KoenigFinance solutions for
financial institutions
A universal tool for
automating business processes

Instant payment processing, money transfers, scheduled payouts, invoice generation, reporting and statistics — all that is necessary for successful functioning of a financial company is incorporated in the KoenigFinance platform.

The solution was designed for non-bank financial institutions (NBFI), microfinance organizations (MO), money transfer systems, and other financial institutions.

With KoenigFinance, you’ll have convenient mechanisms for managing your business as well as handy tools for communicating with clients.



What’s in it for business

Workflow automation. Support for all modern financial tools.

What’s in it for clients

Intuitive interface facilitating the use of the services provided by your financial organization.



BENEFITS FOR COMPANIES

Onboarding

KoenigFinance facilitates a risk-based approach to onboarding, ensuring that your business will be compliant with the KYC and AML rules, FATCA and CRS as well as other important standards and regulatory requirements.

Initial due diligence can be done by checking client's data against sanctions lists to avoid legal problems and customers who might be involved in fraudulent activities. At further steps of the verification process you can assign low-, medium, or high-risk categories to a client depending on your company’s or regulatory authority’s criteria.

The platform allows for storing full structured client profiles that contain forms for politically exposed persons (PEP), extensive financial questionnaires, and 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 verification via online video chat between a financial organization’s manager and a client is there to make the client vetting process more rigorous. 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 saved in the client’s profile.

Compliance Monitoring

The KoenigFinance solution is capable of effectively tracking down suspicious client activity with the goal of reducing risks of fraud and enforcing the regulatory requirements on money laundering (AML), fraud, terrorism financing, sanctions violations, corruption, illicit trading, and tax evasion.

The system allows fine-tuning of monitoring rules in accordance with the internal policies of the organization as well as your regulatory authority. Monitoring incorporates a system of notifications about certain events and can be programmed to prompt the client to perform certain actions. For example:

  • when a document expires, a user can receive a notification about the necessity to update their profile data;
  • account access can be blocked after a number of failed login attempts;
  • unusual and suspicious transactions (exceeding the limits or related to high-risk countries) can be automatically suspended until further scrutiny by a competent employee.

With KoenigFinance’s built-in mechanisms, your compliance, AML and financial departments will have a full range of tools enabling them to follow clients’ activity in real time every step of the way: from initial risk assessment upon onboarding to routine transaction monitoring and regular analysis of their personal or corporate profile.

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.

Analytics and Reporting

Analyze all aspects of your company's economic activity in real time, plan out budget, adjust your business strategy with the KoenigFinance reporting tools.

Virtually all user actions are logged in the KoenigFinance system and always available for examination: financial transactions, profile changes, history of orders and communication with the support, etc. Based on this data, you can create financial reports after international standards (IFRS):

  • aggregate balance sheets,
  • account statements,
  • detailed transaction info, etc.

Managers have access to different analytical data according to their positions in the company:

  • customer support staff get to see the number of inquiries, average response time, average service satisfaction, etc.;
  • the CFO can view company's turnover for various periods and related data;
  • the marketing department gets to see the number of registered users, registrations dynamics by country, etc.;
  • the CEO can see all enterprise-wide reports.

Security

We have implemented various security mechanisms for controlling who, when and for what purpose gains access to the platform and user data.

  • To prevent unauthorized access to the heart of the platform and the database, two-factor authentication is put in place.
  • You can flexibly dole out access rights to managers and specialists in different departments in order to restrict their access to information outside their scope.
  • Setup of time intervals for mandatory password change will make sure that the employee login data is safe.
  • Additional 2FA-check is triggered every time a manager tries to log in to the system from a new IP address. In such a case, in order to gain access to the system, the manager has to enter a special PIN code.

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 selected clients 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 customers. 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 Support Service

The platform's Client Support Interface simplifies the searching and processing of user inquiries (tickets), sorting them by subject and grouping by date. In the conversation window the customer support staff can view client’s request and attached documents, communicate with the client in real time (similar to chat), leave internal comments visible only to other specialists as well as assign the support request to a specific manager. A 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.

