The Signatory Groups Management feature enhances the autonomous management of signatories within the LYNKS tenant. Administrators can now create new signatory groups, facilitating the management of signatory rules. These groups are linked to signing rules that define who is eligible to authorize specific payment ranges. The feature also allows administrators to edit existing groups and the notification preferences of their members directly through the tenant settings in the LYNKS UI. For more details, please refer to the guide.
Settings - Users- Signatory groups tab
Notification on payment cancellation, rejection or failure
Until now, only signatories and the payment creator were notified when a payment was canceled, rejected or failed. With this new release, notifications can now be enabled for other user roles. For example, auditors can now be notified for any of the following payment statuses:
Canceled
Rejected by signatories
Failed
Rejected by the bank
Pending delivery for more than 7 days
To enable and configure these notifications, please contact the Customer Support team.
New payment status
In this new release, we are introducing a new intermediary status for payments. If a bank includes payments with a future value date in their end-of-day statements, these payments will be marked as Booked by bank in LYNKS. This status will remain until the payment is updated to Executed by bank after the value date has passed.
Booked by bank payment
UI and UX improvements and small enhancements
Account balance report
The Account balance report has been enhanced to consistently show the most recent known balance of an account. Users on the reports page can now generate balance reports for specific accounts within a chosen timeframe. As part of these improvements, LYNKS ensures that the report includes the latest known balance for an account, even if the balance date falls outside the specified timeframe. This update enhances the overall user experience and usability of the account balance report.
Account balance report
Small UI changes
Several small yet impactful changes have been made to enhance the look and feel of the application. These include:
Updated wording
Enhanced tooltips on the dashboard
Improved feedback messages throughout the application
Updated icons
Enhanced status tags, among others.
Bug Fixes and small enhancements
Improved application performance by addressing several bugs and resolving minor UI issues, enhancing the overall user experience.
The Account Groups Management feature, now accessible within the LYNKS settings section through a dedicated tab, streamlines the process for administrators to create and manage account groups. Administrators can create new account groups and configure their content. Additionally, they can add or remove accounts from existing groups, enabling efficient access and permission management, particularly for signing rules.
Account groups management
Signatory rules
The Signatory rules feature aims at improving tenant management autonomy by allowing administrators to easily understand, create, and edit the signatory matrix directly within the application. Accessible via the 'Signatory rules' tab, this feature intuitively presents the current signatory rules and facilitates modifications. Moreover, it enables the creation of new signatory rules by defining parameters such as payment amount range, account groups, currencies, payment categories, and signatory groups.
For further insights into the capabilities of this feature, refer to the dedicated section in the LYNKS User Guide.
Signatory rules
Reports
LYNKS' reporting section has been significantly enhanced to improve user experience and functionality. The tool can now generate reports on both transaction history and account statements.
The Transaction History Report presents a list of all incoming and outgoing transactions. It extracts data from bank statements to compile this document. Users can customize the time range and specify ordering party accounts for the report.
Account Statements are processed in the application, and stay available for reporting. Users are able to download the original account statements (MT940 and CAMT053) files for a selection of ordering party accounts and a specific time range.
Reports
Payment Initiation Files to Download
The payment status report has been enhanced with information that allows confirmation of payment initiation. The document now includes the original payment instruction file sent to the bank (in formats MT101 or PAIN001). The Download payment status button is available for payments that have been sent to the bank and are in status Pending execution by bank.
Payment status report
UI and UX Improvements and Small Enhancements
Remember Pagination
With the release of version 5.2, we've upgraded the configuration of views and pagination. This means the application now retains your chosen number of rows to display per page. This enhancement ensures a smoother user experience, eliminating the frustration of tables resetting the display amount.
Bug Fixes and Small Enhancements
Addressed several bugs to enhance the overall user experience and resolved minor UI issues to boost application performance.
Resolved various bugs to improve overall user experience and correct the display of incoming and outgoing payments on the bank accounts and transaction history page.
Administrators can now effortlessly add a user to a new tenant, even if the user already exists in another tenant, and activate Single Sign-On functionality. Additionally, administrators have the option to trigger notifications for newly added or modified authentication methods, streamlining the onboarding process for new users within LYNKS.
Notify user on added authentication method
Reports
LYNKS' reporting section has been significantly enhanced for improved user experience and functionality.
One notable addition is a new report focusing on configured ordering party accounts. Starting from version 5.1, users can generate detailed reports on account balances for specific periods. These reports include information on the last known opening and closing balances, offering valuable insights for cash management.
Furthermore, users now have the ability to generate a report detailing the current state of their configuration. This downloadable report, available exclusively to administrators, provides a comprehensive overview of the access and permissions matrix, along with the signatory matrix, conveniently presented in a .xlsx file format.
Changes related to Bank accounts and Transactions
Bank accounts
The Bank Accounts pages have been enhanced to offer a more engaging visual experience. As a result, we have revamped the previous "My Accounts" page, introducing the new "Bank Accounts" list screen. The overview has undergone a makeover, now featuring widgets and improved in-out transaction information on the table for better clarity.
Accounts list - by accounts
To enhance the Accounts list further, we've added a toggle that allows users to view the list organized by account groups. This feature greatly improves the user experience by making it easy to identify which account belongs to a specific group.
