FintechOS 22.S

August 5th, 2022

This FintechOS summer release comes with new digital & core blocks for Lighthouse and Northstar, as well as the High Productivity Fintech Infrastructure with a compliant ready integration with AriadNext for digital identity, identity control, document security, and digital signatures. In addition, Banking and Insurance Product Factories received updates with enhanced business capabilities.

For Lighthouse, this release brings new capabilities for Core Banking, Single Customer View, and a new Digital Mortgage Self-Service Application accelerator facilitating the end-to-end journey of contracting a mortgage.

For Northstar, two new accelerators, Pet Insurance Q&B and First Notification of Loss bring customers fast and comprehensive journeys for contracting insurance for their pets or notifying an insurer of a possible claim.

High Productivity Fintech Infrastructure

This HPFI release brings improvements to AriadNext and Products & Services Factory.

AriadNext

This new version of AriadNext is now aligned with the ETSI 119-461 regulations and ADR compliance to better facilitate video identity verification processes. Read more about this topic in the dedicated page of the user guide.

Products & Services Factory

Banking Product Factory

This release comes with changes needed to support the new Core Banking v3.3, such as automated settlement of repayment notifications, improved validations for the collection type interest rates, and the possibility to associate transaction types directly at the banking product type level.

Check out the dedicated release notes, including the Breaking Changes for APIs.

Insurance Product Factory

This new version comes with the Insured Object Type showing which object type is correlated with the insurance product. This brings increased flexibility and control over how the insurable interest is defined at product level and defining a single point of truth for the dimensions of attributes of this object type. Read more in the dedicated release notes.

Lighthouse

Digital Mortgage Self-Service Application

This release brings forth a new accelerator that enables customers to obtain a mortgage online. It includes a preliminary decision in principle, followed by formal approval, and insurance and conveyancing validation. The solution also incorporates a back-office dashboard where the underwriter makes critical decisions regarding the mortgage request. This accelerator digitizes the whole process for all involved, the applicant, co-borrower, underwriter, assessor, solicitor, while providing a seamless experience. Read more in the dedicated user guide.

Single Customer View

This release of Single Customer View comes with new improvements for the Private Individuals module. In the new dashboard, you can now view a customer's profile and navigate to specific data using interactive widgets. In addition to this, new data is displayed at the customer account level: source of funds, risk class, public function, sensitive information (politically exposed person list, terrorist list, embargo list, etc.), documents or agreements, their transactional profile, and so on. Read more in the dedicated release notes.

Core Banking

This major release of Core Banking comes with several features and improvements, such as working with multiple interest rates on contracts, turning on or off the automated settlement of repayment notifications at the contract and at the customer level, manual repayment notifications, a specialized dashboard for loan admin officers, a report for contracts that can be closed, automated processing of clawback-generating events for third-party entities, and much more.

Check out the dedicated release notes, including the Breaking Changes for APIs.

Operational Ledger

Operational Ledger supports the features that come with this release of Core Banking. We have also improved the performance for the generation of accounting entries through Operational Ledger. Read more in the dedicated release notes.

Online and Mobile Banking

This version presents a new user interface alongside the display of loans repayment schedule, a Core Banking integration, and the option to repeat payments without having to insert the details by hand for a second time. Additionally, there are security and performance improvements that make the experience stable. Furthermore, bug fixes were carried out to solve enrolment and payment issues. For more details, see the dedicated release notes.

Northstar

Pet Insurance Q&B

It’s a mobile-first customer self-service accelerator that allows retail customers to purchase a new pet insurance policy for their dog or cat. Pets are rated based on age, breed, and size for dogs. The journey allows users to take a picture of their pet and using image recognition the accelerator automatically determines the breed. The journey also includes steps like policy offer and selection, payment method and frequency, as well as document generation. It's an end-to-end accelerator for insuring pets. Read more about this accelerator in the dedicated release notes.

Pet Insurance FNOL

The new Pet Insurance First Notification of Loss (FNOL) accelerator is a mobile-first customer self-service journey that allows retail customers to notify an insurer of a possible claim. The journey takes the user through a series of steps, including identifying the customer and matching the policy, providing pet details, or receiving a claim registration confirmation. Read more about this accelerator in the dedicated release notes.

Billing and Collection

This version comes with an improvement to broker payment returns. Whenever a broker payment is returned, the outgoing payment request has the beneficiary type and category already filled in. In addition, an update was made to invoice generation for master policies with DIDE payment type: if the reference number for a mandate represents a master policy number, then the invoices generated include the installments from all the single policies within the specific master policy. Read more in the dedicated release notes.

Core Policy Admin

Master policy renewal offers are now available, an offer for renewal or a new policy prior to the existing one's expiry date can be automatically generated. In addition, the insured object types defined for the insurance product can be used, such as policy generation, policy form or renewal. The new policy type data mapping can be used for calculated premium amounts and underwriting rules are available for master policy mid-term adjustments. Read more in the dedicated release notes.

Proposal Configurator

This version comes with formula and product versioning so that any changes made are well tracked. In addition, card versioning has been improved and the card name can be automatically sent as a parameter to the formula for calculating the premium per coverage tariff. Read more in the dedicated release notes.

Claims Admin

This solution is now compatible with FintechOS 22.S. Read more in the dedicated release notes.