We’re excited to announce that Prolifics’ Innovation through Open Banking solution is an IBM 2020 Beacon Award finalist in the “Outstanding Hybrid Cloud Solution” category. The Prolifics UK Innovation Lab originally implemented the solution for a large British banking organization and has since implemented it at multiple major banks in the UK.
“IBM is proud to recognize Business Partners who strive to enhance client experiences, drive business growth, and change the world…The IBM Beacon Award recognizes Business Partners worldwide who use IBM products and technology to create outstanding solutions and spark innovation,” states IBM on their site announcing this year’s award winners.
Recent Open Banking initiatives in the UK and the EU’s PSD2 are changing how banks, their customers and third parties access, share and secure the customers’ financial information. These regulations reflect customers’ desires for digital access and self-serve functions for financial products and services, as well as ownership and portability of their digital financial accounts and transactions across providers.
Prolifics sees these initiatives, along with similar ones in the US, Middle East, Australia and Asia, as opportunities for financial organizations to reinvent themselves as more open, responsive, customer-centric and partner-friendly. Our Innovation Through Open Banking solution offers:
Securely exposed, open APIs for use by both the business and third-party organizations
A robust SaaS API management platform, leveraging IBM’s leading cloud, API, and integration products
Access to a preconfigured sandbox environment built on IBM Cloud/SaaS software, enabling rapid testing of integration points
A dedicated Prolifics managed services team that helps manage post-deployment complexities, freeing the organization to focus on customer service and future innovation
The solution provides a quick win and a quick path toward compliance with the new regulations. With the solution in place, the client can rapidly build a secured API marketplace, generating new products and services and adding new features to current offerings.
As similar initiatives arise elsewhere in Europe, the UK and around the world, this solution can be quickly adapted to meet those requirements. It is also a good fit for banking organizations seeking to innovate business practices in an open banking, API-centered model. But the base solution isn’t restricted to Banking – Prolifics has also extended the underlying IBM solution to provide capabilities for other industries such as Open Insurance and FHIR for Healthcare.
There are lots of robots out there – from the Class M3 Model B9 in “Lost in Space” to the funny-talking Terminator to Michael Jackson’s robot moves in “Dancing Machine.” But, the real robot – or just plain “bot” – you’re probably looking for is something to help your business run smoother and your employees to do more productive work. There are different levels of robotics – or automation – available based on what you’re trying to do. Here’s a basic guide to get you to the level you need.
Robotic process automation – freeing up your employees for more important work
Your employees often spend a ton of time on repetitive mundane tasks thanks to non-integrated systems or silos of information that you think can only be bridged manually. Think about some of your data input tasks, you need to manually enter information from one document or system into the next document or system, or information must be parsed out to various reports or departments. Repetitive work like this causes employees to become distracted, bored or tired – leading to mistakes and less work completed. This not only diminishes individual productivity, but it creates a downstream ripple effect in the rest of your business processes. Even with entry-level positions, mundane tasks can leave employees frustrated, leading to turnover and increased hiring and training costs. You may think this type of work doesn’t exist in your company, but we can almost guarantee that it does. And it can be fixed.
This is where robotic process automation (RPA) comes into play. Advances in RPA have made it easier, quicker and cheaper to roll out with reduced risk. It’s quick – often going from “ideation to operationalization” in three to four weeks. RPA can run repetitive, mundane tasks 24 hours a day, quickly, with an extremely low error rate. Once programmed, it never needs a refresher course, and updates or changes are implemented easily – without additional training costs. RPA is not intended to replace employees – even lower-level workers. It’s meant to free up those employees for more important work. They can become “knowledge workers.”
Okay, so what’s hyper-automation or hyperautomation?
In “Gartner Top 10 Strategic Technology Trends for 2020,” they define hyperautomation as “deal(ing) with the application of advanced technologies, including artificial intelligence (AI) and machine learning (ML), to increasingly automate processes and augment humans.” So, it’s often used interchangeably with the terms and concepts discussed below.
Let’s move up a bit to “exception” work, like claims processing in healthcare insurance. While most claims processing never needs human intervention (because of RPA), your claims process specialist – a knowledge worker – must review certain claims for such things as over-threshold amounts, suspected fraud, audit, and other exceptions. Often there are tedious, repetitive tasks associated with these exceptions, like compiling facts, figures and information out of different data sources, business applications and/or policy documents. Your knowledge worker needs to get this specific information, based on whatever the exception kick-out is, to make a decision. But compiling the info (even assuming no mistakes are made) slows down the worker, the decision, and the process – resulting in inefficiencies and higher costs.
