number of times that treasury and accounting teams have to access these methods.
FinLync enables corporate treasurers and finance professionals to have greater control, visibility over their data by offering real-time offerings embedded in their ERPs and leveraging APIs. Treasurers get end-to-end, instant payment visibility and immediate confirmation of payment status.
With FinLync’s technology, corporations are connecting directly to their banks using an API secure connection. Corporations are not connecting to a third party and then that third party connecting to its banks. Data is not flowing through FinLync or through anyone else. Treasurers now have enough confidence that payments are initiated faster and get instant feedback and status. They are also relying less on physical security tokens across banks.
APIs are today’s most secure form of technical communication between two parties. They leverage the latest and greatest in technology and enterprise security standards. The security is built into the channel and the data – since they’re one in the same – and includes multiple types of security like certificate exchange, user credentials and data encryption. With bank APIs there really are no files, so there’s no way to intercept or compromise the data.