Products: FinLync’s suite of SAP-certified applications includes Balance Inquiry, Payments, Approvals, Status Tracker, Reconciliation, Accounts, Financing and Forecasting.
Overview: FinLync’s suite of treasury applications allows corporates to integrate their bank and ERP data, enabling corporate treasury teams to benefit from secure features such as real-time payments, balances, account information and status, machine learning-assisted reconciliation the same day as transactions. Real-time data is delivered via a simple, customisable dashboard.
By leveraging bank APIs and embedding the technology within the client’s ERP, FinLync enables corporate finance and treasury departments to have greater control and visibility over their data than legacy treasury management systems provide, with “financial institution-grade” security.
In September 2021 FinLync launched the industry’s first publicly available corporate bank API catalogue for treasury and finance teams. The catalogue provides a “comprehensive and continually-expanding directory” of corporate banking APIs worldwide, which it says treasurers can compare “at the touch of a button”.
In May 2022, FinLync announced its partnership with Deutsche Bank. Integration with FinLync is aimed at making it easier for corporates to adopt the bank’s APIs, and aid the roll-out of automated, real-time treasury.
Full press release on this partnership here.
In July 2022, FinLync announced that it had received a strategic investment from Workday Ventures, and had joined the Workday Software Partner programme. The new arrangement is expected to help FinLync deliver its real-time payments and multi-bank API connectivity solutions to help customers shared with Workday Financial Management reduce the time and effort needed to integrate with their banks.
Clients: FinLync works with a number of Fortune 500 and Fortune 2000 companies, including Citrix.
Active region(s): Employees from 11 different countries and offices in Singapore, Los Angeles and New York.
Partners: Global bank partners include J.P. Morgan and Standard Chartered.
Employees: 42 employees across 2 countries.
Funding: In May 2021, FinLync announced that it had closed on a $16m equity funding round. Point72 Ventures led the financing and included investments from Nyca Partners, former CFO of Palantir and Founding Partner of Friends & Family Capital Colin Anderson, and Plaid Founder William Hockey.
Ownership: FinLync is a privately held, venture-backed company.
Elevator pitch: “FinLync’s ERP-native apps give treasury teams total data integration with the ease of an app install, the real-time power of APIs, and the intuitive design you’ve come to expect in consumer apps. Instead of being hamstrung by third-party systems and weak links, treasury and finance departments can now maintain uninterruptible connections to all of their banks. That constant visibility means more liquidity, better decisions, and the elimination of fraud. And because it’s a native install, it can be up and running in a matter of weeks, not months.”
Phone: 00 1 484-401-4117
TMI view: The clue as to what this company does is in the name: with treasurers often subject to dis-connected systems and manual processes, optimisation is often only a dream. FinLync aims to bring it all together in the simplest possible way.
Verdict: A simple solution to integrate bank and ERP data is a welcome addition to the family of treasury technology.