Intelligent automation / hyperautomation is the answer here. This type of bot learns where to get the information needed to process the exception – quickly, accurately and completely. Imagine the knowledge worker getting the exception report along with all the information needed to make the decision.
Intelligent automation / hyperautomation is especially valuable when volume is considered. Claim filings can vary widely based on events and time of year. And when something like COVID-19 hits, with the potential for an explosion in claims volume with specific claim exceptions – for example, no co-pays – volume and workforce size are difficult to match. Having a stable workforce while scaling up or down for claims volume is difficult. There’s a lot of time and cost involved in hiring and training knowledge workers. Hire too many and you may end up with layoffs; hire too few and you’re scrambling to get the job done. IA bots, also known as digital worker assistants or simply digital workers, can be easily added or removed to scale up or down based on volume, helping to stabilize your knowledge-worker hiring.
Intelligent automation / hyperautomation is not just for claims exceptions. It can be used across multiple industries to actually make decisions based on the information it gathers. Examples include:
Healthcare: Check on provider data to determine “in-network” or “out-of-network” status.
Mortgages/loans: Process documentation and related decisions for loan applications.
Like straight RPA, intelligent automation is not meant to replace workers. It gives them the information they need to do their jobs quicker, more efficiently and more accurately.
Artificial intelligence/machine learning (AI/ML) capabilities are the top capabilities of digital workers. A digital worker that includes an AI/ML solution can complete complex decision making on its own. This is because new AI/ML techniques look at large amounts of data, make connections, and generate insights better and quicker than a knowledge worker ever could.
For example, basic automation can make a decision on a loan by collecting data and aligning it with the parameters set by the financial institution. An organization using AI/ML, by contrast, can analyze the entire historical loan portfolio on an ongoing basis, and recognize, for example, that a certain combination of factors leads to a much higher risk of default. If the loan application has those factors, the AI/ML digital worker will deny the loan.
AI/ML is for “what’s next” questions – such as who’s likely to default on a loan, what’s your customer’s next purchase, or when might your equipment break down. You would use artificial intelligence and machine learning tools to automatically detect sophisticated data patterns to predict potential outcomes, giving you better decision-making insight. Does AI/ML replace workers? Again, we would say no – AI/ML gives your company opportunities for sophisticated, strategic work that generates competitive advantages.
How can we help?
If you’re interested in any of the bot concepts discussed here, we can sit down with you for a free discovery workshop. If we believe one of our digital workers can help, then we’ll recommend a solution from our catalog of digital workers. If you want to go further, we’ll jump-start the automation solution, including deploying and customizing as needed for your environment. If an AI/ML solution is involved, we’ll also install and set up that platform. With Prolifics digital workers, we offer a quantified outcome expressed in improved time, increased volume and better quality.
New CMS and ONC rules on patient health data are on the horizon. FHIR is driving key data functions. You want to stay compliant, serve your customers and have a long-term strategy for analyzing and leveraging data. Prolifics’ Quick FHIR solution expert Tim Henrion talks more about these challenges and solutions to help you now and in the future.
Prolifics, a global digital transformation leader, is pleased to announce that CRN®, a brand of The Channel Company, has named Kirsten Craft, Global Head of Business Development & Marketing, to the prestigious “2020 Women of the Channel” list. In addition, CRN recognized Craft as one of its “2020 Power 40 Solution Providers,” an elite subgroup of the Women of the Channel list.
The leaders named to the Women of the Channel list represent technology vendors, distributors, solution providers and other IT organizations. Each is recognized for her significant contributions and unique role in the IT channel. The Women of the Channel Power 40 list highlights extraordinary women who exhibit thought leadership, channel expertise and innovative vision for driving channel growth.
Craft is responsible for promoting the Prolifics brand globally while developing new and innovative ways to provide value for Prolifics’ clients and partners. She has more than 20 years of experience in information technology in a wide range of leadership positions and has continually demonstrated expertise and ongoing dedication to the IT channel. In her seven years with Prolifics, Craft has been named to the Women of the Channel list five times.
