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

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

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

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

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.

Table of Content

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.

Notify user on added authentication method

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

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

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

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.

  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

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.

    Dashboard - part1

    Dashboard - part1

  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.

    Dashboard - part2

    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

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

Settings > Accounts - deactivation

Deactivated ordering party accounts

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

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

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 rejected payment

Example - Notification for pending execution for 7 days

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

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

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 - Primary filters

Example - applied 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.

Example - bulk menu selection

Example - bulk menu selection