Table of Content

• Functional Improvements
  • External API payment signature
  • Tenant Settings - User groups
  • KYC Control improvements
• New Features
  • Integration with KYC Manager
  • Integration with ERP's (WebDav)
• UI and UX Improvements and Small Enhancements
  • Dashboard view per account
  • Warning message on duplicate payments
  • Bug Fixes and small enhancements

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

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.

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.

Integration with ERP

The integration with ERP systems using WebDav provides a seamless way to share files between LYNKS and the ERP. This solution uses a locally mounted folder 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.

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.

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.

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
  • Notification on payment cancellation
  • New payment status
• UI and UX Improvements and Small Enhancements
  • Account balance report
  • Small UI changes
  • Bug Fixes and Small Enhancements

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.

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.

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.

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
  • Signatory rules
  • Reports
  • Payment Initiation Files to Download
• UI and UX Improvements and Small Enhancements
  • Remember Pagination
  • Bug Fixes and Small Enhancements

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.

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.

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.

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.

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.

Table of Content

• Functional Improvements
  • Advanced tenant configuration
  • Reports
• Changes related to Bank accounts and Transactions
  • Bank accounts
  • Transactions history
• UI and UX Improvements and Small Enhancements
  • FinologeeSIGN
  • Wording and Design updates
  • Bank accounts display

Functional Improvements

Advanced tenant configuration

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.

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.

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.

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.

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.

1. Bug Fixes:
   1. Resolved various bugs to enhance overall user experience.
2. Performance Improvements:
   1. Increased the maximum transaction rate to accommodate large bulk payments.
3. Transaction Reconciliation Algorithm:
   1. Implemented performance enhancements to improve the efficiency of the transaction reconciliation algorithm.

Table of Content

• Functional Improvements
  • New Dashboard
  • Authenticator Multi-tenancy
  • Deactivation of Ordering Party Accounts
• Changes related to Transaction Creation and Display
  • ECB Foreign Exchange Reference Integration
  • Correspondent Bank Information
  • Notifications for Non-executed Transactions
  • Account Balance at Initiation
  • New API endpoints
  • Autocomplete BIC from IBAN
• UI and UX Improvements and Small Enhancements
  • My Accounts Overview
  • Filters Redesign
  • Wording and Design Updates
  • Bulk menu

Functional Improvements

New Dashboard

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:

1. 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.

2. The Bank accounts widget summarises your integrated accounts by currency while indicating the previous opening and latest balance and the evolution.

3. Credit transfers shows an overview of the credit transfers in various states indicating dependencies of not approved counterparties.

4. Counterparties shows an overview of the counterparties that need some attention to be reviewed.

   

5. 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

6. 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’

7. 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.

   

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.

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.

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.

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.

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.

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.

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.

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.

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.