Satya Bolli, Prolifics Chairman & Managing Director, said, “We’re proud as an organization that Kirsten is being recognized again. Our channel relationships are extremely important to us. She listens to the needs of our clients and partners and is committed to new business models and go-to-market strategies that expand and promote channel engagement that drives a higher level of value for clients.”
“I’m honored to be on the Women of the Channel and Power 40 Solution Providers lists,” said Craft. “It’s a reflection of the trust our manufacturers have in Prolifics. Technology changes and evolves rapidly. To stay on the leading edge and bring these innovations to our clients requires tight strategic and tactical channel relationships – which I’m happy to say we have across Prolifics.”
Find out more about Kirsten Craft and her achievements in her 2020 Woman of the Channel profile. CRN Magazine will feature the 2020 Women of the Channel list on June 8, 2020.
About Prolifics
Prolifics is a global digital transformation leader with expertise in cloud, data and analytics, DevOps, digital business, and quality assurance across multiple industries. We provide consulting, engineering and managed services for all our practice areas at any point you need them – giving you fast, complete solution delivery experiences that you will find nowhere else. Whether it’s initial advising and strategy; design and implementation; or ongoing analysis and guidance, Prolifics will help you take charge of your digital future. Visit www.prolifics.com.
Enforcement of the California Consumer Privacy Act (CCPA) goes into effect July 1. Your company can be fined $2,500 per compliance violation, and up to $7,500 if the violation is considered intentional. Fines can add up quickly depending on the size of your customer base.
Your organization must be able to comply with California’s new data rules, which (among other rights) give consumers:
The right to know what personal information is collected, used, shared or sold
The right to delete personal information held by businesses
The right to opt out of sale of personal information.
The right to non-discrimination in exercising these rights.
(For background, be sure to check out our article, “What Is The CCPA?”)
Feeling overwhelmed? Basically, CCPA compliance covers three general sections. Here’s a short checklist to get you started:
Data identification
Find and categorize the personally identifiable information (PII) of California consumers you have
Determine how PII is stored and how it flows across your company
Document the purpose of PII collection and how it is used across your company
Determine who has access to PII
Determine the quality and accuracy of PII
Identify third parties that process, access or store PII
Document where you’ve sold PII in the last 12 months
Customer access
Publish your Consumer Rights Management website portal (user interface) – including options for PII access, deletion and do not sell
Establish security to verify consumer identities
Enact a toll-free number for California residents to submit requests
Update external privacy policies and notices to comply with CCPA disclosure requirements
Ensure confirmation response and delivery process for requests
Request execution
Create processes and procedures for receiving and fulfilling consumer requests
Implement any technical or automated approach to handling request execution
Establish a confirmation response and delivery process for requests
Train employees personally responsible for handling CCPA requests
Provide CCPA training to your employee base
Update internal privacy policies and procedures to comply with CCPA
How Prolifics Can Help With CCPA Compliance
We have the products and solutions to help your company work towards compliance with any data privacy laws. And while we offer a step-by-step approach for an end-to-end solution, we can help you at any point in your compliance journey.
Data identification: Prolifics’ unique Data Hawk solution quickly scans all your data, not just file names or column headers, to find PII and identify where data privacy is at risk.
Customer access: We’ve partnered with privacy software company OneTrust to generate the front-end experience. Alternatively, we can work with you to create a low-code, customized user interface (UI).
Request execution: We work with providers like IBM and Talend to customize software that can execute big data integration and management.
To dive into all areas of data privacy, check out our expert hub. To learn more about our CCPA compliance products and solutions, email us at solutions@prolifics.com.
Checklist item(s)
Expanded
DATA IDENTIFICATION
Find and categorize the personally identifiable information (PII) of California consumers you have.
CCPA establishes these categories: identifiers; customer records information; characteristics of protected classifications; commercial information; biometric information; browsing and search history; geolocation data audio, electronic, visual, thermal, olfactory, or similar information; professional or employment-related information; education information; inferences
– Determine how PII is stored and how it flows across your company – Document the purpose of PII collection and how it is used across your company – Determine who has access to PII Identify third parties that process, access or store PII
Consumer has the right to request that a business that collects personal information about the consumer disclose to the consumer the following:
(1) The categories of personal information it has collected about that consumer. (2) The categories of sources from which the personal information is collected. (3) The business or commercial purpose for collecting or selling personal information. (4) The categories of third parties with whom the business shares personal information. (5) The specific pieces of personal information it has collected about that consumer
Determine the quality and accuracy of PII
If you don’t know the quality and accuracy of your data, you won’t know if you’re truly working towards compliance
Document where you’ve sold PII in the last 12 months
You must identify by category or categories the personal information of the consumer that the business sold in the last 12 months by reference to the category, and provide the categories of third parties to whom the consumer’s personal information was sold.
