Seamless integration of payment solutions reflects OneShield and BNY Mellon traditions of innovation in support of insurance clients
MARLBOROUGH, Massachusetts and NEW YORK, August 7, 2012 — OneShield, Inc., a global provider of flexible, enterprise-class, content-rich policy and billing core systems for property/casualty insurers, and BNY Mellon, the global leader in investment management and investment services, today announced an alliance whereby OneShield will integrate a suite of BNY Mellon's advanced ePayment solutions into the OneShield Dragon® Billing platform.
OneShield's Dragon® Billing manages the full billing lifecycle from billing instruction to close, and manages direct and agency billing across all lines of business. Automation of commissions, exception handling, promise and delinquency processing, carry forwards, write-offs and refunds are just a sample of Dragon Billing's functionality. With Dragon Billing, insurers can put customers first by providing flexible billing options, payment plans and features like tasks to help resolve customer issues quickly and easily. Under this alliance, OneShield Dragon® will be enhanced to include a seamlessly integrated suite of BNY Mellon payment solutions, including electronic payments, automated clearing house (ACH) payment processing, disbursements, and lockbox services.
"Our alliance with BNY Mellon significantly enhances the billing and accounts receivable capabilities previously available on our Dragon® platform," said Steve Forte, director of global product management and alliances. "Because of Dragon's component-based architecture, we're able to provide BNY Mellon's advanced electronic bill payment processing capabilities in a seamless manner. Our alliance with BNY Mellon is leveraging a key feature of our technology to give our clients fully integrated access to a robust array of bill payment processing solutions."
"Our alliance with OneShield moves us an important step forward in our strategic development of solutions for insurance industry clients," said Susan Skerritt, executive vice president and head of global product management and strategic development for BNY Mellon's Treasury Services group. "We've always put a premium on innovation and continuous product improvement. Now we're expanding our focus to include creative collaborations with companies whose technologies are uniquely responsive to the needs of clients in strategically important market spaces. The end result is a win for us, our alliance partners, and our clients."
OneShield has successfully delivered flexible, enterprise-class policy management, billing, rating, product configuration and business intelligence/analytic solutions to the global P&C/General Insurance industry since our inception in 1999. Based on an open, tool-based architecture, OneShield Dragon® provides companies with the ability to streamline product creation, management, underwriting and distribution. With Dragon, P&C/General insurers gain a competitive advantage that helps them improve operations and profitability while meeting increasing customer and market demands. OneShield develops innovative technology to better serve the needs of the industry and more importantly, their customers. OneShield is headquartered in Marlborough, MA and has an office in Gurgaon, India. Visit oneshield.com to learn more, or for further information contact Kim Morton, 774-348-1051, firstname.lastname@example.org.
About BNY Mellon
With locations in 34 countries on six continents and a network of more than 2,000 correspondent financial institutions, BNY Mellon's Treasury Services group delivers high-quality performance in global payments, trade services, cash management, capital markets, foreign exchange and derivatives. It helps clients optimize cash flow, manage liquidity and make payments more efficiently around the world in more than 100 currencies. Processing more than $1.4 trillion in payments transactions on a daily basis, the company is a top-five participant in both the CHIPS and overall funds transfer markets, and is a recognized leader in the delivery of private treasury services solutions for banks and other large institutional clients.
BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has $27.1 trillion in assets under custody and administration and $1.3 trillion in assets under management, services $11.5 trillion in outstanding debt and processes global payments averaging $1.4 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com or follow us on Twitter@BNYMellon.