Evitec Solutions Life Payments
Evitec Solutions Life Payments (ES Life Payments) is a high-performing fully automated solution for paying out insurance claims, pensions, and other payments. The solution includes crisis management functions, managing partial payment data, for example in the form of missing beneficiary or payment receiver details, handling exceptional cases and corrections where the payment or tax card is wrong or back-dated corrections are needed.
ES Life Payments is a solution for Nordic insurers, occupational pension companies, unemployment funds and others. It is designed to handle large transaction masses and it fulfils the demands of a business and society critical system.
With ES Life Payments you can manage beneficiaries, tax cards, beneficiaries’ shares, payment receivers and claim reserves throughout the entire pay-out period.
ES Life Payments is compliant with the Finnish occupational pension data and reporting model. The solution supports managing the pension structure in Finland, its benefits and inter-pension company-related money balancing and reporting processes.
Comprehensive set of BI tools and packaged reporting modules can be integrated to the solution.
Benefits
- Fully automated payment process
- Real-time access to up-to-date payment data in self-service portals and internal dashboards
- Payment processing hub capable of combining payments from multiple sources
- Payment splitting and management of partial payment receiver information
- Rapid customer service via access to centralized payment data
- Key hub for business reporting
- Wide support for manual corrections and tasks in case of troublesome payments
- Compliant with EU regulation and local national regulatory reporting
Key figures
- Powerful solution for managing beneficiaries, payment receivers, and related payments. P27 and SEPA payment ready.
- Flexible solution to manage payments, even when incomplete data is only available
- Printouts, taxation, reporting, and bookkeeping covered
- Modern service API’s available for including payment data and services, like updating account numbers, to self-service portals
- Comprehensive abilities for manual tasks and corrections in resolving cases needing attention
- Comprises an inbuilt task management system
- Offers full audit trail for the entire payment process
- National incomes register (Finland) and GDPR compliant
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