CUSTOMER ACCESS
Publish your Consumer Rights Management website portal (user interface) – including options for PII access, deletion and do not sell
If you have a website, you must make it available to consumers to submit requests for information required to be disclosed.
Establish security to verify consumer identities
CCPA is based around a “verifiable consumer request” – made by a consumer, by a consumer on behalf of the consumer’s minor child, or by a natural person or a person registered with the Secretary of State, authorized by the consumer to act on the consumer’s behalf. A business is not obligated to provide information to the consumer pursuant if the business cannot verify that the consumer making the request is the consumer about whom the business has collected information (or is a person authorized by the consumer to act on such consumer’s behalf.)
Enact a toll-free number for California residents to submit requests
You must “…make available to consumers two or more designated methods for submitting requests for information required to be disclosed… including, at a minimum, a toll-free telephone number.”
Update external privacy policies and notices to comply with CCPA disclosure requirements
You must “1) Provide a clear and conspicuous link on the business’s Internet homepage, titled “Do Not Sell My Personal Information,” to an Internet Web page that enables a consumer, or a person authorized by the consumer, to opt-out of the sale of the consumer’s personal information. A business shall not require a consumer to create an account in order to direct the business not to sell the consumer’s personal information. (2) Include a description of a consumer’s rights … along with a separate link to the “Do Not Sell My Personal Information” Internet Web page in: (A) Its online privacy policy or policies if the business has an online privacy policy or policies. (B) Any California-specific description of consumers’ privacy rights.”
Ensure confirmation response and delivery process for requests
You must “…disclose and deliver the required information to a consumer free of charge within 45 days of receiving a verifiable consumer request from the consumer.”
REQUEST EXECUTION
– Create processes and procedures for receiving and fulfilling consumer requests – Implement any technical or automated approach to handling request execution – Establish a confirmation response and delivery process for requests
“A business that receives a verifiable consumer request from a consumer to access personal information shall promptly take steps to disclose and deliver, free of charge to the consumer, the personal information required by this section. The information may be delivered by mail or electronically, and if provided electronically, the information shall be in a portable and, to the extent technically feasible, readily useable format that allows the consumer to transmit this information to another entity without hindrance. A business may provide personal information to a consumer at any time, but shall not be required to provide personal information to a consumer more than twice in a 12-month period”
– Train employees personally responsible for handling CCPA requests – Provide CCPA training to your employee base – Update internal privacy policies and procedures to comply with CCPA
You must “Ensure that all individuals responsible for handling consumer inquiries about the business’s privacy practices or the business’s compliance with this title are informed of all requirements…and how to direct consumers to exercise their rights under (the law).”
The California Consumer Privacy Act (CCPA) was created to provide consumers in the state of California with additional rights and protections related to how businesses are permitted to use their personal information. This state statute was enacted in 2018 and put into effect in January 2020.
In this article, we’ll take a look at what the CCPA is and how the CCPA impacts businesses and consumers.
What Is The Purpose of CCPA?
In the past few years, customers have expressed growing concerns about the fate of their personal data in the hands of businesses and corporations. The purpose of the CCPA is protect the data and privacy of consumers. The CCPA endows residents in the state of California with the following rights:
The right to be informed that personal data is being collected, used, sold, and/or shared by businesses
The right to request for the deletion of personal data
The right to prohibit businesses from selling their personal information
The right to access any personal data collected by businesses
The right to not be discriminated against (higher prices, lower levels of service, etc.) for exercising these rights
In the event that these rights are breached, the CCPA grants California residents the right to sue.
What Is Personal Information?
It is important to know what personal information is to have a good understanding of the implications of the CCPA. The CCPA defines personal information as the following: “Information that identifies, relates to, describes, is reasonably capable of being associated with, or could reasonably be linked, directly or indirectly, with a particular consumer or household.” (1798.140.o1).
