Bug Fixes:
Resolved a bug that prevented transactions between ordering party accounts from being correctly reconciled.
Table of Content
Functional Improvements
Depositary oversight workflow
A new oversight workflow has been introduced to support depositaries, enabling payment instructions initiated in a different tenant to be approved or rejected. This functionality allows for a clear separation of duties and facilitates compliance in scenarios where payment initiation and oversight are handled by distinct entities. Learn more here.
Counterparty permission scoping
A new counterparty scoping feature is now available, enabling administrators to control which counterparties are visible to each user. The functionality mirrors the existing scoping logic for ordering party accounts, and now extends segregation of access to include target (counterparty) accounts as well as source accounts. The enhanced control improves data confidentiality and supports more precise user access configurations across the platform.
User permission scoping on counterparties
Auto-approve and auto-reject signatory rules
The signatory rule framework has been extended to cover payment flows that don’t require user signatures. Payments can now be automatically approved or rejected based on predefined rule logic. This enhancement streamlines the processing of small payments and ensures that every payment is subject to governance controls and auditability, even if no specific business case supports them.
Auto-approve and auto-reject signatory rules
UI and UX improvements and small enhancements
Various refinements across the platform to ensure a more intuitive and user-friendly interface. Enhancements included a thorough review of labels, pagination and more.
Improved user interface
Table of Content
Functional Improvements
Securities reporting
The Securities Reporting feature in the LYNKS application enables users to integrate and manage their securities accounts alongside their cash accounts. This enhancement allows for a comprehensive view of global positions, combining cash and securities data on a single platform.
With this feature, users can:
- Monitor the overall status of their investment portfolio
- Track each security held, per account or in a consolidated view
- Safekeep individual accounts
- Monitor the evolution of the total portfolio value
- Analyze risk distribution by currency
This unified overview supports users in making informed investment decisions and planning their next steps effectively.
Additionally, securities account reports provided by the bank are available directly within the interface, offering deeper insights, analysis, and consolidation.
Detailed information about this feature, including screen descriptions, will be available in the User guide
User provisioning
The LYNKS application now supports user provisioning via the SCIM protocol (System for Cross-domain Identity Management). This feature enables organizations to centrally manage users by connecting their external user directory directly to LYNKS. With SCIM integration, any changes made in your identity provider—such as adding, updating, or removing users and groups—are automatically reflected in LYNKS.
Further details about this feature, along with screen descriptions and setup instructions, will be published in the User guide
Webhooks - workflow automation
The Webhooks feature lets your application automatically respond to key events within your API integration. By subscribing to events like payment status updates or new statements, your system can receive instant, real-time notifications as soon as they happen.
Further details of the feature and descriptions of the related screens will be published in the User guide
UI and UX Improvements and Small Enhancements
We’ve improved the application’s performance by fixing various bugs and addressing minor UI issues, resulting in a smoother and more reliable user experience. Additionally, we’ve made small enhancements such as updated icons, better readability, and more intuitive color coding to distinguish negative and positive feedbacks.
Minor improvements and bug fixes
Optimized the reconciliation algorithm for Direct Debits and resolved various bugs to enhance the overall user experience.
Table of Content
New Features and Improvements
Cash concentration
We’re excited to introduce cash concentration, a new cash management automation feature in the LYNKS application. With customizable rules, users can now define upper and lower thresholds to maintain target balances or transfer excess cash between accounts. This enhancement improves the treasury management capabilities of LYNKS by automating payment workflows and optimizing the management of cash surpluses.
Cash concentration functionality
LYNKS mobile app
We are rebranding the FinologeeSIGN mobile application to LYNKS Mobile App, bringing it in line with the LYNKS ecosystem. This update goes beyond a simple name change—it introduces a refined user experience with enhanced security and usability.
With a fresh, modernized design, the app now provides a more intuitive interface, making navigation smoother and interactions more efficient. Security remains a top priority, with reinforced authentication mechanisms and optimized data protection features. These improvements ensure that users can confidently manage their operations within a seamless and highly secure mobile environment.
