KoenigFinance Solution for
Electronic Money Institutions (EMI)
A launchpad for putting your
e-currency in the digital vanguard

KoenigFinance is a multipurpose platform perfectly suited for e-money issuers and covering wide functionality from transaction processing to a website framework containing customer account interface.

Our software set brings improvement to all areas of your company’s activities, allowing to focus on marketing and winning customers:



Your company

A purpose-built fully-functional and compliant payment system.

Your clients

A viable payment method compatible with any website; neat user interfaces.



MASTERING YOUR BUSINESS

Onboarding

The KoenigFinance platform has enhanced customer verification functionality, facilitating a risk-based approach to client onboarding and ensuring that your business is 100% compliant with the KYC principles and AML requirements of local and international financial regulators.

Initial vetting can be done by screening public blacklists to avoid customers who are subject to sanctions or were involved in fraudulent activities. At further steps of the verification process you can assign low-, medium, or high-risk categories to a customer depending on your company’s or regulatory authority’s criteria.

The client profile is carefully thought through and contains forms for politically exposed persons (PEP), extensive financial questionnaires that include data required by FATCA and CRS, company information section for providing details on the structure of shareholders, the beneficial owner, etc.

To speed up the process of client verification, various automated data processing solutions for recognizing document types (and identifying forgeries), text, photographs and other information can be integrated into the platform.

Video Identification

Real-time user identification via online video chat between a financial organization’s manager and a client is there to cut the risks linked to remote verification. This measure is required as mandatory by some financial regulators and is an integral part of the KYC principle — a highly reliable user identification mechanism. A check in the form of video chat with the client may also dispel suspicions a manager might have over the authenticity of the client’s documents.

It is a completely autonomous system that doesn’t require any installation of additional software on the client’s side — logging in to their personal profile on your website using a modern browser will suffice. The video captured during the session is automatically uploaded to the client’s profile.

Compliance Monitoring

To filter out customers who can damage your business, make use of our risk management tools. They have all the necessary parameters for monitoring the clients' financial operations to prevent fraud, money laundering and sanctions violations as well as combat corruption, illicit trading, terrorism financing and tax evasion.

Set up a smart system of alerts to remain KYC-compliant at all times and promptly react to critical financial events and relevant updates in clients’ profiles such as:

  • transactions exceeding the limits or related to high-risk countries;
  • changes in clients’ data (expired documents, modified company information);
  • important security events (password change).

You can also set up dynamic updating of risk categories based on continuous monitoring of client's activity and information retrieved from public databases. In case suspicious or unusual payments are detected, they can be automatically put on hold until further investigation.

Using versatile search criteria, you can find any transaction in the system in no time.

Analytics and Reporting

All your financial activities are carefully archived and can be easily retrieved and presented in the form of case-specific reports:

  • reports on company’s daily/weekly/monthly turnover for internal accounting reconciliation;
  • IFRS-compliant financial statements for tax authorities and external audit;
  • account statements of particular users.

Another strength is the capability for examination of all aspects of your business operations:

  • The Dashboard always displays basic statistics such as an overview of registered customers and the company’s turnover.
  • The Web Analytics section gives insight into your marketing, traffic and conversion data.
  • You can analyze the performance of your managers by generating reports focused on your Customer Service or particular specialists.

Security

You have varied security mechanisms at your disposal to control who, when and for what purposes can access the platform and client data.

  • Two-factor authentication is used to prevent unauthorized access to the tools and database.
  • You can flexibly distribute access rights for managers and departmental groups to restrict employees from dealing with information out of their scope.
  • You can set individual password reset timeframes to enforce managers to change their passwords as frequently as you deem necessary.
  • An additional 2-factor check is performed every time a manager tries to log in to the system from an unusual IP address, making access impossible unless a special PIN is entered.