The different categories of personal information under the CCPA are direct identifiers, unique identifiers, biometric data, geolocation data, internet activity, and sensitive information. Examples of direct identifiers include first and last name, social security numbers, and home address. Unique identifiers refer to data like account names, cookies, and IP addresses. Location history is the primary example of geolocation data. Internet activity refers to browsing history and search history. Biometric data encompass voice and face recordings. Finally, health data is an example of sensitive information.
Overall, any data that can be used to identify an individual or a household is considered personal information under the CCPA. Data that is anonymous or aggregated generally is not covered by the CCPA. In some cases, suppression of data may be necessary to prevent the Identification of specific individuals or households by inference or by combining multiple sources of anonymous or aggregated data.
Which Businesses Must Abide by the CCPA?
Not all businesses must abide by the CCPA. There are certain requirements that a company must fulfill before being forced to comply with this state statue. The following companies are required to abide by the CCPA:
Companies that earn more than $25 million in annual gross revenue
Companies that collect the personal information of at least 500,000 residents, households, and/or devices in California each year
Companies that derive more than half of their annual revenue from selling the personal information of California residents.
Notably, companies outside of the state of California are also expected to comply with the CCPA. After all, most of the businesses in the United States do business with consumers in California. Also, many other states have enacted similar legislation. Some examples of such states include Washington and New Jersey.
Are B2B Businesses Exempt from the CCPA?
“No” is the short answer to the question “Are B2B businesses exempt from the CCPA?” However, in truth, the answer is a little more complicated than that. The CCPA is not entirely black and white when it comes to business-to-business (B2B) companies. According to the CCPA, all communications and transactions that occur during the process of a business providing or receiving a product/service are exempt from the CCPA. Therefore, it appears that B2B businesses are exempt from the CCPA in terms of emails and other forms of communication. This exemption is only in place until January 2021.
However, B2B companies must still comply with the CCPA when it comes to allowing individuals to say no to the sale of their personal information and making sure consumers who exercise their data privacy rights are not exempt.
Overall, while there are some short-term exemptions that B2B companies are currently enjoying, the CCPA does have major implications for B2B companies. It is in the best interest of B2B companies to take advantage of these short-term exemptions to make the transition to this new normal for data privacy laws a little less rocky.
What Is the Difference Between the CCPA and the GDPR?
One question that you may have is “What is the difference between the CCPA and the GDPR?” The GDPR, which stands for the General Data Protection Regulation, is a regulation pertaining to data privacy in the European Union as well as the European Economic Area. The GDPR also regulates the transfer of personal information in areas other than the EU and EEA.
The GDPR was enacted in May 2018 to standardize data privacy laws across all 28 countries in the EU. The GDPR requires businesses to protect the personal data associated with all transactions occurring in the EU. This includes US businesses conducting transactions in the EU.
The main difference between the GDPR and the CCPA is that the latter only protects the privacy and data of California residents. On the other hand, the GDPR is only applicable for transactions in the EU. Another key difference is that the primary focus of the CCPA is to regulate the sale of personal information. The main focus of the GDPR is to regulate data ownership and the rights to personal data deletion.
What Does the CCPA Mean for Businesses?
The CCPA requires that all residents of California must know what personal data is being collected and how this information is being used. However, the CCPA may mean that businesses may need to grant these new data privacy rights to all customers. The reason for this is that it is often difficult for a business to know for sure where a user is located. Therefore, for many businesses, it is in their best interest to blindly apply the CCPA rights to all customers due to the inability to distinguish between consumers from California and consumers from other states. Also, as noted above, many states are working to enact statues similar to the CCPA.
Businesses can face civil penalties of $2,500 per violation under the CCPA and up to $7,500 for all intentional violations. In general, a business will first receive notification of alleged noncompliance. If the business fails to rectify the violation within 30 days, the business will be considered in violation of the CCPA and may face civil penalties and civil actions for injunctions from the California attorney general. As mentioned above, California residents are able to sue businesses for violations as individuals or classes.
How Should Businesses Prepare for the CCPA?
There are a number of steps that businesses should take to prepare for the CCPA. These steps include updating their website and ensuring personal data security. This section will outline how businesses can adequately prepare for the CCPA.
All businesses should update the privacy policy on their website to ensure the personal data they collect is clearly outlined. Not only should the privacy policy mention what personal data is collected, but it should also explain why it is stored and how it is processed and used. A section of your website should provide your consumers with clear instructions on how to make a request to access their personal data. You can provide a toll-free telephone number that consumers can call to make a right-to-access request. Provide a thorough explanation of how your business intends to validate the identity of individuals who make right-access requests.
