Pay Lynxs services include: product development, technology and operations, marketing and adoption, as well as retail customer support.

When it comes to developing a remittance processing service for a particular global financial institution we first want to understand the goals of the organization as it relates to offering this type of product. Our goal is do the upfront work to configure the Pay Lynxs products so that they can be quickly implemented and integrated. We typically follow the following steps when working with a new customer:

Discovery – Based on our initial conversations we have a 2 hour structured working session to discuss the options that might be available to your organization regarding a remittance product. The result of this session is to establish a clear vision for what solutions makes the most sense for your organization.

Definition – From the discovery session we prepare a proposal for how we would combine the Pay Lynxs application tools and services to meet the needs of your organization. This proposal is presented to the product group responsible for this initiative. The proposal typically includes a description of how the applications will work operationally, the financial projections you might expect to earn from offering the product, the one-time fees, recurring revenue components, revenue sharing arrangements, and the ongoing operational support structure.

Development – Pay Lynxs will configure the application to integrate with your operations based on the specific product you plan to offer. Integration includes the following: Batch files for ACH, SWIFT, Flat File Advice, book transfers, real-time data exchange, OFAC blocking, foreign exchange rates and trading, available receiving countries, payment methods, and limit rules.

Testing and Deployment – Pay Lynxs will work with your product, operations and technology team to test the product through a series of use cases and performance testing. In addition, we encourage a soft launch approach to ensure that all of the operational procedures are working properly. Pay Lynxs will assist with training of your staff or the staff of your correspondent banks that are using the product.

Operations – Pay Lynxs will operate the application on behalf of your organization and we will support your product group, marketing team, and customer support team with the resources that are necessary to expand the application, increase adoption, and provide support for customers using the product. Our financial success is tied to your financial success so Pay Lynxs works very closely with all financial institutions to encourage marketing activities and feature expansion that will help to drive adoption. For institutions that prefer an in-house solution, Pay Lynxs will train the bank and provide ongoing support.