Bank Connectivity
ENPAY allows clients to connect any of their existing bank accounts onto the platform, trigger credit transfers from these accounts and retrieve reports, statements and balances. ENPAY aims at empowering corporates, asset managers, insurance companies, large bill issuers and other professional users to handle their payment and reporting processes in a more efficient and safer way.
To ease bank integration, ENPAY supports multiple channels as well as multiple formats to handle the payments and the reporting.
“The gateway to all your professional bank accounts.”
Raoul Mulheims, CEO of Finologee
The number of accounts and banks that can be connected to ENPAY is virtually unlimited. Connection of bank accounts is a straightforward and standard process with banks and does not have a technical impact on the banks’ side when relying on existing SWIFT connectivity.
With its connection to the world’s primary financial messaging network, ENPAY enables clients to access their bank accounts through the most secure and reliable bank connectivity channel. Almost all banks are connected to the SWIFT network and can therefore offer the right type of interconnection to make their accounts accessible via ENPAY.
Finologee routes messaging using its own SWIFT Bank Identifier Code (BIC) but can also implement the client’s BIC.
Through its SWIFT network connection, the ENPAY bank account connectivity reach is continuously increasing.
A selection of our connected banks (not exhaustive):
Connectivity to banks is established by jointly signing each bank’s Power of Attorney/SWIFT connectivity agreements and establish the RMA using Finologee’s BIC Code (FNLGLU22) for the account(s) to be connected. This typically is a straightforward process, part of the standard procedures of most credit institutions.
For new banks, Finologee is running a series of tests and validating compatibility and any custom implementation of SWIFT protocols and messages with the bank. Finologee then continuously monitors proper execution and availability, as well as the specificities (cut-off times, error handling …) of each connected bank.
Credit institutions interested in speeding up the connection process by anticipation for their clients may also request to complete this process before connecting the first client account. Please get in touch should you want to evaluate this opportunity.
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.