White Paper NEW! – Read our latest industry article ‘The future of technology in financial services’ by Enginef
Our Banking Hub Solution
The Enginef Banking Hub is a groundbreaking Cloud Banking Saas Solution that has resequenced the DNA of digitised financial services. Incredibly fast, secure, agile, and painlessly simple open banking technology, the Banking Hub allows you to offer your customers the customer first banking services they demand.
Banking Hub – Uncovered
A fully integrated Cloud Banking Saas Solution that supports the ability to configure and customise the entire range of customer first banking services covering:
Fully Integratable Solutions
We deliver agile and expandable banking technology to support customer-first digital banking transformation. The Banking hub works as the middleware across a wide range of systems, services, APIs, Apps, partners & industry sectors
Ensure a seamless user experience both for internal operations and external customer services, for your workforce, customers and clients. Easy to use, intuitive and effective.
Collaboration is at our core, our solution breaks down silos and harnesses the power of data and a connected digital ecosystem to transform your business.
Low Code Configurability
Using low code we achieve a truly fit for purpose technology, for all facets of your business. Our Digital Business Modeller enables you to configure the solution to your exact requirements.
Integrate to any number of internal and external services via APIs as required. Centralise and remove legacy.
Scalability + the Cloud
Having the ability to future proof your business is key — our solution is cloud based and truly scalable, it will grow with your business and customers.
Tested at 14,000 Transactions per Second (3x VISA’s entire processing volume across 400m cardholders in Europe on the busiest shopping day of the year).
Underpinned by our agile cloud based frame work
Banking Hub core benefits
Banking Hub provides unparalleled and highly configurable support for multi-currency transaction processing enabling:
- Single or multi-currency FX transaction conversion in real-time
- As of value date/transaction date support
- GL/Treasury management and position keeping
- Real-time Profit & Loss computation
- Multiple FX rate sources
- FX rate premium and discount spreads by currency
- Support point in time and time-series evaluation of transactions into defined currency list
Single or multi-currency FX transaction conversion in real-time
As of value date/transaction date support
GL/Treasury management and position keeping
Real-time Profit & Loss computation
Multiple FX rate sources
FX rate premium and discount spreads by currency
Support point in time and time-series evaluation of transactions into defined currency list
At the heart of any core banking system lies the ability to calculate interest. The Banking Hub like any established credible banking system provides the ability for sophisticated interest calculations.
Unlike many banking systems that were designed decades ago, Banking Hub represents the next generation of banking which supports traditional and modern interest and profit rate (shariah finance) calculation capabilities including:
- Rate hierarchies spanning product, customer, account and product plus account permutations
- Tiers / Ladders
- Fixed / flat rates
- Variable / floating rates
- Value Date and Transaction Date accounting
- Sophisticated tenor / term rate schedules comprising option for separate P+I holidays, schedules, rules and rates
- Conﬁgurable accounting rules
- Conﬁgurable accrual windows
- Support for average and actual balance calculations
- Scalable supporting tens of millions of customer accounts
- Real-time / continuous accrual
- Smart resilience
- Supports Blockchain, relational, NoSQL database architecture
- Base and Concurrent multi-currency calculations
Accrue and Apply or Immediate Apply mode processing flexibility
- Full transaction and calculation audit trail
- Certified sign-off
Rate hierarchies spanning product, customer, account and product plus account permutations
Tiers / Ladders
Fixed / flat rates
Variable / floating rates
Value Date and Transaction Date accounting
Sophisticated tenor / term rate schedules comprising option for separate P+I holidays, schedules, rules and rates
Conﬁgurable accounting rules
Conﬁgurable accrual windows
Support for average and actual balance calculations
Scalable supporting tens of millions of customer accounts
Real-time / continuous accrual
Supports Blockchain, relational, NoSQL database architecture
Base and Concurrent multi-currency calculations
Accrue and Apply or Immediate Apply mode processing flexibility
Full transaction and calculation audit trail
Registration KYC AML Sanctions
At the heart of a digital solution for financial services sits a streamlined and configurable customer on boarding and registration capability. Banking Hub provides a highly efficient, fully digital and paperless means by which customers can register and as part of that registration process, comply with constantly evolving KYC, KYB, AML, PEP, Sanctions and other regulatory and financial-crime mitigation mechanisms.
The Banking Hub platform has been created to anticipate and respond quickly to ever changing regional and international policies and regulatory expectations. Banks, non-banks, startups and FinTech’s benefit from Banking Hub’s ability to support different national and customer segment requirements on one common platform.
In a digital world where increasingly more and more services are becoming open via APIs, Banking Hub is a solution that embraces such initiatives and itself goes above and beyond what is required by regulations to enable open access to every feature, product and service that the technology offers.
Banking Hub can support a wide range of requirements spanning:
- PSD2 / 3 and beyond
- CMA 9
- Open Access
- Account Information Service Providers
- Payment Initiating Service Providers
PSD2 / 3 and beyond
Account Information Service Providers
Payment Initiating Service Providers
E-Money Institution as a Service
Enginef is able to offer an e-money license across Europe and via partnerships elsewhere enabling companies and new digital banks / non-bank financial entities to receive, manage and disburse client money/funds.
The Banking Hub platform has been created to anticipate and respond quickly to ever changing regional and international policies and regulatory expectations.
Banks, non-banks, startups and FinTech’s benefit from Banking Hub’s ability to support different national and customer segment requirements on one common platform.
Security & Authentication
In a world of constant threats from Cyber security and financially motivated crime and account takeover threats, Enginef has invested in a number of measures to minimise / mitigate the inherent risks that the whole industry faces from cyber criminals and denial of service disruption.
Security measures have been implemented, in accordance with latest thinking and ISO standards to protect customer access, infrastructure and data coupled with ongoing testing and certification management.
Further details can be made available on request under security-specific enhanced NDA / contractual confidentiality provisions.