FintechOS, a global technology provider for banks, insurance companies, credit unions and other financial services companies, today announced the release of its new FintechOS 22 product.
FintechOS 22 integrates integrated digital and core business blocks with no code / approach, cloud-native, data-based core architecture, enabling institutions to update older systems and launch new, diverse digital products faster. , More effective and more effective.
Many financial services providers have launched digital transformation projects. However, 70% of these projects have not achieved their goal of digital transformation and suppliers are virtually unprofitable for investment (BCG, 2021). FintechOS helps financial service providers overcome these barriers by building, testing, and evaluating new digital products and services over months. At FintechOS 22, the company is introducing its first ‘High Productivity Financial Infrastructure Platform’, which makes it easy for internal teams to start digital projects without significant input or specialized knowledge.
Forum upgrades for banks include the following
· Buy new vertical, top-to-bottom as now as you can and buy solutions divided into payment loans, overdrafts and credit institutions.
UX trips ready for digital bank accounts, including first-time loans, personal loan applications, disbursed payments, and SME Bank.
Links to exploit API information sources, including LexisNexis Bridger Insight, Companies House and Postal Database.
Platform upgrades for insurance providers include the following
· Personal Health Insurance Self-Service Prices & Purchases, Property and Victims Initial Notice, Clear Policy Version History Monitoring, Multi-Policy Contracts UX Trips.
· Improved proposal structure allows organizations to provide more personal coverage to applicants, create automated rules for issuing submission cards, and comply with mandatory requirements from IDD (Insurance Distribution Guide) and FNA Requirements DN (Interest and Interest Test) and consulting.
FintechOS is also launching FintechOS Academy to help its clients and implementation consultants learn how to create and edit financial products separately from IT teams. This self-service model reduces overloaded internal software development and IT teams’ reliance on change requests.
FintechOS 22 is supported by four main pillars:
Flexible Digital CX – UX and ready to make customer trips on customized passenger, banking, credit, insurance and claims to increase engagement.
· Essential Business Opportunities – A straightforward set of prefabricated units, from loans to insurance, quickly integrates with third-party ecosystems to enable existing institutions to develop existing, state-of-the-art innovations and market their time.
· Enabling the makers’ community – The FintechOS platform is built for developers’ digital makers’ in their institutions and integration partners. Innovation Studio, combined with the academy and the marketplace, allows non-technical teams to create and launch truly personalized products and customer trips.
· Cloud: Indigenous, Infrastructure Information – This will make significant improvements in software development lifecycle management and ensure operational efficiency, control and data-based personalization in all products, services and experiences provided.
“Financial institutions often start digitalization strategies only to replicate the technological potential of their competitors,” said Theo Blidarus, CEO and co-founder of Fintech. “This burden is exacerbated by the high level of technical knowledge and financial commitment that companies need to renew their wheels every time a new product is created.
“But this is just the beginning. As Embedded Finance begins to adjust our markets and blur the lines between suppliers, industries and technologies, financial service providers need to change. They need to be able to quickly build new and unique products that can be easily integrated with third-party offerings. And this can only be achieved through a highly productive financial infrastructure and a low-code innovation approach. According to Blidares, the era of IT-centric monolithic technology architecture must end.