Accounts list - by account groups
Transactions history
A dedicated page provides a comprehensive list of transaction history, enhancing visibility for both incoming and outgoing transactions. This allows users to easily review all transactions, whether they were initiated through LYNKS or external sources.
Transaction history - list
UI and UX Improvements and Small Enhancements
FinologeeSIGN
We have rebranded our Authentication mobile application to FinologeeSIGN. With a focus on security and user-friendliness, we've made substantial improvements to ensure a seamless and protected mobile experience.
Wording and Design Updates
We've made improvements to the wording and design on several pages, aiming to enhance the overall user experience.
Bank accounts display
Organize your accounts effortlessly by grouping them based on various criteria. This not only enhances visual appeal but also ensures a more streamlined and engaging interface.
Immerse yourself in a redesigned LYNKS Dashboard, offering a holistic view of your financial landscape, including accounts, balances, payments, and cashflow evolution.
Designed to provide the most effective overview of the financial situation, accounts, balances, payments and cashflow evolution. Split into dedicated sections, the new LYNKS dashboard offers a comprehensive overview, allowing you to conveniently access and review the following information in the redesigned widgets:
Current financial situation (exchange rate applied) section previews effectively the aggregated yesterday’s closing balance, yesterday’s amount of executed payments, yesterday’s incoming payments and finally today’s amount of planned payments via LYNKS.
The Bank accounts widget summarises your integrated accounts by currency while indicating the previous opening and latest balance and the evolution.
Credit transfers shows an overview of the credit transfers in various states indicating dependencies of not approved counterparties.
Counterparties shows an overview of the counterparties that need some attention to be reviewed.
Dashboard - part1
Top transactions overview lists the 10 transactions with the highest amount of yesterdays requested execution date. The table displays the most relevant information: ordering party account, counterparty accounts, amount, status
Overdue credit transfers widget is a cumulative chart with total amount in EUR representing the overdue credit transfers by requested execution date in relation to states prior to ‘Executed’
Cashflow evolution is a chart by ordering party that displays the past -outgoing and incoming- payments (LYNKS and non LYNKS) with balances, the present day and a forecast of the future with upcoming payments scheduled for the next 7 days.
Dashboard - part2
Authenticator Multi-tenancy
A user with access to multiple LYNKS tenants is now empowered to use the Authenticator app as one same authentication method to access and manage requests for all his tenants. While managing requests you are always aware for which tenant the request was initiated.
Authenticator mobile app
Deactivation of Ordering Party Accounts
Inside the settings of the application easily deactivate ordering party accounts. Payments in any status that is not final will be automatically cancelled upon deactivation.
Settings > Accounts - deactivation
Deactivated ordering party accounts
Changes related to Transaction Creation and Display
ECB Foreign Exchange Reference Integration
LYNKS integrates with ECB Foreign Exchange, facilitating the conversion of amounts to the tenant's base currency or an ordering party's default currency. The conversion is only an estimation conducted by applying the known daily exchange rates from ECB. The payment conversion is ultimately completed on the bank's end, and it typically requires approximately 2 days to be processed.
Inside LYNKS the symbol (≈) indicates that exchange rates were applied to calculate the balance or amount displayed by the interface.
Applied ECB Foreign Exchange Reference
Correspondent Bank Information
LYNKS enables the creation of payments with correspondent bank details, either by inserting the BIC in the creation modal or by uploading a payment file including the correspondent bank BIC.
Correspondent bank BIC input field on payment creation modal
Notifications for Non-executed Transactions
Two new notifications are introduced to provide a better feedback to the creator of a payment, informing that payments were not executed either because they were rejected by the bank with a NACK, by a user or because they were pending execution for over 7 days and LYNKS did not receive a proof of execution.
Example - Notification for rejected payment
Example - Notification for pending execution for 7 days
Account Balance at Initiation
For an improved overview of the funds, the tool now displays a calculated balance of the ordering party accounts when manually creating payments, considering the last known balance, and planned outgoing transactions.
Calculates account balance at payment initiation
New API endpoints
API endpoints have been added for managing accounts, account groups, account statements, and payment categories. See the full reference here: https://docs.lynks.lu/reference.
Autocomplete BIC from IBAN
Inserting the IBAN on the UI now automatically derives the BIC with additional validations, enhancing efficiency. Validations are run on the country codes, the structure of the IBAN, the checksum and additional conditions imposed by swift per country. The BIC can be manually overwritten and edited during the creation process or afterwards. IBAN and BIC combinations still need to be unique in the system.
UI and UX Improvements and Small Enhancements:
My Accounts Overview
Enhancements to improve the overview with new columns in the accounts list, displaying incoming and outgoing transactions, as well as balances by default. This redesigned default view provides a comprehensive first glance of the state of your accounts. As usual the columns and views can be arranged and saved in a custom view.
My accounts columns enhancement
Filters Redesign
The filters on our tables were redesigned to provide intuitive primary filters for each page, while the other filters remain accessible under ‘More filters’ with some improvements enhancing the user experience and visibility of the selection.
Example - Primary filters
Example - applied filters
Wording and Design Updates
Various pages have undergone changes in wording and design to further enhance the overall user experience.
Bulk Menu
Experience a more streamlined interface with a redesigned bulk menu, featuring rearranged action buttons by category and summed total amounts by currency for enhanced transaction overview.
