Bank’s Modernization Beats Pandemic’s Threat to Business
December 17, 2021
Our client, a West Pacific bank, was very much linked to its area’s tourism trade, both in commercial and consumer banking. The pandemic decimated tourism, and the bank experienced large drops in its revenue, earning per share, and stock price. It reported in its Form 10-K Annual Report that the pandemic could continue to significantly impact demand for its services and products.
While the bank had been making upgrades previously (that Prolifics had helped with), the pandemic made the bank realize they had to pivot from both technological and data perspectives, so they could be proactive instead of reactive. They felt that getting control of their data was the key: They wanted to leverage modern technologies, including artificial intelligence (AI), to make and execute business decisions for a quicker time to value; and they wanted to look at data governance for things like “work from anywhere” with remote users and data access. All-in-all, the bank wanted a new, modernized data governance program. Unsure of where to begin, they talked to different tech consultants and engineers.
The bank identified what it thought was a solution for its immediate modernization needs and asked Prolifics for guidance. Our first step was to engage the bank with our data experts alongside IBM Expert Labs, one of Prolifics’ technology partners, in an interactive Data Strategy Workshop. The activity included an in-depth look into the current environment, the most pressing issues facing the bank, other gaps, existing resources and what the bank’s objective was longterm. During this intense workshop, we covered the entire gamut of data issues including:
- Clarifying the business strategy
- Determining the strategic drivers around the business strategy
- Analyzing the corporate landscape
- Setting up the bank’s architecture and topology
- Confirming tools needed for networking, access, and security
- Identifying workloads movable to the cloud
- Identifying workloads needing to stay on-premise
- Ascertaining the bank’s risk and compliance mandates under CCPA
- Establishing “work from anywhere” groundwork regardless of data center / accessing data center
- Exploring new business models
Based on this workshop, the bank asked us to help them provide a strategy and a pathway to modernize their data management and data operation platform to realize immediate results and longterm success.
With a plan in place for a step-by-step migration that met the bank’s business objectives and aligned with its goals, Prolifics is currently helping the bank implement governance and operate a data governance program based on data content and quality. When everything is in place, it will be easier for the bank to govern and manage its data. The bank will be able to do more with AI, their data will exist on a single platform with a single pane of glass; all modernized and with the ability to run anywhere; and run in any cloud.
Utilizing Prolifics Cloud Pak for Data migration accelerators and expertise with RedHat OpenShift and MANTA, Prolifics was quickly able to put a plan in place for a step-by-step migration plan that met the Bank’s business objectives and aligned with its goals. Included in the modernization project is IBM Cloud Pak for Data, Watson Knowledge Catalog and DataStage cartridge.
Prolifics is a global digital transformation leader with expertise in Data & AI, Integration & Applications, Business Automation, DevXOps, Test Automation, and Cybersecurity across multiple industries. We provide consulting, engineering and managed services for all our practice areas at any point our clients need them. Vision to Value. Faster. It’s not just the Prolifics’ tagline, it’s what drives us. Reach out to learn more – firstname.lastname@example.org.