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Financial Services: Rapid Auditing Capabilities [Video]
In today’s financial services landscape, organizations are expected to process massive volumes of data with speed, accuracy, and transparency. Auditing, in particular, plays a critical role in maintaining trust, ensuring compliance, and delivering fair outcomes for customers.
This short video highlights how Verus Financial transformed its auditing capabilities by modernizing its analytics environment. By combining advanced analytics platforms with expert guidance, the organization achieved faster insights, higher accuracy, and improved operational efficiency without compromising data integrity.
The problem
Verus Financial specializes in analyzing millions of financial records to identify unclaimed assets and return them to their rightful owners. This work requires extremely high levels of accuracy, as even minor errors can impact customer trust and regulatory compliance.
As data volumes increased, Verus Financial faced a significant challenge:
How can millions of records be analyzed quickly and efficiently while maintaining consistent accuracy and audit quality?
Traditional auditing approaches struggled to keep pace with growing datasets. Analysts spent too much time validating data, running manual checks, and reworking reports. This slowed decision-making and limited the organization’s ability to scale operations effectively.
To continue serving customers better and faster, Verus Financial needed a more advanced, data-driven approach to auditing, one that could deliver reliable insights at speed.
The Solution
To address these challenges, Verus Financial implemented IBM InfoSphere and IBM SPSS software as part of a modern analytics and data quality strategy.
These platforms enabled the organization to:
- Process large and complex datasets more efficiently
- Improve data quality and consistency across audit workflows
- Apply predictive analytics to identify trends and anomalies
- Reduce manual effort through automation and advanced modelling
- Support faster, more confident audit decisions
By leveraging these tools, Verus Financial moved away from slow, manual auditing processes toward a scalable, analytics-driven model. This shift allowed teams to focus on higher-value analysis rather than repetitive data validation tasks.
The role of Prolifics
Prolifics played a key role in ensuring the success of this transformation by bringing deep experience in predictive analytics, data quality, and enterprise data platforms.
Rather than focusing solely on technology implementation, Prolifics adopted a strategic, long-term approach that aligned analytics capabilities with business goals.
Key contributions included:
- Architecting predictive analytics models to improve audit accuracy and consistency
- Strengthening data quality frameworks to ensure reliable and trustworthy outputs
- Acting as a strategic advisor across current initiatives and future analytics roadmaps
- Providing coaching, mentoring, and in-depth technical training to internal teams
This hands-on support helped Verus Financial build internal expertise while ensuring the analytics environment could evolve with changing business and regulatory needs.
The Results
The impact of the solution was immediate, measurable, and sustainable. By modernizing its auditing capabilities, Verus Financial achieved significant improvements across accuracy, speed, and efficiency.
Key outcomes included:
- 99% audit report accuracy, strengthening trust and compliance
- Audit iterations increased from 3 to 30 per week, enabling faster insights and decision-making
- Analyst training time reduced by 14 months, accelerating productivity and lowering operational costs
These results demonstrate the value of combining advanced analytics technology with expert guidance and strong data governance practices.
Why It Matters for Financial Services
For financial services organizations, rapid and accurate auditing is no longer optional. Customers, regulators, and stakeholders expect transparency, accountability, and timely outcomes.
This case highlights how predictive analytics and data quality solutions can:
- Improve audit reliability at scale
- Reduce operational bottlenecks
- Enable teams to work smarter, not harder
- Deliver better customer outcomes faster
It also reinforces the importance of partnering with experienced advisors who understand both the technical and business aspects of enterprise analytics.
Watch the Video
See how Verus Financial achieved rapid auditing capabilities in action.
Portland State University Streamlines Budgeting and Controls Costs
Answers in Analytics: Portland University Success Study
Problems:
- How to streamline budgeting
- How to control costs
- How to increase student retention
Solution
Portland State University implemented IBM Cognos BI and TMI for control over finances and student retention.
Results
- Portland State University now has deeper insight into budgeting and student performance;
- It can manage finances to keep tuition costs low.
The role of Prolifics
- Prolifics helped PSU structure and automate the university-wide budgeting process;
- Prolifics automated integration of Ellucian banner data;
- Prolifics extended the solution to include enrollment and tuition revenue planning.
“Prolifics was able to take a budgeting system which was inadequately designed and turned it into a fully functional system which is user friendly, much easier to maintain and incorporates best practices.”
– Robert Naranjo, Business System Analyst/Programmer, Portland State University
Verus Financial: Innovating the Life Insurance Industry
Description
Verus Financial is innovating the way insurance companies are measured to meet the expectations of their policies and, most importantly, their clients. Trust comes at a cost, and when you are purchasing life insurance, you want to be sure that the money you leave behind falls in the right hands.
Enter Verus Financial, who developed a sophisticated approach to ensure that a life insurance policy is paid appropriately, and that if no heir remains, the funds are paid back to the state where the policy is held. This approach, which began as a small grassroots effort, has ballooned into a profitable business model. Verus is now planning to partner with each state to ensure that taxes are being corrected accurately. Verus is creating a new business to measure businesses and individuals and audit taxation records to ensure each state is collecting taxes in an optimal fashion.
