OneLinQ is a cloud payments company that takes the complexity out of payments and Open Banking. Its unique 'Solution' APIs provide a comprehensive Open Finance as a Service for banks, businesses, consumers, and fintechs. The AI-powered platform includes payments and account information services including KYC and transaction monitoring capabilities.

Head office
London, UK and Utrecht, Netherlands

Founder(s)
Parth Desai

Funding rounds and investors
Privately Funded, part of the Pelican AI Group

Service provider type 
Open Banking enablers
API connectivity for payment initiation
API connectivity for data retrieval & value-added services on the data
Consent management
End-user solutions and propositions

Fraud/risk/security

Banking-as-a-Service, via Pelican AI

How it works
OneLinQ’s comprehensive Open Finance as a Service platform provides ‘Solutions’ APIs that incorporate business domain intricacies within covering functionalities such as work flow, reconciliation, exception handling, analytics & reporting. OneLinQ connects 4,000+ banks across Europe together with all required payment infrastructure handling all your banking, connectivity, and financial operation requirements.

What problem does the company solve
Managing payments, multi-bank connectivity and financial crime compliance is complex, especially when basic APIs are available and multiple vendors required to create the end solution. OneLinQ offers all this seamlessly via its Open Finance as a Service platform with ‘Solution’ APIs, enabling customers to concentrate on their core service proposition.

Types of supported APIs\API standard supported
OneLinQ offers complete Open Banking interoperability to 4000+ banks via OBWG and Berlin Group APIs and also support entire range of AIS, PIS, and CAF APIs.
The API standard currently supported includes 
• OBWG 3.1.x
• The Berlin Group NextGenPSD2 - 1.1, 1.2, 1.3.x
• STET - 1.4.X  
• Czech - 1.1, 3.1 
• Polish - 2.x, 3.x 
• Slovakia - 2.0 

Industries/target markets
Banks, TPPs, PSPs, merchants, corporates, fintechs, consumers, lenders, and financial service providers.

Geographical coverage
Pan-European coverage (30 countries) including UK

Business model/pricing Volume based per transaction fees. 
We offer flexible pricing models depending upon partner’s business model. This supports OneLinQ as TSP (use your own regulatory license / authorisation) and OneLinQ as TPP (use OneLinQ’s regulatory license – covering both EU and the UK).

Technology
Cloud native [with on-premise and hybrid also available]

Software language
Java

Software development tools
Any software development kit (SDK) in Java, Ruby, cURL, Python, PHP, Node

When was the core technology developed
Open Banking – from 2018 onwards;
Payments – current cloud native version from 2015, originally 1995;
Financial crime compliance – current cloud native version from 2017, originally 2002.

Payment initiation solutions
OneLinQ Payment initiation service provides an integrated payment solution so that customers and end users can easily make secure payments, saving time and simplifying tasks, increasing productivity and freeing up resources. It can also receive payments by allowing the addition of a payment link to customer invoices, making it easy for customers to pay them promptly. Furthermore, OneLinQ helps simplify wages and tax payments created in the accounting system by connecting these payments to PIS from the company bank accounts with just a few clicks.
 
For Bill Payments, OneLinQ can pay any approved Bill and it is visible in its business app. Bills can be paid individually or grouped as a batch. OneLinQ can automate regular payments like payroll or pension, as well as one-off payments. Please see OneLinQ.com for further details.

Do you have redundancy and coverage provided by multiple integrations (APIs & Direct Access)?
Yes

How will you handle automated refunds?
Automated refunds are handled in two ways:
• Using OneLinQ’s escrow account in batch mode (merchant approves refund payments in the merchant dashboard and prefunds the escrow account);
• Directly by merchant to the buyer using a PIS request (refund payment is directly initiated from merchant’s bank account to the buyer’s bank account).

How will you mitigate the risk of bank transactions failing?
OneLinQ validates all the request before sending it to the bank as per their requirement - field occurrence, pattern checks, and mandatory information required. For all connectivity/network delays, we retry several times in a transparent manner. The error responses are informative and self-explanatory; and includes the bank native error information.

How will you reconcile payments efficiently?
Data from Payment Response, Payment Status Response and Account Information are used for efficient Payment Reconciliation. Each transaction has a unique internal id along with other reference information associated with it. These can be used to reconcile the status (Status API) and gather information relating to any payment (transaction API).

Partners
For more details, please contact our business development team.

Customers / Case studies
For more details, please contact our business development team.

Awards 
For more details, please contact our business development team.

Business revenue
For more details, please contact our business development team.