Under the CCPA, the California Attorney General has the power to impose fines in the event of a breach of personal consumer information. However, these penalties are only applicable to businesses that did not take the right steps to protect personal data.
Be sure that all the personal information you collect from your consumers is encrypted. Redaction is another method that you can use to protect the personal information of your California consumers. Not only do you need to protect the data through encryption or redaction, but you may need to completely restructure the way you collect and store data to ensure that you have the ability to find personal information no matter where it is stored. The reason is that consumers can make right-to-access requests, which means you need to be able to find and provide this data in an efficient manner. As you can imagine, this can be a very time-consuming and difficult process.
In Conclusion
In conclusion, the CCPA has the potential to have national and even global implications when it comes to data privacy for consumers. California was the first state in the county to enact legislation to protect consumer data and privacy. Many states are expected to follow suit in the next few years. For more information about what is the CCPA, don’t hesitate to contact us.
Your customers want control over how her information is used by customers like yours. The CCPA in California & GDPR in Europe are designed to protect consumer data. Additional privacy laws are in the works.
What does increased regulation mean for you? Your company collects personal information from consumers. Expanding privacy laws create new responsibilities and force new processes for handling this type of data. Your executives and legal team must ensure data privacy compliance; your IT team must identify quick and reliable solutions to do so.
Will you be ready when customer requests come in? Do you understand what data presents a risk? Do you know where this data is stored, how it is being used, and who has access?
How And Where Do You Start?
Prolifics understands your data technology needs. We can handle the system modernization and intelligent automation capabilities you need to be a good steward of customer information.
We are consultants and engineers—not attorneys. But our first step will be to talk with your legal team about applicable laws and where you stand with your data and associated risks.
From there, we’ll employ artificial intelligence and machine learning to quickly locate personal information wherever it lives in your data universe and identify where data may be at risk of violating privacy laws.
We’ll help you to identify how your company uses personal information and who has access to it. Then, we’ll apply data management processes and procedure solutions to help you assemble and format this personal information into a digital catalog.
Data Privacy & Customer Access
Your customer’s experience is also important. We’ll provide a user interface solution that makes it easy for customers to send requests and that facilitates engagement. You’ll be able to receive, execute and reply to requests, all while leaving an audit trail that’s essential to demonstrate regulatory compliance.
Prolifics offers a powerful solution that can be implemented quickly and efficiently. But if you already have data services in place, we can come in at any point to help your team complete the process. We also provide managed services to help facilitate data compliance efforts, freeing up your teams for high-value projects.
Data privacy laws are here to stay, and you are responsible for protecting your customer data. Let us help you.
As a long-time IBM business partner, we’re thrilled to announce that IBM named Prolifics as a finalist in its 2020 Beacon Awards. Our “Blockchain-Supported Interoperability for Healthcare solution” –generated by our Innovation Center – is recognized in IBM’s Blockchain Trailblazer Award category.
“IBM is proud to recognize Business Partners who strive to enhance client experiences, drive business growth, and change the world…The IBM Beacon Award recognizes Business Partners worldwide who use IBM products and technology to create outstanding solutions and spark innovation,” states IBM on their site announcing this year’s award winners.
Recognizing that blockchain will be a highly sought-after technology, our Innovation Center drew on our healthcare expertise to create demonstration scenarios for the healthcare industry. Blockchain benefits for healthcare include a unified, secured view of data across disparate healthcare entities, provisioning of information necessary for patients to make informed decisions, and overall streamlined claims processing. In short, the outcomes of this solution lead to improved revenue cycle management along with enhanced patient relations.
The solution is currently being leveraged within the healthcare industry to build a blockchain network across multiple business units. This solution will deliver a variety of benefits to the involved organizations, including real-time transparency, customer-centricity, cost savings and business agility.
While the healthcare industry is our immediate focus for this innovative blockchain solution, it is directly applicable and viable across multiple industry segments.
To learn more about Prolifics, visit our website at prolifics.com.
We’re proud to share the news! Prolifics is an IBM 2020 Beacon Award finalist in two categories – “Outstanding Hybrid Cloud Solution” and “Blockchain-Supported Interoperability for Healthcare solution.”
