At Finweg, we develop new Digital Payment Solutions on Blockchain technology to facilitate the offer of services provided by financial institutions.

We have more than 20 years of experience in the development and implementation of technology and solutions for payment processing, covering the entire process from its deposit, back-office validations and presentation to the Clearing House, in high production environments in Spain, Latin America and the USA.

The full lifecycle of payment orders is managed in a comprehensive manner, providing a global view of their status to all the actors involved, according to the rules and regulations of the applicable organisations.

Its settings reduce processing and information exchange needs between entities because they all work with the same smart contract model.

It replicates printed check regulation but on electronic support. It maintains the unique features of the check payments and eliminates the negative features associated with paper handling.

It offers a more efficient electronic alternative for check payments, improving risk and liquidity management, reducing clearing accounts funding needs and eliminating fraud.

Integrated electronic trade relations management regulated through letters of credit. Payer, recipient, issuing bank and other players involved manage the process through a Smart contract that guarantee to all of them that the agreed terms are fulfilled and payments are automatically released.

They comply with the regulations and the specific type of letter of credit providing guarantee to the process.

Integration of all players and automatization of the process lead to a dramatic reduction of operating costs and lead times.

International multi-currency payments management with global liquidity management.

It replicates the current model but using a blockchain platform to manage the exchange quotation process and the subsequent transfer by applying the currency exchange rate and its liquidity at each end.

Transactions are completed in real time. The liquidity of the system is managed in real time as well, drastically reducing the need of movement of money.

The platform enables the design of new payment means directly integrated with the financial systems of all Banks and the clearing and settlement systems.

New players with specific roles can be included, managed by Smart contracts that guarantee that all players work with the same business rules, in a secure, transparent and non-repudiation way.

It can be included constraints to fulfill the operations such as milestones achievement (dates, deliveries, supplies, etc.), validations by entities (notaries, registrars, authenticating officers, etc.) or automatic events (triggered by machines or systems through IoT integration).

The platform guarantees Universal Access to the payment mean and its rapid deployment.