CEDRS
Module
The easy way to achieve 'Central Electronic Data Retrieval System' compliance
Fully managed technical gateway for Luxembourg banks to share IBAN account & safe-deposit box holder data with the regulator (CSSF Circular 20/747)
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About CEDRS
Finologee’s CEDRS module has been designed to help banks achieve full compliance with the CSSF Circular 20/747 in relation to the Law of 25 March 2020 establishing a central electronic data retrieval system related to IBAN accounts and safe-deposit boxes held by credit institutions in Luxembourg.
It can be customised to meet every client’s specific setup and requirements. We work on providing each bank with a dedicated solution to facilitate data transmission to the regulator.
Core features
Custom implementation with bank's end-point and file formats
Easy data aggregation on bank's side
Flexible integration (SFTP, existing PSD2 API, proprietary API)
Premium SLA levels available
End-to-end testing service & compliance with CSSF
No data storage
Assistance and project management
High-end security
How Finologee CEDRS works
The components
01 Enrollment management
The Bank can rely on Finologee to manage the enrolment process towards the CSSF (key management, file transfer).
02 Day-to-day operations
The solution manages the interactions with the Regulator on a daily basis, from the file formatting and transfer to the error handling.
03 CSSF connector
The API gateway is implemented as required by the Regulator and serves as the TLS endpoint for the connection with the CSSF.
04 Custom connector
In order to transfer the information on Accounts, the Bank can choose to use PSD2 API, a SFTP protocol or any custom API.
05 Data aggregation
Finologee’s CEDRS Module can retrieve data from different locations in case of the information required are not store within a single Bank’s system. Besides Finologee can also provide a digital add-on solution for paper-based customer data (KYC Manager)
06 Option: Manage customer data
If you need a customer lifecycle management solution for KYC and CDD (Customer Due Diligence) purposes, the integration of “KYC Manager” product would be the right solution.
Value proposition
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Do you want to know what we could build together?
Or get a product demo? Get in touch and we will evaluate how we may help you.