FintechOS 22.w

February 10th, 2022

FintechOS introduces the latest major release, FintechOS 22.w, bundling improvements for Lighthouse and NorthStar solutions, Ecosystem Connectors, and FintechOS Platform.

The FintechOS 22.w release is built on the latest High Productivity Fintech Infrastructure (FintechOS Platform) version. FintechOS Platform was formerly known as Core DPA Platform, and it includes Innovation Studio, Portal, and all other services that make up the foundational layer of FintechOS’s platform.

Below you can find a brief description of the new capabilities. Follow the dedicated links to read detailed release notes for each.

Lighthouse

SME Mobile Onboarding

This new Accelerator provides a simple digital journey for small and medium-size company bank account opening. This onboarding journey provides a great starting point for banks and credit unions to implement a modern UX rapidly and easily configure any details of design, content, journey sequence, and product logic. Read the user guide here.

SME Mobile Lending

SME directors want financing solutions that allow them a decision in minutes, not days. With self-service and rapid decision-making in mind, we’ve prepared a readymade mobile-accessible SME loan origination journey. As with all our Accelerators, the details of the journey are easily configurable in advance of launching new products and as modifications once the solution is in production. Read the user guide here.

Core Banking

This release brings a series of new features for Core Banking v3.1. Custom repayment plans can now be added to contracts for cases when the existing Core Banking logic is not compatible with the desired schedule. New role-based limit capabilities allow you to manage limits for different customer roles, such as merchants. Read more about this in the release notes.

Operational Ledger

This version of Operational Ledger was released to be fully compatible with the latest version of FintechOS Platform. Read more about this in the release notes.

Online and Mobile Banking

This solution allows individual or business users to access and manage their financial products whenever they need, from anywhere, completely self-service through a modern user interface and seamless UX. Access banking services online and mobile, services such as transactions, i.e., utility and bulk payments, view the balance and details about accounts, loans, and term deposits, communicate with the bank, and more. Read more about this in the release notes.

NorthStar

Accelerators

Pet Insurance

The new Pet Insurance accelerator speeds up the process of bringing to market a self-service quote and buy process – initially focused on getting a quote for cover for cats and dogs, with a readymade mobile UX. Read the user guide here.

Core Insurance Master

Core Insurance Master is now compatible with the latest FintechOS Platform version and brings several minor technical improvements which are detailed in the release notes.

Proposal Configurator

Proposal Configurator v1.2.0 is enriched with server-side script libraries containing functions to check configuration, read data from entities, interact with the Proposal Configurator settings, and check multiple values. Read more about this in the release notes.

Core Policy Admin

Core Policy Admin v3.2.0 introduces the automatic renewals feature, to be enforced at the end of the policy period based on three scenarios where the system automatically generates renewal offer policies for those which are due to expire.

Another new feature is automated lapsing. Lapsing is enforced at the termination of an insurance policy due to the insured’s failure to pay the premium. This process is now performed automatically.

In addition, the solution introduces security roles, customer notifications, and generic pro rata parameters. Read more about this in the dedicated release notes.

Billing and Collection

This latest version of Billing and Collection v2.2.0 comes with a new Direct Debit flow for the UK market. This version also introduces a new Generate Statements API, improved menu experience, and security roles for keeping data secure across different sensitive business flows. Read more about this in the release notes.

Core Claims Admin

Core Claims Admin v2.2.0 comes with newly added security roles that are used to protect sensitive data and configure various organization layers to allow for better communication, collaboration, or reporting. Read more about this in the release notes.

Reinsurance Admin

Reinsurance Admin v1.0.0 comes with the standard reinsurance flow for managing reinsurance contracts. A new dashboard is now available for adding new forms and viewing existing records. Read more about this in the release notes.

Life and Health

This release introduces the quote flow and agent management functionalities for the Life and Health solution. In addition to this, a new portal profile is available, specially designed for life and health processes. Read more about this in the release notes.

High Productivity Fintech Infrastructure

Products & Services Factory

Banking Product Factory

In addition to changes supporting the Core Banking 3.1 version, such as mandatory roles defined at the banking product level, which aid the role-based limit capabilities in Core Banking, Banking Product Factory 3.1 comes with an updated collection of APIs. Read more about this in the release notes.

Insurance Product Factory

The latest version of Insurance Product Factory v4.3 comes with the possibility to bulk import existing insurance product definitions, as well as adding multiple types of product data to the environment.

The new cloning functionality allows data to be replicated from an original product into a new one, destined for the same type of audience but in a different geography.

Read more about the latest version of Insurance Product Factory in the dedicated release notes.

Connectors

This release introduces two new connectors that can be easily integrated into a customer journey based on your business requirements. The connectors can be downloaded from the FintechOS Marketplace.

Siwalu

Cat, dog, and equine insurance policies are usually priced differently according to the pet’s breed. This connector offers a readymade integration with the recognition service Siwalu to search databases based on an uploaded picture of the pet. It can predict the pet’s breed name and identify its species: dog, cat, or horse. Read the user guide here.

Experian

Experian is a credit bureau that collects and researches credit information in order to rate an applicant’s creditworthiness and their ability to pay back a debt. This connector can retrieve information from multiple databases such as customer personal information, loan account summaries, bankruptcies records, previous credit checks, commercial credit and risk information, director or owner information and credit scores, and so on. Read the user guide here.

Connectors Improvements

Starting with this release, the following connectors are compatible with the latest FintechOS Platform version: Companies House, LexisNexis, Ideal Postcodes, KeysFin, Dun & Bradstreet.