Vital mechanisms for server log data monitoring are also part of the platform, ensuring PCI DSS compliance and facilitating timely and complex management of your technical environment. Various counters are available to create alarms that will be triggered in case of a critical event (sudden decrease of completed registrations, mass email delivery failure, etc.). Detailed logbooks help to detect, analyze, eliminate, and prevent the problem from reoccurring.

Fees and Limits

KoenigFinance’s toolbox allows for granular pricing policy adjustment and imposition of money flow limits for selected client categories.

  • Tweak pricing, following changes in the market and your internal financial policy.
  • Activate daily and monthly limits on transactions for individual users and groups of clients with a certain risk level.

You can create group or personal tariffs, dynamically matching the fees to user categories or particular clients. For maximum flexibility, parameters for transaction fees (deposits, payments, etc.) and product charges (payment cards etc.) are managed independently. So are tariffs for wire transfers: they include fee templates for SWIFT and SEPA payments, charge types (BEN/SHA/OUR), and other banking-specific settings.

Integrated Customer Support

Integrated in the KoenigFinance financial platform comes a Client Support facility. It is the main touchpoint where all issues are handled and resolved, from verification to setting up the API. A support request (ticket) can be created both by the client seeking to find a solution, and an organization manager seeking to clear something up or draw attention to the necessity of complying with the company's requirements.

Every request regardless of its creation date is assigned a unique tracking ID which allows the inquirer to track its status. Support tickets are sorted by topics for convenience, and verification requests are organized in a queue to ensure timely processing, minimize customer waiting, and avoid delay in responding. The interface makes for smooth interaction between support managers too - through its internal commenting and task allocation system.

Optimize your customer care performance by creating snippets - reply templates for dealing with typical cases. These can be structured and arranged according to your needs and localized for any language.

Thrown in as another plus point is an online chat widget for communicating with the customers in real time. Solving simple or, on the contrary, urgent issues in a prompt manner will certainly benefit the business image of any company.

Paperless Document Management

Depending on the nature of your business operations, up to 100% of processing your clients’ data can be done paperless: our facilities are designed to manage any volume of digital documentation. Users upload all documents required for account verification, authorizing transactions or solving any other issues into their profile where they become accessible to support managers, thus avoiding the need for submitting physical copies.

The electronic document storage is perfectly in line with the GDPR principles and allows you to easily make the data available to its owner, transfer it to another system, delete it, etc. It also helps you meet the regulatory requirement of keeping clients’ records for the necessary period of time and simplifies audit processes.

Marketing Tools

KoenigFinance contains integrated tools for promoting your services in the market, galvanizing current and attracting new customers.

  • Design a streamlined system of trigger emails with individual client approach for successfully selling your products and services.
  • Launch a referral program to stimulate and increase both corporate and private client loyalty.
  • Boost the effectiveness of any promotional campaign by activating all available user notification options — from push notifications to email newsletters.

Content Management System (CMS)

The KoenigFinance software environment includes a content management system that enables you to take care of the content across all your service channels: website pages, news, emails, SMS, etc.

The CMS empowers you to effortlessly modify and localize your pages, adapting the website for regional audiences and creating multiple language versions.

It also allows for tracking modifications to content items, rolling back to any previous version, and seeing who made what changes.

The CMS has various counters and statistic tools that will prove very handy when calculating salaries for your freelance translators: you'll be able to get a total amount of words translated by a person in a certain period of time in a couple of clicks.

Thin Clients

KoenigFinance’s software is deployed on servers to which your managers connect via a browser. This simplified architecture entails a myriad of benefits:

  • Higher system security. Accidental malware infestation and other system failures are out of the question.
  • Easy management: the system is centralized through and through, and, if something goes wrong, a specialist will just have to join a manager’s session to get everything fixed.
  • Minimal investment required to organize a worker’s workplace.
MASTERING YOUR CLIENTS

Multiple Currencies and Sub-Accounts

Leaving the clients freedom in their financial ways is the driving principle behind our strategy: the KoenigFinance platform allows both corporate and personal users to create as many sub-accounts as they need, each of them supporting all the currencies you make available for them.

