FinVision: FinTechOS launches ‘Lighthouse’ transformation platform

By Sunniva Kolostyak

Digital transformation specialist FinTechOS is launching its new product FinTechOS 21, a ‘Lighthouse’ tool providing an end-to-end digital financial services and data-driven platform through self-service and no-code.

Launched on the last day of FinVision, the provider’s own conference, FinTechOS 21, nicknamed Lighthouse, is a banking and insurance product factory, providing an enhanced journey designer, UX acceleration for rapid prototyping and hybrid data models and ecosystem connectors.

Teodor Blidarus, Co-Founder & CEO of FinTechOS, said digital transformation should be completed with a top-down approach – whether it is accounting, savings, lending, mortgages, insurance, or pensions.

Presenting the product, Blidarus said: “FinTechOS is the first platform to offer you end-to-end capabilities, in a nutshell, so you can easily start with the customer engagement, digitise what matters most to your customers. Tap then into what we call customer 360 Intelligent Automation, focus on those core processes around underwriting, origination, workflow, KYC, claims, and many more.

“For the first time, we will provide you with capabilities around what we call a lean core: bits and pieces that are automating contract and policy administration, loan admin, GL, midterm adjustments and restructuring of contracts, so that effectively, you can bundle and create your services as embedded and channel-agnostic services.”

Explaining the functionalities of Lighthouse, Catalin Dediu, Product Management Director at FinTechOS, said the firm wanted to make sure that the tool is not about how cool the features are, it is about the quality customer experience the features deliver, well-functioning technology, security, and DevOps.

“We believe all those components should be carefully built with data at the core. What data at the core means is not just having a centralised data lake or data warehouse, it also means tapping into the API ecosystem, it means having the ability to pull together data from FinTechOS, from other legacy systems in a bank or an insurer, as well as from third-party data and solution providers, and orchestrating all of that data together within one streamlined solution.

“And last but not least, we believe all of this should be accessible no code,” Dediu added.

Yesterday, Blidarus hinted at the launch of the new solution during a panel on the state of the insurance industry. He then said companies tend to look at transformation in silos, without a coherent strategy looking at the bigger picture.