Billing And Collection 2.2.0

February 10th, 2022

Billing and Collectionv2.2.0 is compatible with the FintechOS Platform v21.2.2.2, formerly known as Core DPA Platform, which includes Configuration Management. In addition, it has a number of new features and improvements which you can read about below.

NOTE  
This is part of the FintechOS 22.w release. Please check the main release notes for more information.

What's New

New Direct Debit Flow for UK

The Billing and Collection Direct Debit functionality helps insurers to handle direct debit payment operations. Once the policyholder agreed to pay the premiums by direct debit, a strict direct debit activation procedure must be followed by the insurer in order to notify the bank about the payment arrangement and to send the necessary instructions, regularly, in order for the bank to transfer the premium money into insurer's accounts. This procedure is different for the UK financial zone, compared to the Single Euro Payments Area (SEPA). The Billing and Collection solution is now adapted to serve the UK market, also. The UK Direct Debit flow includes:

  • Instructions file generation for Direct Debit UK.

  • Generate Payments Instruction File for Direct Debit UK.

  • Processing Automated Return of Unpaid Direct Debits (ARUDD) Files.

  • Processing Automated Direct Debit Amendment and Cancellation Service (ADDACS) Files.

  • Delete a Bank Statement.

  • Client notifications for the invoice generation process.

  • Client notifications for payment confirmation.

  • Follow up client notifications for unpaid (not paid yet) invoices.

New Generate Statements API

There are cases when you need to work with your Billing and Collection data or functionalities in a way alternative to the one available as a user journey, in your FintechOS portal. This is where APIs become useful! The solution now allows you to make API calls for invoice generation. This functionality adds new billing statements (invoices) in the system, based on API requests received from other FintechOS solutions - such as Policy Admin or from third-party systems. For this interaction, the FTOS_PYMT_StatementsGenerationAPI endpoint is available. The endpoint validates the request, generates the new invoice and populates with data the relevant fields from FTOS_PYMT_Statement.

New Security Roles

New security roles now allow the users to work with the solution in a more efficient way and also get a (Undefined variable: VariabileInsurancePtRN.Solution3) experience adapted to their role, while keeping data secure across different sensitive business flows. The solution can also bundle together data views (dashboards) that are either needed more often than others or they simply have priority, in your everyday work, for your level of authority. For more details, consult the Security Roles of the Billing and Collection solution.

Minor Technical Improvements

  • Added the proposedById attribute as a configuration item in the Billing and Collection Digital Asset.

  • Integrated ABN bank statement format.

  • Import of payment confirmation, payment denied files.

  • Outgoing payment instruction files.