FTS partners with RightNow

Wednesday 14 July 2021 15:09 CET | News

Germany-based Open Banking infrastructure FinTecSystems (FTS) has announced cooperating with the legal tech RightNow

RightNow enforces legal claims by consumers, for example against insurance companies or airlines. For its new product, which is aimed at members of fitness studios, RightNow is using FTS’ digital bank information for the identification and validation of legal claims. Paying members of gyms are entitled to a refund when they are closed due to pandemic lockdowns, and RightNow aims to reimburse a majority of the fees.

If a fitness studio customer contacts RightNow, LegalTech can buy the claims, withhold a fee and pay out the majority of the contributions immediately. With its Open Banking platform, which offers an interface to over 6000 banks in the DACH region, FTS is involved in the validation and identification of legal claims during the application process. The transaction analysis in the claimant's online banking can be used, for example, to calculate the amount of the reimbursement and to prove the existence of the claim itself without the applicant having to submit manual evidence such as bank statements.

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Keywords: partnership, insurance, Open Banking, identity verification
Categories: Securing Transactions | Digital Identity, Security & Online Fraud
Countries: Germany
This article is part of category

Securing Transactions