Pre-prepared and built into the system, templates of replies to frequently asked questions (snippets) significantly reduce the processing time of support tickets, increase general performance of the entire support department and facilitate high-quality, coherent and conclusive responses. Multi-language support can benefit from the translation feature allowing templates to be translated into as many languages as you need. Moreover, the system automatically inserts the snippet in the language in which the question is asked.

Detailed statistics and analytical data about all support requests are gathered in the system and can be used to monitor the speed and the quality of answers to clients’ questions as well as keep tabs on the performance of certain employees.

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)

Beside the financial aspect, the KoenigFinance platform also offers a comprehensive content management system (CMS) that enables you to take care of the content across all your service channels: website pages, news, emails, SMS, etc.

The capabilities and tools you get with our CMS:

  • easy editing and localizing of all kinds of content, creating separate website versions in different languages;
  • a web interface for translators into different languages with versioning, history of changes, rollback of incorrect edits, tracking of projects in progress, etc.;
  • performance metrics that help calculate payments for freelancers by putting together reports that include translations accomplished by each translator in a certain time period.

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.
BENEFITS FOR CLIENTS

Multiple Currencies and Sub-Accounts

KoenigFinance allows working with many currencies and creating unlimited sub-accounts in the same customer account. This freedom makes it possible to sort and separately manage different money flows which is convenient for both private and corporate clients.

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

Customizable Checkout Pages

KoenigFinance provides tools for creating customizable checkout pages with an intuitive interface. Both functionality and design can be easily adapted to your goals and objectives. The financial institution can work with any number of payment methods - traditional and brand new - from cards to cryptocurrencies. According to your compliance policy you decide what payment options to make available depending on the customer’s business category (Forex, retail, entertainment services, etc.). Similarly, corporate clients can set up any combinations of payment options you let them use.

The checkout is seamlessly integrated into any website, and the settings allow for creating crystal clear familiar-looking payment forms, requiring few steps to complete the transaction.

Beside the standard billing models, you can add the options of installment payments and accepting donations. Each type of payment has many adjustable settings: initial payment amount for subscriptions, commission payment parameters, activation of pre-approved payments, etc.

Payouts

KoenigFinance allows for arranging mass payments to an unlimited number of recipients in any supported currencies. Your clients will be able to make payouts from their accounts in your system in any convenient way: to bank accounts or cards, by cash transfer, etc.

This feature is indispensable when it comes to:

  • sending salaries to freelancers;
  • disbursing payments to affiliates;
  • sending payments to suppliers;
  • managing payroll projects;
  • awarding clients with bonuses;
  • arranging payments in entertainment and gambling services.

You can give your clients an opportunity to automate payouts through API, which will facilitate even closer integration of your services into their business processes.

Website

Along with the transaction processing platform comes a configurable website framework, presenting your services to clients in a compelling and effective way:

  • create smart user-friendly interfaces seamlessly connected with the back end;
  • make your customer dialogs uniform across various channels;
  • create beautiful 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:

  • transfer funds between accounts;
  • deposit and withdraw funds with any available methods;
  • view accounts and balances;
  • 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

KoenigFinance comes with a complete set of tools for informing clients about their accounts and funds. Boost your clients’ trust and confidence in the reliability of your service.

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

The KoenigFinance platform comes with an SDK for creating a native mobile app that will allow your customers to conveniently work with their bank account from anywhere in the world on any device. The SDK provides 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 wire transfers,
  • 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 leverage biometric identification mechanisms of the related platform to ensure access protection: fingerprint, face, voice recognition, etc.

API and Documentation

The KoenigFinance API enables you to automate all kinds of system processes - from client registration to money transfers - and minimize errors that inevitably occur when managing transactions manually.

You can also create an IPN (Instant Payment Notifications) script and use it to receive push notifications that will be sent from third-party services to the core system when certain API functions are executed. Being instantly informed about any transaction events, you can trigger relevant responses: emailing transfer receipts, generating authorization codes, issuing refunds, etc.

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.

Easy and clear documentation with code examples in various programming languages will help your IT specialists get comfortable with the system’s functionality in the shortest possible time.

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

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