KoenigFinance Solutions for
Credit Institutions
Automation of modern banking services
that meets international quality standards

KoenigFinance is a multifunctional software platform that enables small and medium banks to set up virtually any financial process imaginable.

The solution efficiently handles challenging situations associated with various aspects of banking activities, including high transaction load, working with thousands of users and processing of a large number of documents.

KoenigFinance provides significant advantages on all activity levels:



Bank

Automation of financial processes in compliance with statutory rules and regulatory requirements.

Clients

Ergonomic interface for working with a full spectrum of banking tools and services.



OPTIMIZE YOUR BUSINESS PROCESSES

Onboarding

To open a personal or corporate account, a customer can either go to the nearest office or submit an application online. After that a bank manager launches approval procedures according to the KYC and AML standards.

Initial due diligence 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 platform allows for storing full structured client profiles that contain 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 verification via online video chat between a financial organization’s manager and a client is required as mandatory by some financial regulators and is an integral part of implementing the KYC principle — establishing user's identity with a high degree of reliability. Video check significantly cuts the risks linked to remote verification and is an additional way of confirmng the authenticity of the client’s documents.

KoenigFinance comes with a built-in autonomous tool for this procedure that doesn’t require any installation of extra software on the client’s side — logging in to one’s personal profile on the bank’s website using a modern browser will suffice. The video captured during the session is automatically uploaded to the client’s profile.

Compliance Monitoring

Regulators require that banks adopt a risk-based approach and put in place all necessary measures for preventing money laundering, fraud, sanctions violations, corruption, illicit trading, terrorism financing and tax evasion. KoenigFinance provides the latest monitoring technologies for real-time risk assessment and detecting suspicious activities carried out by clients.

What’s available:

  • Notifications about transpiring pre-programmed events — from exceeding account turnover to changes in personal data in the user profile;
  • Suspension of potentially fraudulent transactions until further investigation;
  • Dynamic updating of risk categories based on continuous monitoring of client's activity and information retrieved from public databases. Customer's risk category triggers the application of appropriate monitoring rules and additional checks for potentially risky clients.

Versatile search criteria and filters are available for getting details on any transaction in the system in next to no time.

Analytics and Reporting

There’s a great deal of functionality at your fingertips which you can use for collecting statistical data sorted by different parameters, forming summary reports and detailed analyses of the company’s efficiency.

  • Simplify everyday checks and internal control. Statistical data indicators are displayed on the Dashboard by default, namely: number of clients (broken down by registration status) and organization’s turnover data.
  • Create accounting and tax reports in compliance with international standards (IFRS).
  • Assess the performance of bank staff. Actions performed by all managers within the system are recorded, and a senior manager can view the answers given to clients by juniors, look up inquiries by assigned specialist, etc.
  • Analyze traffic, conversion data and other marketing metrics in the Web Analytics section.

Security

The safety of users’ personal data and protection from unauthorized access to the system are our main priority. As far as data security is concerned, the KoenigFinance platform has the following to offer:

  • utilization of two-factor authentication as an integral part of the log in procedure,
  • distribution of access among staff members so that managers could work with information appropriate for their competence level,
  • setup of individual time intervals for mandatory password change by managers for increased security,
  • activation of an additional 2FA-check when a manager tries to log in to the system from an unknown IP address (location).

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.

Tariffs for wire transfers are set apart into a group of their own: they include fee templates for SWIFT and SEPA payments, charge types (BEN/SHA/OUR), and other banking-specific settings.

Integrated Customer Support

In order to provide continued support to clients throughout the course of their interaction with the credit institution, we developed the Support Desk interface. All contact with the client is as paperless as it can possibly get — communication goes on through a system of electronic requests (tickets). A request can be created both by the client seeking to find a solution, and a bank representative seeking to clear something up or draw attention to the necessity of complying with the bank'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 (wire transfers, API, etc.), 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 your business policies, 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 it becomes 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 banking 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 banking 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 bank worker’s workplace.
OFFER IMPECCABLE SERVICES
TO 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.

Full Range of Banking Services

Process transactions in an instant by minimizing the likelihood of potential mistakes. The platform allows for providing all kinds of banking services and processing of financial operations:

  • opening and maintenance of accounts belonging to natural and legal persons;
  • setting payroll projects and other types of mass payments into motion;
  • wire transfers in international payment systems including SEPA and SWIFT;
  • currency exchange based on rates pulled from multiple sources in real time with the inclusion of intrabank commissions;
  • dealing and factoring services;
  • cash transfers via international money transfer systems, acquiring, issuance of bank payment cards, etc.

The KoenigFinance platform is the right way to easier loaning and managing of deposit accounts:

  • There is a wide range of settings for the customization of your loan and deposit products (interest rate, term, amount, etc.).
  • To apply for a loan or a savings account, all a client has to do is just upload documents to their personal profile for risk assessment and wait for the bank to make a decision and provide further instructions.
  • You can simplify the process of refinancing or applying for a new loan.
  • Clients can schedule automatic transfers to their loan or deposit accounts.

Website

The KoenigFinance platform contains an integrated framework for building a website and 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;
  • perform financial operations in a couple of clicks (pay a bill, send a transfer, etc.);
  • view accounts and balances;
  • convert currencies within accounts;
  • view transaction history, search for particular transactions and export account statements;
  • create templates for frequently recurring transactions;
  • apply for plastic cards, deposits, loans, etc.;
  • 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. 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 KoenigFinance platform comes 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 employ biometric identification mechanisms of the related platform to ensure access protection: fingerprint, face, voice recognition, etc.

API and Documentation

Open API is an integral part of any modern financial institution’s technology base. It is also essential for establishing the interaction with external services in accordance with the PSD2 principles. The KoenigFinance API allows you to give third-party providers access to customer data, automate online banking and other system processes, from customer registration to transfers. This minimizes 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 bank transfer receipts, generating authorization codes, 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 for developers helps IT specialists get comfortable with the system’s functionality in the shortest possible time. It also contains examples of code used when implementing the API functionality in various programming languages.

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 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

The KoenigFinance solution is based on Microsoft technologies: the platform is implemented in C# language and runs under MS Windows Server 2016. The solution is easily deployed on any hardware platform or operating system.

Coordination of Branches

Expand and optimize the organizational structure of the bank while significantly saving funds. The platform operates regardless of the scale of the bank's branch network and the volume of operations performed.

Security

All connections are secured with 256-bit encryption algorithms. The authentication of your clients is implemented in compliance with PSD2 standard, and the monitoring tools guarantee maximum reliability.

An Open Code Project

Access to solution's source code allows for customization of the platform for your specific needs and enables for working with versioning systems and code audit.

Content Management

The platform offers tools for easy management of the website's content, including the localization of pages and services for users from different countries.

E-Document Management

The operation of the system is connected to electronic document management, which is an integral part of all platform's processes including support service, reporting, an interaction between employees, etc.

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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