Table of Content
Functional Improvements
Direct Debits
The new SEPA Direct Debit (SDD) feature enables fee collection in the LYNKS application, supporting both recurring as well as one-time direct debits. The implementation covers the complete direct debit flow (from LYNKS to the bank and back). The SDD batch is sent to the bank and its status is updated upon receiving the bank's feedback (in the form of PAIN.002 file). This new feature, which can be made available upon request, enables the creation of direct debits exclusively via the external API.
Further details of the feature and descriptions of the related screens will be published in the User guide
Table of Content
Functional Improvements
External API payment signature
If your ERP or back-office system already has a signature workflow in place, and you don't need an additional signature process in LYNKS, the API now supports submitting payments with an existing signature. This allows for seamless, end-to-end payment submissions to the bank without any extra validation.
Technical details are described on the API reference on docs.lynks.lu
Tenant Settings - User groups
The Tenant Settings section has been enhanced with the introduction of User Groups (formerly known as Signatory Groups). In the User Group Details screen, administrators can now assign permission sets and/or signatory rules to specific groups. These groups can then be assigned to selected users, who will inherit the permissions and signatory rights of the group they belong to. Additionally, the audit trail has been improved with more detailed logs for tracking the addition or removal of members from User Groups.
Detailed descriptions of the different screens and possible actions will be published on docs.lynks.lu
Tenant Settings - User groups
User groups - management
KYC Control improvements
The KYC section, which is dedicated to managing the KYC screenings of counterparties within LYNKS, has been renamed to Risk Management. The Counterparty Monitoring feature, which allows you to define the frequency of screenings based on risk level, has been relocated to the Settings section.
If the Risk Management feature is enabled for a tenant, and users with compliance permissions are managing counterparties, they can initiate a KYC screening during the counterparty creation process. Additionally, the interface allows for the setup of a signatory rule, based on the counterparty's risk level.
Risk management - KYC screenings
New Features
Integration with KYC Manager
KYC Manager is a compliance platform hosted in Luxembourg by Finologee, designed for managing digital client data and risk assessments (https://finologee.com/kyc-manager/). It provides a centralized interface for handling counterparty management and risk screening.
Once a client has been fully assessed and approved within KYC Manager, their information is automatically transferred to LYNKS, enabling them to receive payments.
Client risk levels and details are continuously synchronized between KYC Manager and LYNKS, with KYC Manager serving as the primary source of client data.
Counterparties created via KYC Manager
Integration with ERP
The integration with ERP systems using a native WebDav servlet interface provides a seamless way to share files between LYNKS and the ERP. This solution uses a locally mounted folder (LYNKSDrive) as a bridge between the two systems. It supports two main workflows: payment creation and statement handling.
Payment Creation:
The ERP generates a payment file in the pain001 format and uploads it to the mounted folder. This triggers the creation of the corresponding payment in LYNKS.
Statement Handling:
At the end of the day, LYNKS receives bank statements in either MT940 or CAMT053 format. After processing, LYNKS uploads the statements to the mounted folder, where the ERP can access them if needed.
LYNKSDrive - mounted folder bridge
UI and UX Improvements and Small Enhancements
Dashboard view per account
Introduction of the feature to filter the financial dashboard. This improvement enables the possibility to filter the aggregated view in order to display the financial overview by a custom selection of ordering party accounts or account groups. After selection of the one or multiple specific accounts or account groups, every chart and information is updated based on the selection.
Dashboard - filer per account or account groups
Warning message on duplicate payments
To help prevent duplicate payments, the payment creation modal now includes warning messages. These alerts notify users when they are about to create a payment that matches a previously created one. The system compares the payment's amount, currency, and counterparty with past payments. If a match is found, a warning message will appear, indicating a potential duplicate. The warning message also includes a link to a list of payments made in the past three months.
Payment creation - warning for possible duplicates
Bug Fixes and small enhancements
We have improved the application's performance by fixing several bugs and resolving minor UI issues, which enhances the overall user experience.
Table of Content
Functional Improvements
Signatory groups management
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.
Table of Content
Functional Improvements
Account groups management
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.
Bug Fixes:
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.