Blockchain and natural language searches join Capital One's tech agenda
25 October 2016 | 3996 views | 0
Source: Capital One
Capital One announced today that it will partner with leading digital technology providers to offer an enhanced suite of capabilities to its Treasury Management clients.
These new capabilities include a state-of-the-art claims management solution for healthcare clients, as well as natural language search capabilities for the bank’s Intellix Mobile application, part of Capital One’s digital treasury management platform.
“We’re seeing unprecedented transformation in the payments space, as rapid advances in digital technology are reimagining the client experience,” said Patrick Moore, Executive Vice President and Head of Capital One’s Treasury Management’s Product Management group. “At Capital One we see the new network models and data analytics capabilities as an exciting opportunity to reinvent treasury management to better meet the needs of clients, not only increasing payment efficiency but also generating actionable information about their business.”
Capital One’s new technology partners include:
Viewpost, a secure B2B network for invoicing, payments and real-time cash management. Capital One Treasury Management clients can connect with any trading partner and exchange electronic invoices and payments with ease and visibility, enabling them to track the status of transactions and use a built-in dynamic discounting tool to access or deploy working capital on demand.
Blockchain specialist Gem is reconceptualizing the claims management process for healthcare clients through a scalable revenue cycle management network. Blockchain technology connects the ecosystem to universal infrastructure, and shared infrastructure allows global standards that do not compromise privacy and security.
Capital One will leverage analytics developed in concert with healthcare e-commerce API provider Pokitdok that estimate the out of pocket expenses for which a patient will be responsible. The result is a dramatically more efficient claims management process that eliminates the traditional claims clearinghouse and reconciliation layers and lowers administrative costs, compresses cash flow cycles, and reduces revenue loss.
Capital One is also integrating powerful natural language search capabilities into its Intellix Mobile app. Developed by ClearGraph, they include semantic and context aware search, auto complete as well as advanced filtering. The ClearGraph partnership will drive enhanced analytics capabilities to the Intellix platform.
Capital One expects these new product solutions to launch in early 2017.