Merchants will be the first to appreciate this as it lets them compartmentalize their earnings and divide cash flows by company branch, business division, region, etc.

The same sophisticated settings system is implemented for sub-accounts as for any other unit of the KoenigFinance architecture. Merchants have full control over their preferences for accepting payments, from defining who pays the fee to blocking off certain transfer types or customer categories.

Instant Payments

Since there is no middleman institution involved in processing of transactions in the KoenigFinance system, all transfers are finalized in an instant. This guarantees merchants rapid payments and gratified customers. The same works for personal transfers between users: the money gets credited to the recipient’s account once it’s been sent.

Transferring money to users within the system is made as plain and flexible as can be. Any one of the identifiers is sufficient to find the recipient in the database and send the payment: name, email, or phone number. It is even possible to send a transfer to an unregistered user - they’ll receive the money as soon as they create an account.

Customizable Checkout Pages

KoenigFinance has everything in place for a checkout experience that will satisfy both merchants using your currency and their buyers.

Your payment method can be seamlessly integrated into any online store, service website or payment gateway, graphically and code-wise, ensuring a smooth transaction flow aligned with the seller’s overall branding strategy.

Merchants can diversify their payment models in many ways and offer subscriptions and installment plans as well as accept donations along with the usual one-time billing. The whole pricing structure is fully customizable through a plethora of parameters: from setting the size of an advance payment to determining if the buyer must pay the fee.

Payouts

Payouts is a feature enabling instant transfers to any number of recipients - within your system or to accounts with third-party payment services. Mass payments can be sent independently from any wallet and in any supported currency.

Payouts is a versatile tool applicable for multiple tasks:

  • paying staff employees and freelancers,
  • scheduling commission disbursements to affiliates in any referral program,
  • sending out bonuses in incentive programs, distributing prizes in competitions and other entertainment projects,
  • paying hosting providers, suppliers, and any other recipients - centralized and in an automated fashion.

Subscriptions

Subscriptions is an indispensable feature for merchants selling non-tangible products such as content or online services. KoenigFinance provides a powerful unit for managing subscriptions and recurring payments in a simple and clear-cut interface.

Billing periods can be fine-tuned with settings available to determine how many times a payment re-occurs, at what intervals and for what price. The range of payment methods for each subscription is up to the seller to decide upon.

Subscriptions can include trials, free or paid. In this case billing details are collected at the sign-up stage, and the customer is charged automatically when the trial is over. You can vary prices over different subscription periods as well as set up sign-up fees.

All subscription-related events are communicated to customers through email messaging. This encompasses not only receipts but renewal notifications and reminders, cancellation reports, etc. which is vital for making subscribers feel informed and taken care of.

Website

The platform contains an in-built framework for designing your website and presenting your services to clients the way you see fit.

  • Ensure your website’s customer dialogs are integrated with the system’s core processes.
  • Make your customer dialogs uniform across various channels.
  • Create compelling user interfaces for all devices.
  • Add custom sections and update the website structure in real time from the CMS.

For a full-fledged customer experience the website includes User Account area, and Client Support functionality can be added to the site's structure as well.

User Account

The User Account is your client’s personal online office from which they can conduct their business activities:

  • control all balances;
  • make transfers between accounts;
  • perform financial operations in a couple of clicks (pay a bill, top up the account, etc.);
  • convert currencies within accounts;
  • manage subscriptions and pre-approved payments (direct debiting);
  • view transaction history, search for particular transactions and export account statements;
  • create templates for frequently recurring transactions;
  • link bank details;
  • apply for plastic cards and other products;
  • manage profile and security settings;
  • track verification status;
  • submit tickets to the support service and view ticket history;
  • generate reports, analyse expenses, and much more.

