Our customer is an international leader in financial services and wealth management with more than 1 million clients and a trillion dollars in insured assets. As you can imagine, a company this size manages tremendous amounts of data, and the data continues to grow. The solution – a comprehensive data governance program that keeps the business running smoothly. The results – valuable, reusable data assets, better control over ongoing data governance initiatives across the enterprise and improved efficiencies and effectiveness in how it leverages critical data.
Fedway Associates Inc., New Jersey’s largest liquor and wine distributor, uses its omni-channel portal app to easily locate products, automate manual processes to improve workflow efficiency, and enhance the customer experience.
Kirk Wolthouse, Vice President of Marketing Services, talks about how Prolifics helped Fedway Associates prepare its app for market in under 6 months, while making the process quick, efficient, and cost-effective.
Data privacy laws and regulations, like the EU’s General Data Protection Regulation (GDPR) and California’s Consumer Privacy Act (CCPA), are just getting started. That means more customers will control how companies use their collected data. Understandably, companies are struggling to understand and comply with these new laws.
Challenge
The American Bureau of Shipping (ABS) collects a substantial amount of data from customers and business partners through its operations in 70 countries. ABS needed to understand what laws applied to them and how best to move toward compliance. But, instead of waiting for each government mandate to roll out, ABS needed a bigger picture solution – one that was applicable, repeatable and would address a large percentage of whatever government data privacy rules come next. ABS also needed the solution to help distinguish its brand in the marketplace as being a good steward of its customers’ data.
About ABS
ABS is one of the world’s leading ship classification organizations, committed to setting standards for safety and excellence so that the marine and offshore industries can operate safely, securely and responsibly. For more than 150 years, ABS has worked alongside its partners to tackle the most pressing technical, operational and regulatory challenges.
Action
Prolifics provided data integration and data management solutions that helped ABS modernize data delivery and data consolidation for its 200 offices around the world.
We first worked with ABS to deploy our rapid Data Privacy Assessment, to identify issues and opportunities for data integration and a larger data solution for continuity.
We then introduced Prolifics’ Data Governance Framework solution, to give ABS a unified platform to deliver data governance, analytics and compliance on a global scale. The Data Governance Framework centralizes both structured and unstructured data from across ABS, so that the company can gain a more complete understanding of the information it owns and act on regulatory requests. With this insight, the company can target sensitive data for action, move toward better compliance, and avoid regulatory infractions that impact both the bottom line and the brand’s image.
Result
As a result of the Data Governance Framework solution, ABS is closer to compliance with GDPR, CCPA, and other regulations as they emerge.
The solution provides ABS with extensive cost savings in infrastructure capital expenditure in the first three years by centralizing onto a single platform. ABS expects a 10 percent improvement in service utilization, with a projected revenue growth of 20 percent over the next three years.
A foundation of reputable, high-quality data prepares ABS to adopt cutting-edge technologies that leverage artificial intelligence and machine learning (AI/ML) to drive innovation. Potential use cases include regular, automated data remediation and risk reporting, as well as larger AI/ML-powered initiatives across the business.
Closer compliance with GDPR and CCPA
10% service utilization improvement
AI/ML-powered use cases
ABS used the Data Governance Framework solution to:
Develop and enable a data privacy and governance roadmap, used to design and implement a fully featured data governance program
Create data transparency by identifying structured and unstructured data across organizational silos
Track, analyze and report the lineage of this data, which allows insight into the history and metadata of this information
Perform risk analysis to determine personally identifiable information and associated risk, with a data risk dashboard enabling executive review and monitoring of key risk factors
Design a roadmap of future AI/ML use cases, with confidence in the underlying data quality and compliance adherence
Technology
The Data Governance Framework solution brings together a number of Prolifics and IBM technologies to create a unique capability. Our combination of software, integration, governance framework, and forward-looking focus on innovation enables the Data Governance Framework solution to understand and respond to data problems as a whole – creating compelling long-term value for the client.
