Ingo Money Disbursements Marketplace™

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Overview

A claim is the defining moment in a customer’s relationship with their insurer – the moment that the promise of insurance is fulfilled. Therefore, it’s crucial that the process be as efficient as possible with a seamless and user-friendly customer experience. Ingo Money, the industry leader in digital disbursements,provides a turnkey solution to help insurers expedite claims payments so consumers get the money they need, where they need it – instantly. From the moment the claimant receives your custom-branded notification to the instant their payment is confirmed, Ingo Money’s simple, customer-friendly flow will leave your policyholder with a positive experience.

Ingo Money’s full-service Disbursements Marketplace platform provides an array of disbursement services via lightweight technical integrations that feature payment choice. We offer the broadest connectivity to the widest array of payment methods with an unmatched level of transaction success, and we continue to invest heavily to extend our capabilities. Today, we have disbursed over $22B in funds, as our push payments technology enables insurers, lenders, banks, businesses and government agencies to disburse instant, safe-to-spend funds to more than 4.5 billion consumer debit, prepaid, credit, private label credit and mobile wallet accounts. We also offer ACH / RTP bank account transfers, particularly relevant to business beneficiaries, and we support both cash and paper check disbursement options for those who need or want them.

As your partner in digital payments, Ingo Money offers:

Deep Payments Experience

Our executive leaders and management teams have extensive experience in payments with leading financial institutions and financial services firms. We know payments. What’s more, we were the first company to develop a push payments platform. In 2010, we launched a retail push payments service to support in-person bill payment. In early 2013, we pushed the first domestic original credit transaction to a Visa Debit card to deliver funds instantly and irreversibly to consumer users of our mobile check cashing platform, and soon after, we began pushing payments to MasterCard. From transaction processing to risk management, compliance, security and settlement, we deliver mature, bank-hardened, regulator-approved push payments technology.

Unmatched Payment Choice and Transaction Success

A network of networks, the Ingo Payments Gateway provides connectivity to 26 network and issuer endpoints, with redundant funding capabilities to nearly every debit, prepaid and credit card, and integration to PayPal and Amazon mobile wallets and cash disbursement to MoneyGram. We fund the digital accounts provisioned in Apple Pay, Venmo and Square Cash and continue to extend our reach to platforms of scale. And while customer choice is important, transaction success is critical in order to meet customer expectations. Made possible by Ingo Money’s redundant rails and years of routing intelligence, Ingo Money’s 99.4% transaction success rate is unmatched in the industry.

Risk Management & Compliance Expertise

Insurers are in the business of risk, and the Ingo Money team are experts. For 19 years, Ingo Money has provided instant money services to banks and financial services firms, serving the most challenging consumer segments across channels and platforms. Compliance and risk management are in our DNA. We employ multivariate security and authentication techniques and offer a wide array of authentication, account verification and transaction validation capabilities. Our risk and security teams provide around-the-clock oversight to identify and mitigate ever-evolving risk.

Highly Configurable & Custom Technology Services

Payments are complicated - full of expensive compliance requirements, routing challenges and settlement complexities. Ingo Money’s fully white-label, hosted SaaS solution, the Disbursements Marketplace, allows even the largest insurers to get to market quickly with a turnkey solution. With one integration, insurers can be sure that they’ll have access to any payment type they choose now and any new digital options that may arise in the future. Ingo Money can enable new digital payment processing capabilities for every use case and channel to deliver seamless support for both recurring and ad hoc disbursements.

Large Enterprise Focus

At Ingo Money, our specialty and focus is delivering innovative, scalable technologies to large enterprise organizations and financial institutions. Our infrastructure, platforms and services are designed to bridge the gap between old payment methods and new ones, leveraging proven client processes to deliver new experiences. Our technology is state-of-the-art, but the methods for accessing it do not require mass scale reengineering and systems development. You can count on Ingo Money to tailor our platform and services to the infrastructure, processes, capabilities, servicing channels and needs of your business and use cases.

Key Features

Ingo Money’s sophisticated Disbursements Marketplace™ platform is accessible to our clients and their customers via API and iFrame integration. Designed specifically for complex enterprise disbursement use cases and seamless customer experiences, this full-service payments ecosystem features API-based disbursements origination, custom notification services, a white-label digital payment center, highly configurable workflows, integrated risk management, industry leading disbursements payment processing, integrated transaction status visibility, reporting and reconciliation services. Following is a summary of platform features and capabilities:

Workflow Configuration: Support unique claimant or vendor disbursement needs and state and local regulatory requirements with configurable, dynamic workflows that systematically alter disbursement timelines, disclosures and other elements of the customer experience to enable digital disbursements in every customer channel for every beneficiary type, nationwide.

White-Label Branding: Communication services and digital interfaces are fully white-label and can vary by line of business, payment type and/or customer segment. From layout and design to copy and tone, every line of business can make the entire digital disbursements service uniquely its own.

Customer Communications: The Ingo Money Disbursements Marketplace features a custom Notification and Transactional Communication service (email and SMS). We will install HTML email templates and custom copy to support a host of dynamically personalized communications for single-party and joint policyholders, non-customer claimants, multi-party approvers, vendors, agents and more.

User Authentication: To help protect our carriers and achieve your preferred balance between risk management and customer experience, user authentication is dynamic and can be controlled at the transaction level. With optional SSO integration, beneficiaries can also access the digital payment experience from your online and mobile platforms using existing digital credentials.

Payment Choice: The Ingo Money Disbursements Marketplace features payee choice, enabling every beneficiary to choose their preferred method of payment among those you choose to offer. Powered by the Ingo Payments Gateway, Ingo Money offers unmatched reach and reliability across real-time push-to-card, digital wallet, bank transfer and cash disbursement options, as well as instant-issue prepaid card and paper check payment methods.

Transactional Risk Management: Ingo Money leverages client, network, account issuer, third-party, device and location data sources to authenticate and validate beneficiaries, verify account status and ownership and mitigate the risks associated with real-time, digital payments. We also perform inline OFAC screening and clearing on every disbursements transaction.

Real-Time Transaction Status Visibility: Receive real-time transaction status across the entire customer journey with the following webhook event subscriptions: Notification Status, Authentication, Recipient Verification, Account Verification, OFAC Screening / Clearing, Payment Processing, Payment Termination and Payment Returns.

Reporting & Settlement: Dashboard, transactional, reconciliation and settlement reporting can be configured to support your business hierarchy and accommodate your internal settlement schedules to simplify treasury processes. Daily settlement is supported by reconciliation reports provided by Ingo Money and BAI Files provided by the treasury bank / acquiring bank sponsor.

Open APIs: Ingo Money provides everything you require for a lightweight technical integration to your claims system or payments middleware. Adding additional payment types or lines of business require no further costly integration work, and can be easily incorporated into your daily settlement and reconciliation processes.

Customer Support Services: Receive full-service transaction processing support, research and dispute management.

For more information, please go to https://biz.ingomoney.com/real-time-b2c-push-payments-for-claims/

Key Benefits

  • Get to market quickly with one simple integration to Ingo Money's turnkey platform

  • Pay the customer the way the customer wants to be paid - choice of any account

  • Boost customer satisfaction and loyalty

  • Decrease cost of paying claims

  • Decrease cycle time/claims leakage
  • Reduce payments fraud

  • Settlement and reconciliation is handled - no complex integrations or setup
  • 100% configurable - no messy customizations
  • White labeled, professional omnichannel approach instills confidence and provides ease of use
  • Future-proof - new payment types will be made available through the same integration.

Product/Service details