Fintech solutions

Being key players in the digital ecosystem is necessary in order to face up to the challenges of an increasingly complex and connected world, where financial operators interact with new market players, who are often more agile at managing change, and customers demand new, personalized and efficient responses.

The new business model in the world of Finance solutions can be seen as a platform composed of complementary elements, which are able to manage operations in an agile and proactive manner to cope with market changes.

In this area, the expertise of Lutech’s dedicated vertical teams makes it a leader in the design and implementation of application solutions for the following:

• Credit management and supply chain finance, in particular with the K4F Factoring and Consumer Credit platform, WOF Remote Factoring solution and Forward 3000 solution for Leasing and complete management of NPL and UTP
• Regulatory compliance solutions: Compliance and Regulatory Reporting for financial intermediaries, banks and insurance companies with Phoenix, Electronic Invoicing with Elinex, Digital Signatures with CST.FDR
• Management of tax procedures for Italian customers at foreign banks

The current transnational Supply Chain Finance situation consists of individual vertical silos and highly fragmented processes. However, thanks to enabling factors such as blockchain or distributed ledger, this approach is undergoing a real revolution and it is in this context that Lutech continues to invest in the development of technologies dedicated to Supply Chain Finance.

In this scenario, Lutech presents itself as a key partner thanks to its integrated offering and extensive vertical expertise. Traditional expertise in back-office and administrative systems for the factoring sector combines with innovative digital and dematerialized solutions to guarantee the efficiency of the approval and finance disbursement process, allowing a progressive evolution of the offering for fintech platforms to produce winning solutions, with the integration of onboarding and digital signature services, as well as credit assessment support tools. 

The main solutions offered in this field by Lutech’s team are:

With the K4F – Keystone for Finance Platform, focused on Factoring, Consumer Credit, Financing and NPL Securitization, Lutech has taken a leading position in the Italian market of financial operators specializing in the supply of credit.
It is a suite of products and services offered in three different manners: insourcing, IT outsourcing or full outsourcing

It is a suite of products and services offered in three different manners: insourcing, IT outsourcing or full outsourcing.

K4F is a web-based multi-platform solution which is functionally complete, highly reliable and scalable. It also features an Invoice Trading platform, widening the target of potential SME customers. 

Lutech’s WOF Remote Factoring Platform is the solution for consulting data, documents and payment transactions (e.g. entering transfers, financing applications and confirmations, entry of suppliers, requests for review of ceilings etc.), designed for Customers and Business partners of financial intermediaries.

In addition to the traditional financial leasing formula, Lutech also offers operating leases, with a strong component of services related to goods, such as insurance against damage and theft, planned technology upgrades and scheduled maintenance.

The vertical solution dedicated to leasing is Forward 3000, a front-to-back, multi-product and multi-company platform for the management of financial leasing contracts, rentals and loans, which can be extended to UTP and NPL, and has been developed with a service-based logic. The platform is fully cloud ready and includes all contract lifecycle management processes, permitting decentralization of strategic functions for the sales network and ensuring the simplification and standardization of operational processes, constant monitoring, and integration with EDM systems, along with the ability to work on the platform from multiple locations.

Lutech operates in areas of great importance such as regulatory and process consulting, as well as in the core area of supervisory reporting: from business expertise and implementation of vertical solutions, to business process outsourcing services.

In the world of banking and capital markets, with experience in the world of securities and derivatives, private banking and security services, we offer consulting services ranging from review and management of business processes, to banking and financial compliance issues.

PCPTM - PHOENIX COMPLIANCE PLATFORM™ is Lutech’s integrated Compliance and Regulatory Reporting platform for financial intermediaries, banks and insurance companies, designed to facilitate the management of repetitive business processes with a Business Process Automation approach.

Elinex™ Elinex™ is Lutech’s customizable application solution that allows VAT liable parties to manage the process of transmitting and receiving electronic invoices issued by and to private individuals and public bodies, while respecting corporate compliance.

Benefits:

• Meet all Revenue Agency reporting requirements
• Import invoices after entry into accounting systems
• Carry out formal checks on information 
• Digital signing
• Log sent documents and notifications
• Manage incoming invoices

CST.FDR™ (Remote Digital Signature) is Lutech’s solution for mass and remote digital signing with time stamping that renders physical devices obsolete. The digital signature certificate is installed at the Certification Authority and guarantees security, efficiency and better control of the operating process. The “delegation” function allows automatic mass signing of electronic documents, through which the platform can in turn launch the digital signature process without user intervention.

Lutech's tools facilitate compliance with tax reporting requirements pursuant to tax legislation governing Italian entities that hold assets and investments in foreign banks, and perform services such as tax calculation, reporting for customers, management of taxation on financial instruments such as shares, bonds, UCITS, options, futures, certificates and cash accounts. 
 

Risk management & treasury, RTM

RTM operates in the areas of Treasury and Risk Management (Risk Control, Self-Assessment), with some extensions to accounting back-office, exportation of data to external procedures, and supervisory reports.

Benefits:

• Data entry
• Verification of financial resource availability following the transaction
• Monitoring of liquidity over time (position keeping) 
• Management of various types of operating limits
• Measurement of credit and operating risks

European system for central settlement of securities transactions, T2S

The Target 2 Securities (T2S) module offers integrated management of securities settlement instructions towards the circuit itself, acquires status and settlement progress from the circuit, forwards settlement instructions, and acquires the transactions performed. All these flows are shared through applications and through ISO 20022 messaging. It allows the integrated management of fees, FOP with Bank of Italy, Portfolio Transfer and External settlement.

Dynamics NavPreviPlus

NavPreviPlus is the verticalization on the Microsoft Dynamics NAV platform implemented by Disc to meet the specific needs of managers of negotiated pension funds, with evolution towards open pension funds.

The solution is kept up-to-date with the applicable legal regulations.

NavPreviPlus consists of the following modules:

• Individual Accounts (Management of the active member)
• Pensions (Payment of pensions)
• Management of satellite processes (eg Generation of COVIP statistics, Management of CU, 770 and F24 models)
• Account management
• Securities Management
• Handling complaints
• Web (Public Site, Members and Companies Reserved Area)
• Online Voting Management

Dynamics NavAssistPlus

NavAssistPlus is the verticalization on the Microsoft Dynamics NAV platform implemented by Disc to meet the specific needs of Healthcare Fund managers.

The functions of the application are described briefly below:

• Registry
• Contribution (Interface with the salary system, Charges via SDD)
• Practices management
• Management of direct and indirect services (managed by the insurance company)
• Refund Management
• Supervisory reports (Tax Register)
• Control reports and statistical printouts
• Sending communications and documents to members via email
• Web (Associates Reserved Area)
• Online Voting Management (via associated reserved area)