FintechOS Updates Platform to Increase Fintech Productivity

FintechOS 22 enables financial service providers to accelerate digital projects without high levels of technological expertise and investment

New features include ‘Buy Now, Pay Later’, split payment loans, overdraft and credit facility options for end customers, and new mortgage products.

The platform pioneers “high productivity financial infrastructures” for financial institutions struggling with digital transformation projects

FintechOS 22 launches at FintechOS Leap (2sd-4e November), the company’s annual three-day virtual event showcasing successes, challenges and best practices in financial innovation.

LONDON, November 2, 2021 / PRNewswire / – FintechOS, a global technology provider for banks, insurers, credit unions and other financial services companies, today unveiled the latest version of its FintechOS 22 product. FintechOS 22 combines digital and business blocks Composable basics with a no-code / low-code, cloud-backed approach – data-native architecture at the core, which enables institutions to modernize existing systems and launch new differentiated digital products faster, more efficiently and more efficiently .

Many financial service providers have embarked on digital transformation projects. But 70% of these projects do not meet their digital transformation goal and suppliers have virtually no return on their investments (BCG, 2021). FintechOS helps financial service providers overcome these barriers so they can create, test and scale new digital products and services in weeks rather than months. With FintechOS 22, the company offers the first “high productivity financial infrastructure platform”, making it easier for internal teams to launch digital projects without the need for significant resources or specialized knowledge.

Platform updates for banks include:

  • New end-to-end vertical solutions such as Buy Now Pay Later and split payment loans, overdrafts and credit facilities.
  • Out-of-the-box UX pathways for first-time home mortgages, personal loan applications, split payments, and integration for digital bank accounts, including SME banking.
  • Connectors to leverage API data sources including LexisNexis Bridger Insight, Companies House, and postal address databases.

Platform updates for insurers include:

  • Pre-defined UX paths for self-service quotes and purchasing personal health insurance, first loss notification in the event of a loss, transparent tracking of policy version history, multi-policy contracts.
  • Enhanced Proposal Configurator allows companies to create automated rules to provide more personalized coverage to applicants, presented in the form of offer cards, and facilitates compliance with IDD (Insurance Distribution Directive) and FNA or DNT (Demands and Demands) requirements. Needs Test) and counseling are required.

In addition, FintechOS launches FintechOS Academy which allows its clients and implementation consultants to learn how to create and edit financial products independently of IT teams. This self-service model alleviates reliance on overworked internal software and IT development teams for change requests.

FintechOS 22 is based on four main pillars:

  • Composable digital CX – Out-of-the-box customer journeys for onboarding, banking, loans, insurance and claims that can be easily personalized to drive user experience and engagement.
  • Basic business skills – Predefined vertical components, ranging from loans to insurance, with faster integration into third-party ecosystems, allow institutions to adapt existing and cutting-edge innovations and accelerate time to market.
  • Create a community of creators – The FintechOS platform is designed for manufacturers: “digital manufacturers” within institutions and their integration partners. The Innovation Studio combined with the Academy and the new Marlet enables non-technical teams to create and launch truly personalized products and customer journeys.
  • Cloud native, data at the heart of the infrastructure – This brings major improvements in the management of the software development lifecycle and ensures operational efficiency, regulatory compliance and ensures that data-driven personalization is built into all products, services and experiences offered.

Too often, financial institutions embarking on a digitalization strategy find themselves tasked with replicating the technological capabilities of their competitors just to catch up, ”said Teo Blidarus, CEO and co-founder of FintechOS. “This burden is compounded by heavy technical and financial knowledge. commitment that organizations have had to make and then have to reinvent the wheel every time a new product is created. With FintechOS 22, institutions can finally overcome these inefficiencies and develop truly personalized products based on their clients’ needs. “

” But this is only the beginning. As integrated finance begins to reshape our markets and blur the lines between providers, sectors and technologies, financial service providers must change. They must be able to quickly create new and differentiated products that can be easily integrated into third-party offerings. And this can only be achieved through a high productivity financial infrastructure and a low code innovation approach. The era of monolithic, IT-centric technology architectures must end, ”concluded Blidarus.

FintechOS 22 launches at FintechOS Leap (2sd-4e November). FintechOS Bond is the annual three-day virtual event that showcases successes, challenges and best practices in financial innovation. The event features over 60 leading speakers and over 1,000 industry professionals attend.

About FintechOS

FintechOS is driving a paradigm shift in the way financial products and services are created by making banks and insurers truly customer-centric.

We consolidate critical data from multiple sources, such as existing databases and ecosystem APIs, and this rich data insight is automatically integrated into every step of the customer journey to create truly personalized offers. Our technology integrates seamlessly with existing IT systems, and our low-code tools quickly enable organizations to design valuable customer experiences.

These capabilities allow our customers to tailor their products, services and interactions to a single segment, increase ROI and reduce time to market.

FintechOS Lighthouse is designed to create end-to-end banking customer journeys for the future – it enables the delivery of smarter, more personalized products and services. Built-in features and reduced code allow organizations to quickly create value. Move away from existing systems or keep them in place – anything is possible.

FintechOS Northstar, our customer-centric insurance platform, enables insurers to deliver smart products and services, at a faster pace. Our platform makes continuous innovation and rapid time to market a reality. At the same time, it cuts costs through end-to-end digital customer journeys and increased efficiency.

The FintechOS Innovation Studio opens access to innovation through a low code framework. It’s a space where your non-technical teams can create and launch personalized products and journeys, all data-driven and powered by automation.

Over 45 institutions operate on FintechOS, including Erste Bank, Societe Generale, Scotiabank, Howden Group Holdings, Vienna Insurance Group and many more. Our reach spans 20 markets and four continents. We feed the institutions that manage more than $ 100 billion in assets and have offices in London, Amsterdam, New-York and Bucharest.

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