VPay Recognized by IBM for Positive Business Disruption
By: Elisa Logan, Vice President Marketing
Today we are pleased to announce that VPay has been awarded the IBMTM
Digital Business Automation Client Excellence and Transformational Award for Positive Business Disruption.
Created this year, the IBM Client Excellence and Transformation Award for Positive Business Disruption recognizes Digital Business Automation clients who have demonstrated business agility and measurable business process improvements through the solution. In issuing the award, IBM highlighted VPay's innovative use of IBM’s Digital Business Automation Suite to develop an insurtech solution that addresses the market’s need for a transparent, secure and consumer-friendly way to process mobile claims payments.
The award was presented to VPay at IBM’s Think 2019
conference in San Francisco for its new offering that allows property and casualty insurers to give their policyholders more choices on how they receive their payments as well as faster ways to receive payments.
“At VPay, we’re committed to staying ahead of the curve and offering our customers products that not only offer a competitive advantage today, but set them up for long-term financial success for years to come,” said Jeffrey Brown, president of VPay “Mobile is the next big thing for the insurance industry – consumers are demanding a more streamlined experience and companies who don’t innovate are going to be left behind.”
Eighty percent of insurerssay evolving policyholder expectations
are driving digital innovation. But as insurers expand their digital capabilities, most of their digital offerings are lacking in core insurance-specific capabilities
—especially financial aspects of their business, such as processing claim payments.
"We’re grateful to have been an integral part of VPay’s product development strategy as the company expands to reach new industries and offer new products,” said David Knapp, president at Apex Process Consultants, the IBM Business Partner who worked with VPay to create the solution. “Mobile has been around for years, but there are still so many new uses for mobile technologies coming out every day. We’re excited to support VPay as it brings claim payment processing into the future.”
VPay facilitates billions of dollars in payments via ACH, virtual cards, direct-to debit, and checks for property & casualty and healthcare insurers. Along with HIPAA compliance, VPay has PCI Security Standards certification, SOC1 and SOC2 compliance, as well as NACHA certification.
VPay® is today’s total payment solution for claim payments for workers’ compensation and auto insurers, health plans, dental plans and third-party administrators. By reducing checks with fast secure electronic payments that simplify the reconciliation process while also eliminating processing and management costs, VPay helps companies realize unexpected and unprecedented returns. For more information, visit www.vpayusa.com.
About Apex Process Consultants
Apex Process Consultants is an IBM Business Partner specializing in solutions built on IBM BPM, IBM ODM, IBM RPA, IBM API Connect, Watson Services, and IBM Cloud (Bluemix). Our team brings real-world implementation experience across many industries including financial services, healthcare, automotive, professional retail, distribution, and state and provincial government. Since 2009 we've brought a blend of Agile development practices and best-of-breed tools to create transformative solutions with quick ROI for our demanding customers. Apex is proud to have made the Inc. 5000 list of America's Fastest-Growing Companies in both 2016 and 2017. We are headquartered in Southfield, Michigan. For more information visit www.apexbpm.com
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