Moving beyond the pain points: Improving the insurance reconciliation and payment architecture

With tens of millions of policyholders using various payment methods, different instalment options, and multiple distribution channels, matching incoming payments to their source and reconciling the respective account can be a laborious task. Collecting premiums is fundamental to underlying cash flow and liquidity, yet failed and delayed payments continue to cause issues for the insurance industry.

In this white paper, Banking Circle explores the challenges that the insurance sector is facing as a result of legacy reconciliation and payment infrastructure.

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