Transcription
Peter Lee, CTO/CIO of Verus Financial:
The name of the game for us is really to detect, identify, document and follow up all the compliance events so we’re sort of doing forensics work if you will. We actually analyze millions and millions of records. So the only way we can do that is using data analytics IBM has been the business enabler and the foundation for Verus Financial and that is not a…that’s really not a commercial statement. That’s the truth.
We use the IBM software to prepare the data, we run through the statistics, we analyze the data, we detect patterns, we detect abnormal situations or simply normal events or data and so all of those capabilities allow our analysts being able to do their job better and we also can do a much deeper analysis. Prolifics, really I can’t say enough good things because they’re very responsive, they deliver what they say they would and are very helpful. Really, we see them as an integral part of our business planning. For me for example, every technical purchase, every project we, do we involve them.
Prolifics Places 13th in World HRD Congress’s 2017 “Dream Companies to Work For” Rankings
Mumbai, IN — Prolifics has been named one of the elite “Dream Companies to Work For” at the 25th annual Times Ascent World HRD Congress.
Prolifics was one of 15 companies honored with this recognition and trophy, out of over 750 India-based nominees. The award cements Prolifics’ place as a preeminent employer that utilizes a global delivery model to create top-quality solutions for clients around the world.
“I am delighted that Prolifics has received this well-deserved award,” said Mark Nechita, Head of Global Human Resources for Prolifics. “This is a testament to our people, who are the key to our success. Without their passion for our clients, we would not be able to achieve the consistent results that have made Prolifics a leading solutions provider.”
The World HRD Congress, sponsored by human resource development and employment opportunity periodical Times Ascent, celebrated its 25th anniversary this year. The event, which encompasses all elements of human resources, saw 208 speakers across 90 sessions, with over 1,400 business leaders in attendance. The awards honor organizations that produce tangible business results through innovative initiatives that promote better HR practices.
About Prolifics
Prolifics creates a competitive advantage for organizations around the world by implementing customized, end-to-end IT solutions that achieve business success, leveraging leading technologies in a global delivery model. For more than 35 years, the company’s technology expertise, industry-specific insights and certified technology accelerators have transformed organizations around the world by solving complex IT challenges. For more information, visit Prolifics.
Prolifics Receives IBM Cloud Transformation Innovation Business Partner Award at InterConnect 2017
Calabasas, CA — Prolifics, an award-winning global technology solutions provider, has been honored once more with the IBM Cloud – Cloud Transformation Innovation Business Partner Award. This recognition, which highlights an IBM Business Partner’s outstanding growth and performance, solutions, and deep expertise, was presented at the IBM InterConnect 2017 Conference in Las Vegas, Nevada.
“Prolifics is honored to receive this important award,” said Sam Ourfalian, President of Prolifics. “The Cloud is a powerful enabler in the technology landscape today. As early adopters, we embraced the Cloud and the role it can play in innovation with our clients. Prolifics is proud to be recognized by IBM as leaders in Cloud and we look forward to building many more industry leading Cloud based solutions for our clients in the future.”
The Cloud Business Partner Award is just one of many accolades Prolifics has received from its valued partners at IBM. In 2017 alone, Prolifics achieved Platinum Partner Status as part of IBM’s Cognitive-focused PartnerWorld program, which honored Prolifics’ proven capabilities in guiding digital transformations, as well as the 2017 Beacon Award win for Outstanding Software as a Service Solution and Beacon Finalist for Outstanding Solution Developed on Bluemix.
About Prolifics
Prolifics creates a competitive advantage for organizations around the world by implementing customized, end-to-end IT solutions that achieve business success, leveraging leading technologies in a global delivery model. For more than 35 years, the company’s technology expertise, industry-specific insights, and certified technology accelerators have transformed organizations around the world by solving complex IT challenges. For more information, visit Prolifics.
Prolifics Receives Telangana’s Best Employer Brand Award for Talent Cultivation and Human Resources Excellence
Hyderabad, IN — The World HRD Congress, in partnership with CHRO Asia, has named Prolifics the recipient of the 2017 Telangana’s Best Employer Brand Award.
The award recognizes companies in the Indian region of Telangana that effectively attract, retain, and develop talent while displaying exemplary human resources approaches. Prolifics proved itself by combining its vision with action when it comes to HR and business strategies, as well as building on its competencies to ensure that it is ready to conquer the challenges that the future holds.
“As an organization with a significant history and footprint in Hyderabad, we are honored to be recognized as a human resources leader,” said Sam Ourfalian, President of Prolifics. “We’re always pursuing new frontiers in human resources approaches and technologies to ensure that Prolifics is a great place to work that attracts the best minds in the industry.”
