Financial Institutions

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.

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.

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.

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.

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.

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.

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.

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.

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.

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 Webhooks 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.