Cash & Liquidity ManagementCash ManagementCapital One is adding new FinTech tools to treasury management

Capital One is adding new FinTech tools to treasury management

Capital One is partnering with new financial technology (FinTech) firms, including Gem and ClearGraph, to offer enhanced capabilities to its treasury management clients in Q1 2017.

New capabilities that Capital One is testing for its upgraded treasury management service include a state-of-the-art claims management solution for healthcare clients and natural language processing (NLP) search capabilities for the bank’s Intellix Mobile application.

The enhancements will go live on Capital One’s digital treasury management platform early next year, provided the present trials and installation proceed without any hitches.

“We’re seeing unprecedented transformation in the payments space, as rapid advances in digital technology are reimagining the client experience,” said Patrick Moore, head of Capital One’s treasury 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 businesses.”

Capital One’s new technology partners include:

  • ClearGraph: Capital One is integrating powerful natural language processing (NLP) search capabilities into its Intellix Mobile app. Developed by ClearGraph, they include semantic and context aware search, auto complete and advanced filtering technology. The ClearGraph partnership will add enhanced analytics capabilities to the Intellix platform.
  • Gem: Blockchain specialist Gem is re-conceptualizing the claims management process for healthcare clients through a scalable revenue cycle management network. Blockchain technology connects the ecosystem to a universal infrastructure, and shared infrastructure that allows global standards but do not compromise privacy and security.
  • Pokitdok: Capital One will use analytics that estimate the out of pocket expenses for which a healthcare patient will be responsible. The tool has been developed in concert with healthcare e-commerce application programming interface (API) provider Pokitdok The result is a dramatically more efficient claims management process that eliminates the traditional claims clearinghouse and reconciliation layers. It should lower administrative costs, compress cash flow cycles, and reduce revenue loss.
  • Viewpost: Viewpost is a secure business-to-business (B2B) network for invoicing, payments and real-time cash management. Thanks to the technology Capital One’s treasury management clients will be able to connect with any trading partner, as well as exchange electronic invoices and payments with ease and visibility. The tool should enable clients to track the status of transactions and use a built-in dynamic discounting tool to access or deploy working capital on demand.

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