Fineos upgrades banking and insurance platform

Fineos upgrades banking and insurance platform

Dublin-based Fineos Corporation has upgraded its banking and insurance platform to include line-of-business applications for banking, life, pensions, insurance and lending as well as an employee benefits module packaged for US insurance firms.

Each vertical solution area will be rolled out in a phased approach over the coming months.

Fineos says the latest release of its platform - version 4.0 - divides line-of-business areas into separate front and back office component software, each of which can be implemented seperately or combined for an enterprise-wide solution.

The vendor says the front office components of the product are now fully thin-client enabled, allowing firms to deliver remote support to customers, intermediaries and field staff. The front office includes Internet portals to deliver customer relationship management (CRM) as well as case management features such as automated underwriting decision-making and full-cycle support for claims, redemptions and maturities.

The back office suite contains full-lifecycle contract management applications and includes Fineos' Intelligent Event Engine for the delivery of event-based business transaction processing.

Michael Kelly, CEO, Fineos, says the package allows clients to use front and back office functionality specifically designed and tailored for their line of business.

"Because each solution is developed with a product focus, it provides clients with a lower cost of ownership as well as significant strategic benefit for ongoing solution evolution," he adds.

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