Paybook is a project that Lan supports because of its mission to oﬀer a financial hub that pro- motes automation, eﬃciency, collaboration and transparency.
It achieves this by creating innovative solutions centred around streamlining financial processes in an eﬀort to promote productivity, facilitate collaboration, and eradicate manual data entry and pa- per waste.
Its portfolio of solutions serve individuals, businesses, freelancers, governments, nonprofits and other organisations, oﬀering unique interfaces to fit each user’s needs.
Interestingly, the term ‘Paybook’ stems from the WWI and WWII era when governments needed to pay soldiers’ salaries and reimburse their expenses. It was, however, impossible to give cash every week to millions on the front lines, so instead, records were kept in books called ‘pay books’.
Each book stored personal information about a soldier, as well as how much pay he had earned and accumulated and any expenses he incurred, such as the purchase of arms, ammunition, and food. It was an important but rudimentary way to track income and expenses.
Today, Paybook has modernised the idea of the pay book by taking a simple, manual expense tracking system and transforming it into a one-stop, customisable solution for personal, social, and business financial management.
Paybook leverages multi-layer security mechanisms including dedicated firewalls and VPN ser- vices. Data is transmitted securely using industry-standards such as AES 256-bit encryption and is read-only so funds can’t be moved or transferred from within the app.
One of Paybooks solutions is Syncfy.
Syncfy is a RESTFul API that empowers companies by providing FinTech services that automate and simplify everyday business operations.
At its core, Syncfy helps discover, organise, and transform financial data while also reducing manual tasks and complex development.
With Syncfy, the app can connect to banks, credit cards, tax authorities, crypto exchanges, and payment gateways in as little as 15 minutes.
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