KoenigFinance Solution for
Payment Service Providers (PSP)
Making the payment process easy
for PSPs and their customers

In a world where the web is a global marketplace, we provide an ultimate set of solutions for e-commerce businesses to base their payment systems on. We deliver a framework for building a powerful payment gateway, fully customizable for any merchant, large or small. The selection of payment methods you can offer is endless, the transaction processing easily manageable. With KoenigFinance you get a solid groundwork for catering top-notch financial services:



Your company

An entirely automated workflow, cutting-edge financial technologies.

Your clients

Smooth integration into any website, practical user-friendly interfaces.



EMPOWERING BUSINESS

Onboarding

Legal issues are ruled out at the very start thanks to the risk-based approach to customer due diligence. KoenigFinance provides functionality for multi-level customer verification that allows managers to determine merchant’s status according to FATCA and CRS and analyze other information necessary to comply with the latest KYC and AML standards.

Extensive risk assessment tools let you distribute corporate clients across categories of low, medium, and high risk as well as assign transaction limits and apply monitoring measures for each category.

Effective watchlist screening detects potential risk at the earliest stage and helps avoid clients that are on sanctions lists or have a dubious background.

The client profile is carefully thought through and contains 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 systems 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 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

Providers of financial services are required to monitor the financial operations of their clients to prevent fraud, money laundering and sanctions violations as well as combat corruption, illicit trading, terrorism financing and tax evasion.

The KoenigFinance solution features a highly effective Monitoring engine that enables you to screen events ranging from document expiration to unusual transactions. Depending on your internal policy or AML regulations, questionable transactions can be suspended and funds put on hold until the payment is deemed policy compliant. Any account can be taken under special control.

Risk categories can be dynamically updated based on continuous monitoring of client's activity and information retrieved from public databases.

You can find any transaction in the system in no time using versatile search criteria.

Analytics and Reporting

KoenigFinance provides comprehensive tools for both internal bookkeeping and external audit, tax and financial reporting according to the IFRS. Reports can be generated to retrieve statistics on the company’s daily operations as well as payment activities of certain merchants.

Guaranteeing absolute AML compliance, the reporting tools by KoenigFinance aid a lot to harmonising the organization’s accounting processes and the interaction with regulatory authorities.

Similar functionality is available to merchants to review and export transaction history, get insight into the details of a specific transaction or payment request, and report to financial authorities.

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

The KoenigFinance account security system ensures that only authorized managers can access the program unit and the database as two-factor authentication is used on all levels of interaction with the system.

The platform provides flexible settings for permission management, allowing you to control access rights for whole departments as well as individual users.

Individual password reset timeframes can be set for managers who work with the platform, and an additional 2-factor check is performed every time a manager tries to log in to the system from an unusual IP address.

Vital mechanisms for server log data monitoring are also part of the system, 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

The Support unit also allows for fully electronic document exchange between the client and the system. Users upload all documentation required for account verification, authorizing transactions as well as solving any other issues into their profile where it becomes accessible to support managers, thus avoiding the need for submitting any papers.

The electronic document storage is perfectly in line with the GDPR principles and enables 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

The KoenigFinance platform 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.
DELIGHTING THE 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.

Customizable Checkout Pages

Your clients get a highly customizable checkout interface that will suit any merchant. The payment gateway can include any number of payment methods you work with, both traditional and brand new, from cards to cryptocurrencies. According to your compliance policy you decide what payment options to make available depending on the client’s business category (Forex, retail, entertainment services, etc.). Similarly, merchants can set up any combinations of payment options you let them use.

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

Along with charging usual payments for goods and services, merchants can receive donations, send individual payment requests and reminders (manually or automated), etc.

Your clients are not limited to a certain payment size either (except when set out by your policy), and by adjusting fees they are free to improve their pricing scheme by accepting microtransactions, installment payments, etc.

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, withdraw money, 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 newsletters;
  • 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.

SDK for Mobile App

Keeping up with the mobility trend, KoenigFinance offers an SDK for mobile app using which you can build a native application that will enable your clients to access and use their accounts at any time from any place. We provide you with API functions, and you work out the design and decide what options you make available to users. These can include:

  • balance check;
  • currency exchange, sending and accepting payments;
  • communicating with the customer support;
  • receiving push notifications and much more.

The app can automatically employ biometric identification mechanisms of the related platform (iOS, Android, Windows) to ensure access protection: fingerprint, face, voice recognition, etc.

API and Documentation

Every sub-account has individual API settings for seamless integration into merchant’s shop’s back end and automating the 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.

Easy-to-understand, developer-friendly documentation provides relevant reference points and ample code samples for setting up the KoenigFinance API for accepting payments and other operations.

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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