FintechOS 22.R3 Update Pack 5

July 24th, 2023

This version release of the FintechOS Platform comes with new features and improvements to current capabilities, as well as bug fixes. One highlight is the decoupling of Distribution Management, formerly known as Third-Party Management. The solution is now available standalone.

Launch

Define Banking Products

This release of the Banking Product Factory comes with extended versioning and cloning for banking product-related entities and a series of formula-related features that support penalty interest rate calculation, filtering products, or leveraging underwriting rules at the product level. The Banking Product Factory also brings changes needed to support the new Loan Management v4.1, such as write-off options at the product level or Actual/ 365 interest type calculation for schedules.

Check out the dedicated release notes.

Service

Distribution Management

Distribution Management helps you manage third-party entities (agents, brokers, insurers, etc.) registered with your institution to intermediate the selling of various products to customers. For their work, the third-party entities are compensated with fees payable for each new sale, based on a pricing agreement with your institution. Distribution Management facilitates the creation and management of third-party agreements based on approvals, the linkage of contracts/ deals to third parties, and configuring the commissioning processes through dedicated menus. A third-party invoicing process also takes care of the transfer part of the payments related to these third-party entities.

Check out the dedicated release notes.

Loan Management

This release of Loan Management, formerly known as Core Banking, comes with new write-off functionality for non-performing loans, schedule recalculation for multiple interest rates on one installment, and so much more. An asynchronous mode for internal processes that use a parallel processing queuing mechanism greatly improves overall system performance. ACID improvements ensure data validity, reliability, and integrity for requests in various flows. The third-party management features were decoupled from Loan Management and are now available through our new Distribution Management solution.

One of the existing endpoints comes with a mandatory change, so make sure you read the dedicated release notes.

Subledger

This version of Subledger, formerly known as Operational Ledger, comes with improved performance.

Check out the dedicated release notes.

Utilities Package for Test Environments

This package helps you test the FintechOS banking solutions during the implementation phase of your project, using sample data. As such, you'd benefit from its content if you are a developer, a tester, a digital consultant, or a partner who works on implementing one of the FintechOS banking solutions. Check out the documentation for more.

Fintech Operating System

Task Management

This version of Task Management comes with a simplified installation process thanks to the new package structure. New features include the ability to view the queue items in the main entity context in a sliding side panel, and overall performance has been improved.

Check out the dedicated release notes.