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Fintech focus: Aon Benfield to offer AI-driven tools to US workers comp insurers

Several players within the financial technology arena introduced new products and entered into various agreements in recent days. Please send news tips and feedback to news@snl.com. For other recent financial technology news, click here.

Banking, lending and payment

CorVel Corp. launched Symbeo, an automated processing and payment platform.

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ACI Worldwide Inc. rolled out UP Real-Time Payments Solution, which will allow financial institutions to address their real time gross settlement, SWIFT messaging and real-time payments needs.

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NCR Corp. entered into an agreement with Lebanon-based Bank Audi, under which Bank Audi will add ATMs to its fleet, comprising of the NCR SelfServ 82 and NCR SelfServ 84.

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Home Point Financial Corp. entered into a partnership with SafeboxIQ, an automated mortgage document submission platform, which digitizes loan files, identifies missing documents and notifies appropriate parties when documents are due or missing.

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U.K.-based TSB Bank signed a five-year contract with NCR, pursuant to which NCR will provide managed services for the ATM network of TSB bank, comprising ATMs from NCR and other vendors.

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ProPay, a Total System Services Inc. company, launched merchant solution for small businesses, e-commerce and direct selling companies in Australia. Through the platform, payment facilitators, direct selling companies, micro merchants and distributors in Australia can now accept credit cards anytime and anywhere.

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Mortgage software solutions provider CalyxSoftware partnered with Quicken Loans Inc.'s division Quicken Loans Mortgage Services to power its Quicken Loans Origination system.

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SoFi launched Medical Resident Student Loan Refinancing product, an extension of its student loan refinancing offering for medical residents and fellows.

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ACI Worldwide Inc. and European clearing and settlement systems STET entered into an agreement to deliver an end-to-end real-time payments solution to payment services providers across Europe.

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Pegasystems Inc. announced the integration of facial recognition and identification capabilities within its Pega Know Your Customer and Pega Client Lifecycle Management applications. The release allows banks to stay compliant with latest regulations.

Insurance and healthcare

Premier Inc. announced that more than 200 hospitals and health systems have joined its QUEST 2020 collaborative, which provides compliance, improvement and specialized support networks.

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Hanover Insurance Group Inc. selected Insurity Inc.'s Policy Decisions Evolution as a platform for its commercial insurance processing. The company will also leverage Insurity's regulatory services and bureau content specialists.

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Fremantle Hospital selected Allscripts Healthcare Solutions Inc.'s Allscripts BOSSnet EMR to support the hospital's transition from paper to electronic medical documentation workflows.

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The Fiona Stanley Fremantle Hospital Group will add Allscripts Healthcare Solutions' BOSSnet Results and BOSSnet Orders modules to their BOSSnet EMR platform.

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Aon Benfield partnered with Santa Clara, Calif.-based CLARA Analytics to offer artificial intelligence tools to U.S. workers compensation insurers. Aon Benfield is a unit of Aon Plc.

Marketing and analytics

Workday Inc. made available Workday Prism Analytics.

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The data & analytics division of Black Knight Inc. introduced Servicing Analytics Suite, a solution that leverages three Black Knight analytics products, Dialer Optimizer, Prepayment & Default Scores and Lien Alert, to help servicers identify portfolio risk and create loss mitigation strategies.

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Admiral Group Plc selected Moody's Analytics economic scenario generator for market risk calculation as part of their Solvency II Internal Model, and will also use it for investment modelling and stress and scenario testing. Moody's Analytics is a unit of Moody's Corp.

Administration and security

Imperva Inc. expanded its network and investment in second-generation distributed denial-of-service attack mitigation technology, introducing 10-second DDoS mitigation service level agreement to minimize business disruption in the event of an attack.

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Fair Isaac Corp. upgraded its FICO Enterprise Security Score, which gives subscribers the ability to assess the cyber breach risk of their organization and their partners.

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XL Catlin is offering its primary cyber and technology insurance clients in the U.S. a 90-day free trial of security as a service from Clarium Managed Services. Clarium will provide the services through a download process to XL Catlin clients. XL Catlin is the global brand used by XL Group Ltd.

Data and information management

Equator, an Altisource Asset Management Corp. business unit, announced two contracts with Trinity Financial Services and Trojan Capital, allowing the customers of the two entities to utilize Equator PRO REO product, which streamlines default management.

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Workday delivered its cloud-based Workday Data-as-a-Service on Workday Benchmarking, the company's DaaS offering that provides metrics to customers seeking a better understanding of their firm's relative performance in comparison to peers.

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Brunswick Corp. selected Mitratech's enterprise legal management solution to improve operations within its legal department. Mitratech is a provider of legal, compliance, and operational risk software solutions.

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Pegasystems launched Robotic Accelerators to help customer service agents automate some of their tasks.

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Admiral Group Plc selected Moody's Analytics economic scenario generator for market risk calculation as part of their Solvency II Internal Model, and will also use it for investment modelling and stress and scenario testing. Moody's Analytics is a unit of Moody's Corp.

Trading and investing

Thomson Reuters Corp. introduced Fixed Income Callouts, an app on the Eikon platform that facilitates the negotiations and agreements of fixed-income bond trading terms within banks in the U.S. and across African markets.

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Schwab Stock Plan Services and Certent collaborated to enable Certent's clients to integrate their stock plan administration with Schwab's brokerage capabilities and participant experience. Schwab Stock Plan Services provides equity compensation plan services and other financial services to corporations and executives through Charles Schwab & Co. Inc.

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