Specific technologies implemented with ABS included:
Prolifics’ rapid Data Privacy Assessment – identifies issues and opportunities for data integration into the larger data solution
Prolifics’ Data Governance Framework and assets – developed through extensive experience in solving data challenges
IBM Information Server and Information Governance Catalog – consolidates data from across the enterprise into a format that is ready for use in analytics and reporting
IBM QualityStage – cleanses data to ensure high data quality
IBM StoredIQ – gathers unstructured data from across the enterprise; combines that unstructured data with structured data gathered using IBM Information Server to provide a full view of the customer information within the environment
IBM Cognos Analytics – performs data visualizations and reporting
Using these technologies, Prolifics provided ABS:
A data mart that stores information regarding customers’ personal data, metrics, and progress
A data glossary housing information about transactions, service availabilities, rates, relevant business terms, and more
Integration with an information data governance catalog to consume and export business terms and steward relevant data for lines of business. It also provided a systematic data remediation approach.
Configurable information analysis to provide details about risk that is associated with compliance according to regulatory standards. The solution provided enterprise data inventory, data mapping, and data lineage capabilities that support compliance goals.
Reporting, analytics, and auditing capabilities
Unstructured data discovery to understand compliance risks surrounding big data and unstructured data repositories such as Outlook and other cloud applications
Remediation controls to satisfy company data privacy policies and prepare for regulatory data subject access requests
Learn more
At Prolifics, we provide end-to-end data analytics services, at any point you want them, for whatever condition your data is in. Visit our Data & Analytics services page or email us at solutions@prolifics.com.
Ornge is committed to extending the reach of healthcare in Ontario. It’s strength is helping people, not building digital systems. So when the not-for-profit experienced signicant growth and needed to upgrade its system to better manage its financial data, it chose Prolifics to get the job done.
Testing Drives Agility and Savings at a Private Mortgage Insurance Company
Prolifics implemented a Testing Center of Excellence (TCoE) using automation to execute hundreds of parallel projects.
The new TCoE provides continuous support with an advanced Test Automation solution that is executed bi-weekly before migrating any changes into production. This solution achieves 97% Defect Removal Effectiveness and over $1 Million in savings annually.
Founded in 2002, the client (hereafter referred to as the Company) is one of the fastest-growing mortgage lending and financial services firms in the country. This leading privately held mortgage lending firm provides loan services across one hundred retail branches in 40 states.
Business Challenge
The Company is driven by one core commitment: provide customers with unparalleled quality of service. The Company delivers on this commitment by relying on a series of processes that ensure rapid loan processing and management. However, as leadership prepared for anticipated business growth, it sought to build a new IT platform that would streamline these critical business processes and integrate with their existing retail applications.
The Solution
Prolifics engineered the solution that meets the following criteria:
scalability which ensures growth at all platform layers to meet future business transaction volumes;
visibility which provides real-time insight into loan statuses and troubleshooting needs;
efficiency which enables consistent, accurate management of as many as 50 times more loans.
The Company is a major global mutual fund and financial services organization. Its systems undergo substantial spikes in load each day as the trading market closes.
The Company needed a solution to autonomously manage traffic, mainframe requirements, and cloud scaling. Prolifics helped put the right solution in place. The system scales to meet demand and increases visibility into scaling metrics and thresholds. It helps save over $100 million in IT investment consolidation costs.
The Organization supports a US state’s court system. Its existing indigent claims and compensation process involved a three-part system with manual data entry to move information from one system to another.
At times, tens of thousands of clams were on hold, and claim turnaround time averaged 45 days.
Prolifics implemented a solution that creates a centralized case management system, leveraging private cloud-based business process enhancements to increase productivity and accuracy within claims management. Claims are processed up to 77% faster, and the system can better support critical court functions.
When an audit identified exposures in a financial organization’s processes, it became apparent that the Company’s approach to risk management reporting was limited and costly.
Reporting involved extensive manual effort, and was supported by spreadsheets and workbooks that were difficult and time-consuming to use, introducing errors and delays into the process.
Prolifics introduced a data governance and automation solution that elevates risk assessment and makes reporting user-friendly. It collates data, ensures its quality, and creates a reliable view of key finance and compliance functions across the enterprise. This solution saves the Company up to $100,000 a year in labor costs.
