Whatis it?

FinologeeENPAY is a software-as-a-service (SaaS) platform designed to enable financial industry professionals, insurance companies and the asset servicing industry, as well as corporates and institutions, high-volume bill issuers and public sector entities to manage their payment and reporting processes in a more efficient and safer way.

Through this single-entry product, clients can streamline their payment processes by automating payment order messaging, transaction validation and reporting. ENPAY relies on a direct connection to the SWIFT financial messaging network. Thanks to SWIFT’s global reach, most bank accounts can be connected to the platform with no additional technical impact.

User authentication, workflows and transaction signatures are fully carried out through ENPAY, either through secure and easy-to-use web interfaces (for manual entry or batch upload) or ENPAY’s API endpoints (for system interconnection), without the need for additional authentication/signatures using the banks’ mechanisms. The product encompasses adaptable role-based access and display management, an advanced workflow and notification system and compliant audit/reporting features.

What arethe features?
1
Professional credit transfer management

2
Multi-accounts & multi-banks

3
Global banks reach (direct SWIFT connection)

4
Ergonomic web interface

5
Manual input & batch upload

6
Secure API endpoint

7
Data visualisation & charts

8
Counterparty management

9
Multi-step authorisation workflows

10
Email & SMS notification system

11
Multi-level user & rights management

12
Full audit trail

13
Custom reports & statements

14
Multi-factor authentication/signature

15
High performance SaaS hosting

16
Financial industry regulation-compliant

17
Multi-currency

18
Optional customisation & integration

19
24/7 operations with SLA & support

20
Blocked accounts blacklist

How does itwork?
What arethe components?

01

Web application

Responsive frontend interface that allows users to perform any action intuitively, with data entry or upload, transaction details, workflow & monitoring and dashboard feature.

02

API Gateway

Neat integration with client’s own infrastructure and software tools through a state-of-the-art API portal that allows for end-to-end/straight through payments process automation without the need for human validation at connectivity level.

03

SWIFT connectivity

It is directly connected to the SWIFT network – the world’s primary financial messaging network – and enables clients to access their bank accounts through the most secure and reliable bank connectivity channel. Bank coverage is almost universal (all SWIFT-connected banks).

04

Dashboard

Quick data access and visualisation from the start screen: actions required, recent operations, top counterparties, and other relevant information available at a glance, on the start screen.

05

Role-based access control (RBAC)

Features on a user-role matrix defined by each client, with role-based access control (RBAC) linked directly to the product, ensuring the assignment of one or multiple roles to a user.

06

Authentication system

Multi-factor authentication system, either by relying on the authentication stack of our technical platform (using Luxtrust) or by leveraging the client’s own user authentication system for rights management.

07

Validation workflows

Implementation of complex validation processes depending on payment categories, transaction amounts and ordering accounts, with notification and reminder system that can be tailored to each client’s specific requirements, processes, and account signature rights.

08

Signature stack

State-of-the-art end-to-end transaction signature process with third-party validity confirmation, with Luxtrust’s Public Key Infrastructure (PKI) integration.

09

Audit log & reports

Provides secure and immutable records of events including when a transaction was performed and by whom it was authorised. Includes custom report and account statements generation feature with filtering and date range choices.

10

Support through customer care portal

Access to our Customer Care Portal for all clients, including full product documentation, answers to frequently asked questions (FAQs) and a ZenDesk ticketing/tracking system.

11

Trusted Platform hosting

Developed and operated by Finologee (Luxembourg Support PFS) on its Trusted Platform, in a fully redundant and financial-industry compliant setup that serves more than 100 banks, insurance companies, finance professionals and institutional clients on the various platforms and products that Finologee provides, with EBRC– Luxembourg’s largest data centre and managed services provider.

Screens &interfaces
See foryourself
Valueproposition
Increased data entry accuracy

ENPAY makes it easier to set up payments through its user-friendly interface while reducing the risk of manual errors and increasing safety with its built-in validation mechanisms.

End-to-end automation

Thanks to its flexible technical design and modern architecture, FinologeeENPAY caters for end-to-end automation scenarios by connecting client systems through its secure API endpoints. This enables clients to submit transactions directly to their banks over the SWIFT network without the need for additional (human) validation at bank level or using the bank’s own security credentials.

Reach

FinologeeENPAY’s bank network connectivity is provided using Finologee’s own SWIFT connection stack. Finologee routes messaging using its own BIC but can also the client’s BIC. National and international coverage is virtually universal, with most banks being connected through the SWIFT network and thus being able to receive payment instruction messages and providing reports. Connection of bank accounts is a straightforward and standard process with banks and does not have a technical impact on the client’s side.

Flexibility

When defining the scope and the setup of an ENPAY implementation project, Finologee works closely with its client to define user roles and permissions that accurately reflect the client’s organisation and configure authorisation workflows according to internal procedures. Custom reports can also be implemented to meet specific business requirements.

Performance

ENPAY instances and implementations can be deployed and scaled very flexibly on Finologee’s Trusted Platform and web interfaces are optimised for the most relevant desktop and mobile devices, so end-users can enjoy the best experience when using the product.

Luxembourg regulation compliance

Finologee operates the ENPAY platform as a Luxembourg Support PFS, holding a financial industry IT provider licence by the Ministry of Finance. This status requires Finologee to abide by the same regulation that applies to banks and other financial industry professionals, making outsourcing to Finologee by regulated professionals more straightforward. For non-regulated players, the Support PFS licence provides additional guarantees with regards to risk management, professional secrecy, IT security requirements, audit, and compliance requirements, among others. Finologee also is ISO 27001:2013 certified.

Security

The ENPAY system is hosted on Finologee’s Trusted Platform environment, providing state-of-the-art security and resilience guarantees fully meeting the financial industry’s requirements. The security architecture of the product has been developed according to highest market standards, with third-party transaction signature relying on industry-leading partners and thoroughly segmented production environment.

Hosting

The platform and the products hosted on it are subject to both financial industry and ISO 27001-compliant audit processes, and full-scale penetration tests are carried out on a regular basis. Hosting is done at EBRC’s facilities, with Luxembourg’s leading data centre provider, in a redundant setup at EBRC’s Tier IV-level premises.

Partners &Connectivity
Banks connectivity provider
Authentication & Transaction e-Signature
Banks we cover

(June 2021)

Supported by

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.