By FintechOS · May 12, 2022
7 minute read

FintechOS Spring Release with BNPL and mortgage features

FintechOS Spring Release - Version 22.R2

Spring has, indeed, sprung and with it, we’ve released Version 22.R2 of the FintechOS platform, complete with an update to our low-code/no-code Innovation Studio, and new tools for Open ID, retail mortgages, and data management. Let’s look over the new features.

Just as spring is about the return of life after a long winter, our latest update to the FintechOS platform is all about refreshing and rejuvenating our platform to excite and inspire digital makers as they build the future of financial services.

We’ve added a new interface for our Innovation Studio, and additional features for customer journeys and identity confirmation, as well as a new solution for retail mortgages.

Meanwhile, we’ve added better tools for third-party management, expanded features for tariff and underwriting, and a tool to help you transfer data from your legacy systems.

All of these aspects are designed to make it easier for you to create experiences that will win you lasting engagement from your customers. Each feature and many more are covered in detail below.

Redesigned FintechOS Innovation Studio

FintechOS Innovation Studio

First up, we’re delighted to present a new look for our Innovation Studio. All the usual features of our creation platform for digital makers are still present, including the Marketplace where you can find new tools and templates, our online training Academy, and our comprehensive Documentation Site.

However, we’ve heard your feedback about your need for optimal clarity, and so we’ve designed a more-intuitive interface across the login, home, and menu pages.

We’re excited to be able to make your experience of using the FintechOS platform frictionless and fast. That’s just, however, the start of the new features we have to show you.

The FintechOS solution for BNPL

FintechOS BNPL solution
FintechOS BNPL solution

Buy now, pay later (BNPL) or point-of-sale lending is a rapidly growing new paradigm in consumer payments. Creating a new BNPL solution requires merchants, checkout solution providers, and lenders to enter into partnerships built around closely integrated technology, data, and business workflow automation.

With a track record of providing BNPL solutions to leading ecommerce brands in Europe, FintechOS now offers our BNPL solution to all clients within the current platform release. Established banks and lenders worldwide can work with FintechOS to develop, roll out, and iterate differentiated new embedded finance solutions that allow them to make a strong entry in this exciting new space.

The FintechOS streamlined digital retail mortgage solution

FintechOS digital decision in principle mortgage solution
FintechOS digital decision in principle mortgage solution

We’re delighted to present our new stream-lined retail mortgage lending flow for customers. FintechOS’ new solution allows customers to fund buying a property through their bank in just a few minutes without having to visit a branch.

FintechOS mortgage calculator
FintechOS mortgage calculator

Yet, the journey to acquiring a mortgage starts long before the actual forms are filled in, and we want to empower you to offer customers support at every stage. That’s why we’ve created two mortgage simulation tools to give instant answers about what properties they can buy and how much it will cost.

Our property budget simulator will tell customers what the highest level of mortgage they are eligible for will be worth, while our mortgage cost simulator will tell them how much they will need to repay. Both these tools can be used within our platform, through desktop and mobile, and also in your toolset through an iframe. Your staff can even access them in-branch.

Once a customer knows what to ask for, our platform now allows them to gather a decision-in-principle entirely online before they decide to complete the mortgage application.

Help Center

FintechOS Help Center
FintechOS Help Center

Still, even the most savvy of customers sometimes need support with their applications. That’s why we’ve built a stand-alone customer support module that can be attached to any of our solutions, including mortgages.

This tool allows you to create an “FAQ” area of your mortgage journey where customers can post questions and receive answers from you. Then, you can moderate these questions and publish them to other customers.

Relationship manager dashboard

FintechOS relationship manager dashboard
FintechOS relationship manager dashboard

Our new relationship manager dashboard allows front-office employees to get a clear overview of the most important data about their upcoming tasks, calendar, performance, and exchange rate, as well as an integrated chat with colleagues.

This empowers employees to achieve a higher level of personalization and attention to detail without slowing their productivity. Staff can even onboard customers directly from their dashboard.

FintechOS Identity Provider

That’s the simpler interface covered, so now let’s get technical. The FintechOS high-productivity fintech infrastructure (HPFI) powers our Identity Provider to act as the default authentication layer.

The Identity Provider’s access management system is fully compliant with the OpenID standard, and includes identity brokering. This means your people can now log onto the FintechOS platform using any external identity provider that supports OpenID.

Lastly, we’ve protected your system configurations with our Secrets Management System. This adds a layer of protection to all your hard work, preventing accidental or illicit alterations to what you’ve built with our platform.

Digital journeys are now available through APIs

Next up, we’ve made improvements to the digital customer journeys you’ve created within the FintechOS platform. These are now available through Application Programming Interfaces (API), meaning you can utilize them in your own custom applications or through third-party services. This applies to both new journeys you create and those you’ve already made.

In addition, journeys now come with built-in analytics. This means wherever you access the journeys, you can view the rate of completion, average time spent on the journey, and time to completion throughout the process, so you can ensure your experience is optimized for your customers.

Additional FintechOS Lighthouse facilities

We’ve also added a refund facility to our lending options for FintechOS Lighthouse. This means funds from loans can now be automatically returned, and you can also specify conditions for contract closure. Choose whether the contract is closed manually or automatically through our platform when set conditions are met, and whether that should be done in real-time or in a set run at end of day or another time.

You can also now get warning messages about exceeded limits on products with defined parameters, and enable automated responses such as blocking or passing the product.

Lastly, we’ve added an improved single customer view with better structure for onboarding to display a full timeline of events and interactions on a per-customer basis.

FintechOS Northstar: insurtech innovation

Banking has been the main focus this month, but that doesn’t mean we’ve forgotten our FintechOS insurtech platform – Northstar.

We’ve added new configurations for tariff and underwriting types to empower you with greater flexibility in product design. We’ve also expanded our lines-of-business functionality to allow you to build your own nomenclature.

Elsewhere, our agency management feature allows the structure and rules to be configured at every level of the platform, and our core policy admin tool lets you set up automated renewal, cancellation, or mid-term adjustments for master policies.

Best of all, however, our new data import template means siloed legacy data is a thing of the past. Using the template, you can quickly transfer your data, including formulas, in bulk from anywhere to wherever you need it.

Lastly, as an added bonus, you can now draft product proposals by combining various benefits and features, so you can test new ideas before proceeding to create them in our low-code/no-code interface.

FintechOS innovation as standard

We hope you’ve stayed with us throughout that quick rundown of all the new features our latest release is offering, but that isn’t even the end of it.

For all the details of everything we’ve added to the FintechOS platform in Version 22.R2, read the full release notes.

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