For what purpose and in which contexts is the ENPAY platform typically used? For which industry segments is it optimised? Why do these players choose to implement the ENPAY platform?
Regulated financial industry professionals
Used by: (Life) insurance companies, investment fund/asset managers, asset servicing companies, banks
Companies seeking payment flow automation
Used by: Tech and payment platforms, BPO/outsourced service providers, utilities, public sector
Institutional & intermediary players
Used by: Investor services, accounting firms, corporate players, public institutions
A holistic overview and a generic access to all your payment accounts with all your banks on a single secure platform. Implementing ENPAY removes the need for manual connection or customised integration of proprietary interfaces. It also reduces error levels, increases efficiency and improves regulatory compliance.
ENPAY makes it easier to set up payments through its user-friendly interfaces, reduces the risk of human error and increases safety through its built-in validation mechanisms. It also streamlines processes and harmonises workflows.
ENPAY 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.
The bank network connectivity is relying on Finologee’s own SWIFT connection stack. Messages are routed through its own BIC but can also use the client’s BIC. National and international coverage is virtually universal, with most banks being connected through the SWIFT network. The connection of bank accounts is a straightforward and standard process at the banks and has no technical impact on the client’s side.
When defining the scope and the setup of an ENPAY implementation project, Finologee works closely with client teams to define user roles and permissions that accurately reflect internal organisation rights and mandates, and to configure authorisation workflows according to internal procedures. Custom reports can also be implemented to meet specific business requirements.
ENPAY platform instances and implementations can be deployed and scaled very flexibly on Finologee’s versatile hosting and operations infrastructure. The web interfaces are optimised for the most relevant desktop and mobile devices, so end-users can enjoy the best experience when using the product.
Finologee holds a ‘Support PFS’ (financial industry IT provider) licence by the Luxembourg 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 straightforward. Non-regulated players also benefit from this setup through additional guarantees for risk management, professional secrecy, IT security, governance and audit obligations.
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. Finologee is also ISO/IEC 27001 certified and subject to a variety of external audits and PEN tests.
The ENPAY platform is hosted on a high-performance and redundant virtualisation environment, with Luxembourg’s leading data centre provider, in a redundant setup at EBRC’s Tier IV-certified premises, spread across different physical locations. ENPAY platform operations and customer care are handled by Finologee’s DevSecOps and Customer Operations teams. Finologee’s customers can choose from several SLA options, providing market-leading availability and reactivity guarantees.
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