“IBM is proud to recognize Business Partners who strive to enhance client experiences, drive business growth, and change the world…The IBM Beacon Award recognizes Business Partners worldwide who use IBM products and technology to create outstanding solutions and spark innovation,” states IBM on their site announcing this year’s award winners.
IBM, on the company’s website announcing this year’s award winners
Prolifics Open Banking SaaS Solution Recognized in Outstanding Hybrid Cloud Solution Category
The Prolifics UK Innovation Lab originally implemented the solution for a large British banking organization and has since implemented it at multiple major banks in the UK.
Recent Open Banking initiatives in the UK and the EU’s PSD2 are changing how banks, their customers and third parties access, share and secure the customers’ financial information. These regulations reflect customers’ desires for digital access and self-serve functions for financial products and services, as well as ownership and portability of their digital financial accounts and transactions across providers.
Prolifics sees these initiatives, along with similar ones in the US, Middle East, Australia and Asia, as opportunities for financial organizations to reinvent themselves as more open, responsive, customer-centric and partner-friendly. Our Innovation Through Open Banking solution offers:
Securely exposed, open APIs for use by both the business and third-party organizations
A robust SaaS API management platform, leveraging IBM’s leading cloud, API, and integration products
Access to a preconfigured sandbox environment built on IBM Cloud/SaaS software, enabling rapid testing of integration points
A dedicated Prolifics managed services team that helps manage post-deployment complexities, freeing the organization to focus on customer service and future innovation
The solution provides a quick win and a quick path toward compliance with the new regulations. With the solution in place, the client can rapidly build a secured API marketplace, generating new products and services and adding new features to current offerings.
As similar initiatives arise elsewhere in Europe, the UK and around the world, this solution can be quickly adapted to meet those requirements. It is also a good fit for banking organizations seeking to innovate business practices in an open banking, API-centered model. But the base solution isn’t restricted to Banking – Prolifics has also extended the underlying IBM solution to provide capabilities for other industries such as Open Insurance and FHIR for Healthcare.
Prolifics Blockchain Solution Recognized in Blockchain-Supported Interoperability for Healthcare Solution Category
Prolifics Blockchain Solution is a product of our Innovation Center. Recognizing that blockchain will be a highly sought-after technology, the Innovation Center drew on our healthcare expertise to create demonstration scenarios for the healthcare industry. Blockchain benefits for healthcare include a unified, secured view of data across disparate healthcare entities, provisioning of information necessary for patients to make informed decisions, and overall streamlined claims processing. In short, the outcomes of this solution lead to improved revenue cycle management along with enhanced patient relations.
The solution is currently being leveraged within the healthcare industry to build a blockchain network across multiple business units. This solution will deliver a variety of benefits to the involved organizations, including real-time transparency, customer-centricity, cost savings and business agility.
While the healthcare industry is our immediate focus for this innovative blockchain solution, it is directly applicable and viable across multiple industry segments.
To learn more about Prolifics, visit our website at prolifics.com.
We are proud to announce that Prolifics is the winner of the IBM Cloud Excellence Award: Cloud Pak—during the first-ever virtual IBM Think conference on Tuesday, May 5, 2020. IBM’s Excellence Awards recognize the stellar performance of IBM Business Partners who have demonstrated excellence and drive exceptional client experiences and business growth.
Prolifics expertise and IBM Cloud Paks provide a powerful combination for Prolifics solutions. We recently launched Quick FHIR, a solution that leverages IBM Cloud Pak for Integration to rapidly integrate FHIR to existing systems within healthcare organizations and provide them with the ability to manage and leverage patient data in a secure and compliant environment. Using IBM Cloud Pak for Data, our CCPA and Data Privacy offerings provide businesses with revolutionary information management and analytics capabilities, as well as redefining end-to-end integration.
IBM recognized Prolifics based on set criteria established by the IBM Hybrid Cloud business unit. We are honored to receive the Cloud Excellence Award: Cloud Pak. It showcases our alignment with a strategic portfolio area within IBM and acknowledges our exceptional work in providing business value and industry success with IBM Hybrid Cloud.
Prolifics is recognized as one of 22 Business Unit Excellence Award winners. The IBM Business Unit Excellence Awards recognize IBM Business Partners that deliver stand-out results to help drive business value and transform the way clients and industries operate.
To learn more about Prolifics, visit our website at prolifics.com.
