Guidewire TL
Follow Us
ITA MEMBERSHIP

INSURANCE TECHNOLOGY NEWS

INSURANCE TECHNOLOGY NEWS

Web Connectivity signs strategic partnership with Fennech Financial to unite the worlds of ACORD and banking and launch “enabledCash”

Bill Sinn | September 10, 2018

The worlds of ACORD messaging and banking processes will finally be united under a new initiative launched by Web Connectivity Limited (WCL) in partnership with Fennech Financial’s SaaS Digital Cash Management Platform.                      

Web Connectivity have extended their Global enabledAccounting service, by plugging into Fennech’s “Banking as a Service” platform and are now able to offer their clients a new module:enabledCash.                                           

enabledCash links transactional data held in an ACORD message with the standard Bank Statement data formats to provide an enhanced electronic bank statement that details cash at a transactional level, ensuring accurate cash reconciliation within ledgers and supporting the automation of cash matching. The service will enhance cash management capabilities, reinforce regulatory and compliance controls and remove highly labour intensive tasks for both the Broker and (Re)Insurer, and ultimately will lead to straight-through-processing of cash.

James Willison, Managing Director Web Connectivity, said today, “Electronic accounting has delivered significant benefits through the Ruschlikon initiative in recent years and formalising the link between ACORD messages and Bank accounts is a natural evolution. Digitally enabling our clients is a key aim of WCL and our partnership with Fennech Financial further enhances our capabilities”.

Emmanuel de Resseguier, CEO & Founder of Fennech Financial Ltd, added, “We are delighted to work with WCL, as the combination of our respective offers will bring significant benefits and cost savings to Insurers and Reinsurers globally with very little implementation work”.


Featured articles

Majesco RH

MT 160x600

ELECTRONIC CHAT

The Email Chat is a regular feature of the ITA Pro magazine and website. We send a series of questions to an insurance IT leader in search of thought-provoking responses on important issues facing the insurance industry.

ITA LIVE 2019

The tide is up! It's time to register for ITA LIVE 2019, our annual educational and networking conference! Our theme is "The InsurTech Revolution: Cutting Through the Hype." and we'll be bringing in a torrent of industry thought leaders, amazing insight and wonderful perspectives on the world of insurtech and its impact on the insurance landscape.

ITA LIVE 2019 will present real-life examples of true startup technologies that are helping insurers gain real advantage -- and a competitive edge -- in the marketplace. We’ll highlight the more successful InsurTech partnerships, while offering case studies that demonstrate exciting innovation and cutting-edge techniques impacting all aspects of the insurance ecosystem.

Ride the wave to LIVE 2019. Sign up today! We look forward to seeing you in May, 2019!

BLOGS AND COLUMNS

only online

Only Online Archive

ITA Pro Buyers' Guide

Vendor Views

Partner News