The World HRD Congress, sponsored by human resource development and employment opportunity periodical Times Ascent, celebrated its 25th anniversary this year. It issues a range of awards that honor organizations that produce tangible business results through innovative HR initiatives.
About Prolifics
Prolifics creates a competitive advantage for organizations around the world by implementing customized, end-to-end IT solutions that achieve business success, leveraging leading technologies in a global delivery model. For more than 35 years, the company’s technology expertise, industry-specific insights and certified technology accelerators have transformed organizations around the world by solving complex IT challenges. For more information, visit Prolifics
Prolifics Attains CMMI Level 5 for Development Certification
Prolifics has been recognized as a Level 5 Development organization by the Capability Maturity Model Integration (CMMI) Institute for Certification.
CMMI is a widely recognized framework that contains best practices for process improvement.
CMMI-DEV is the institute’s top tier of framework effectiveness and compliance in regard to product development.
This certification (along with the CMMI-SVC services certification, which Prolifics has held since 2015) helps prove Prolifics’ mastery of building effective products while also helping organizations set and attain improvement goals. The certifications cement Prolifics’ status as an ongoing leading provider of development, management, and delivery of products and services.
Prolifics Wins IBM Social Business Award for Worldwide Best Performance – Social Software
CALABASAS, CA, February 1, 2016 – Prolifics, a global technology solutions provider, today announced that it was named the winner of the IBM Social Business Award for Worldwide Best Performance – Social Software for IBM Social & Smarter Workforce Solutions. Prolifics received the award at the IBM Connect 2016 Conference in Orlando, Florida in recognition of its end-to-end solutions that deliver both Social Collaboration and Digital Experience capabilities.
This award acknowledges Prolifics as a strategic IBM partner in driving innovative solutions using mobile, social, rich internet, portal and collaborative platforms across a variety of industries. Prolifics has demonstrated its commitment to providing clients with the best possible Social Software outcomes backed by dedicated and responsive support capabilities.
“We are honored to accept this Social Business award recognizing Prolifics’ continued dedication to our clients’ success,” commented Sam Ourfalian, President of Prolifics. “This award highlights our sustained focus on helping our clients leverage cutting-edge technologies to drive new and unique value in their own organizations.”
At the IBM Connect 2016 Conference, Prolifics showcased its best-in-class, end-to-end portal, cloud, analytics, mobile and social solutions.
About Prolifics
Prolifics creates a competitive advantage for organizations around the world by implementing customized, end-to-end IT solutions that achieve business success, leveraging IBM, Microsoft and Open Source technologies in a global delivery model. For more than 35 years, the company’s technology expertise, industry-specific insights and certified technology accelerators have transformed organizations around the world by solving complex IT challenges. For more information, visit www.prolifics.com
Media Contact
Kirsten Craft
Prolifics
+1 646 380 3769
Prolifics Recognized as 2016 IBM Beacon Laureate Award Winner
Prolifics Acknowledged for Achievements in Technical Excellence
CALABASAS, CA, USA– February 17, 2016 – Prolifics announced today that it was named the winner of the IBM Beacon Laureate Award, which recognizes a Business Partner that has consistently demonstrated excellent achievement in a single Beacon Award category. Prolifics, an IBM Business Partner, was selected for the award for its exceptional accomplishments in the Technical Excellence category.
“For Prolifics to be presented with the Beacon Laureate Award for Technical Excellence is truly an honor,” stated Sam Ourfalian, President of Prolifics. “The award is one of the highest recognitions an IBM Business Partner can receive and it’s a great accomplishment for Prolifics. It recognizes our commitment to providing the most innovative, complete, best-in-class solutions to our clients.”
“IBM Beacon Laureate Award winners are chosen for their ability to help clients solve problems and unlock value by consistently delivering transformative solutions,” said Marc Dupaquier, General Manager, IBM Global Business Partners. “This year, I’m pleased to bestow Prolifics with the Beacon Laureate Award for Technical Excellence and look forward to continuing to lead together in the cognitive era.”
The Beacon Laureate Award and 24 additional Beacon Award winners were announced at the IBM PartnerWorld Leadership Conference 2016 in Orlando, Florida. More than 1,500 Business Partners and IBM executives from around the world attended the conference.
For more information about the IBM Beacon Awards, including information about winners and finalists, please click here Prolifics Recognized as 2016 IBM Beacon Laureate Award Winner.
To learn more about IBM PartnerWorld, a comprehensive program that offers marketing and sales resources, training, certification and technical support to help create new revenue and market opportunities for IBM Business Partners, visit http://www.ibm.com/partnerworld.
About Prolifics
Prolifics creates a competitive advantage for organizations around the world by implementing customized, end-to-end IT solutions that achieve business success, leveraging IBM, Microsoft and Open Source technologies in a global delivery model. For more than 35 years, the company’s technology expertise, industry-specific insights and certified technology accelerators have transformed organizations around the world by solving complex IT challenges. For more information, visit https://www.prolifics.com.
Media Contact
Kirsten Craft
Prolifics
+1 646 380 3769