Client Notifications

The KoenigFinance software comes with a complete set of tools for informing clients about their accounts and funds. Notifications are available for virtually all communication channels:

  • email newsletter;
  • SMS notifications;
  • notifications via messenger apps (Skype, Telegram, Viber, etc.);
  • push notifications for mobile app users.

Notifications are indispensable when it comes to informing clients about any events that are described in your guidelines or company policy or are important from the marketing standpoint:

  • completed transactions and other operations on the account;
  • changes in terms of service and other legal documents;
  • scheduled system maintenance;
  • promos, special offers, and other marketing campaigns.

As part of the website infrastructure, notifications are managed through the CMS and can also be localized for any language.

SDK for Mobile App

Along with the website framework KoenigFinance provides an SDK for developing a native mobile app. This is a set of API functions using which your customers will be able to perform any tasks that you make available through the app:

  • check account balance,
  • send and accept payments or payouts,
  • convert currencies,
  • communicate with the customer support,
  • receive push notifications and much more.

The SDK is a solid toolkit for creating an app that will work equally well on any mobile OS and be able to employ biometric identification mechanisms of the related platform to ensure access protection: fingerprint, face, voice recognition, etc.

API and Documentation

The KoenigFinance API allows for easy integration of your payment solution into merchants' websites, automating generation of payment links and other processes - from customer registration to billing. This minimizes errors that inevitably occur when managing transactions manually.

Another useful service is IPN - Instant Payment Notifications that are sent to the payment provider or merchant when certain API functions are executed. Being instantly informed about any transaction events, you can trigger relevant responses. These can range from emailing invoices to generating coupon codes or issuing refunds.

You decide which APIs you expose and to what extent. API keys are used to control access to closed interfaces. Limits, available functions, and other parameters are set individually for each key.

All API functions are abundantly described in our technical documentation, backed with hands-on code examples and variable references.

Reliable Account Protection

As we developed our software components, much attention was paid to ensuring the safety of clients’ funds.

  • In accordance with the Payment Services Directive (PSD2), the platform employs Strong Customer Authentication for processing operations on the account performed online.
  • Two-factor authentication is also used to protect accounts from unauthorized access — a PIN code is generated and sent to the user’s phone, email, or messenger app.
  • Higher level of account security can be set by activating extra options, such as secret questions during password reset and narrowing of the allowed IP addresses pool.
  • In case a user experiences problems with logging in, they can recover access to the account without having to contact support managers. A PIN for access recovery can be sent to phone, email, or messenger - suitable options can be selected in the account security settings.
  • Whenever there’s an attempt to log in to an account from an unusual IP address (location), an additional PIN-based client identification mechanism kicks in.

Accelerate Your IT Development

Cross-Platform Solution

Based on Microsoft technologies and Windows-run, KoenigFinance can be accessed from thin clients by managers in different company branches and geographical locations.

Highly Scalable Product

KoenigFinance is a robust platform built with an eye toward your future growth. Сustomer numbers grow exponentially - processing remains easy as ever.

Multilingual Interfaces

The platform incorporates a full set of localization tools for adapting all user areas to audiences in different parts of the world and arranging translation of all interfaces from checkout to personal accounts and emails.

An Open Code Project

KoenigFinance is delivered in source code which gives a clear picture of the platform’s architecture and allows for free code audit, revision, configuration management and versioning.

A Smart Marketing Tool

Our feature-packed messaging tool is a great medium for merchants to inform customers about promo campaigns, send behavior-based triggered mailings and much more. You can also build your affiliate program to increase loyalty and expand customer base.

Content Management

Platform offers integrated web site content management, including pages, news, support knowledge base and messages with personalization/targeting services.

Want to learn more?

We are always happy to answer any of your questions regarding the features and capabilities of the KoenigFinance platform as well as provide real-time demonstration of our products.

Send us a message

Complete the following form to send your message. KoenigTech specialists will reply to you shortly.

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