September 2023

Gen AI in Banking and Finance is at the forefront of the industry, driven by its potential to transform customer retention. Gen AI empowers financial institutions through comprehensive data analysis to personalize services, predict customer needs, and enhance the overall customer journey, securing customer retention in a competitive landscape. 

Sarah’s Story 

Meet Sarah, a dedicated customer service leader at a top-notch financial institution. Her mission is to ensure a positive customer experience and retain valuable clients. However, she faces the challenge of retaining these clients due to a lack of detailed customer insights, making it difficult to provide personalized services and anticipate customer behavior. 

Challenges and Prolifics Generative AI Solutions   

Challenge #1: Customer Behavior Analysis 

Generative AI Solution Assists with:   

• Segmentation and Profiling: Creating detailed customer profiles based on transaction history and interaction patterns, enabling Sarah to offer personalized advice and services to different customer segments. 
• Predictive Analytics: Predicting future customer behavior and preferences, enabling Sarah to proactively address customer needs and suggest tailored products and services. 
• Enhancing Customer Interaction: Generating personalized suggestions during customer interactions, leading to improved customer satisfaction and loyalty. 
• Behavioral Insights: Providing valuable insights into customer behaviors and preferences, enabling Sarah to craft more targeted communications and recommendations. 

Challenge #2: Customer Churn Analysis 

Generative AI Solution Assists with:   

• Churn Prediction: Identifying customers likely to leave the bank, enabling Sarah to take timely action to engage with these customers and prevent churn. 
• Risk Assessment: Assessing behavioral data and identifying at-risk customers, enabling Sarah to deploy personalized retention strategies before customers decide to leave. 
• Personalized Retention Offers: Generating customized retention offers for at-risk customers, enabling Sarah to present these offers and increase the chance of retaining valuable clients. 
• Real-time Alerts: Providing real-time alerts for signs of customer dissatisfaction or churn risk, enabling Sarah to address customer concerns promptly. 

Challenge #3: Personalizing Customer Reports and Experiences 

Generative AI Solution Assists with:   

• Customized Reporting: Creating personalized financial reports and insights for each customer, fostering a stronger relationship. 
• Personalized Product Recommendations: Analyzing customer behaviors, enabling Sarah to recommend the most suitable financial products and services.  
• Dynamic Content Generation: Creating engaging content for customer interactions, strengthening customer relationships. 
• User Interface Personalization: Customizing user interfaces based on individual preferences and behaviors, making online interactions smooth and enjoyable for customers. 

Challenge #4: Implementation Strategy 

A well-structured implementation strategy is paramount for Sarah to fully harness the potential of Generative AI. Prolifics provides expert guidance to achieve this. 

Prolifics Assists with: 

• The Right Technology: Identifying and implementing the ideal AI technology stack by evaluating scalability, compatibility, and long-term viability. 
• Integration with CRM: Ensuring customer interactions are integrated with the bank’s CRM system, providing real-time insights into customer behavior. Automated responses and alerts based on AI insights enhance customer service capabilities. 
• Multi-Channel Analysis: Facilitating the analysis of customer interactions across various channels, offering a comprehensive view that deepens understanding of customer needs and preferences. 
• Continuous Learning: Deploying AI models that continuously learn from new data and adapt to changing customer behaviors and preferences, ensuring customer retention remains a top priority. 

With the power of Generative AI and Prolifics’ expertise, Sarah drives the bank’s success and customer happiness through personalized service, churn prevention, and meaningful connections. Balancing AI insights with human touch, she ensures customer satisfaction and unwavering loyalty. 

Ready to transform your customer relationships with Generative AI? Contact Prolifics Experts today to turn this innovative use case into your business success! 

Gen AI in manufacturing is transforming safety and compliance. By harnessing AI’s power, it identifies risks, streamlines compliance, and enhances training. With real-time data analysis, it enables swift responses to hazards and changing regulations, making it a vital partner for safety and compliance in manufacturing. 

Frank’s Story 

Meet Frank, the safety and compliance manager in a bustling manufacturing facility, on a mission to instill a strong safety mindset in every employee and ensure strict compliance with the team. However, he faces the challenge of managing the creation and distribution of safety manuals, compliance documents, and training materials. 

The sheer volume and complexity of these documents pose challenges in ensuring accuracy, timeliness, and accessibility for his employees. Prolifics provides guidance to Frank on how to integrate Gen AI to address these issues. 

Challenges and Prolifics Generative AI Solutions 

Challenge #1: Safety Manuals: Create, update, and personalize easily comprehensible safety manuals for all employees. 

Generative AI Solution Assists with: 

• Content Generation: Generating clear, concise, and up-to-date safety manuals – eliminates manual updates. 
• Personalization: Tailoring manuals for various roles, responsibilities, and risk levels – ensures relevance. 
• Translation and Localization: Translating manuals into multiple languages and adapting content to cultural norms – promotes understanding among a diverse workforce. 
• Visuals Integration: Enhancing manual engagement and comprehension through visuals, diagrams, and graphics. 

Challenge #2: Safety Compliance Documentation: Stay compliant with ever-evolving safety regulations and maintain up-to-date, clear safety documentation. 

Generative AI Solution Assists with: 

• Regulatory Compliance: Ensuring documentation complies with local, state, and federal laws. 
• Template Generation: Generating templates for safety compliance documents – saves time and effort. 
• Document Review and Updates: Reviewing existing safety documentation for compliance and suggesting necessary changes. 
• Audit Trails: Creates detailed audit trails for transparent safety compliance. 

Challenge #3: Safety Training: Deliver effective safety training, providing personalized, engaging, and up-to-date training materials. 

Generative AI Solution Assists with: 

• Training Material Development: Creating customized training materials based on roles, machinery, and risks. 
• Interactive Learning: Developing interactive modules, quizzes, and simulations for engaging and memorable training. 
• Real-time Updates: Keeping training materials current with the most up-to-date information and safety regulations 
• Performance Tracking: Monitoring employee progress and identifying areas requiring additional training. 
• Personalized Learning Paths: Tailoring learning paths based on individual needs, learning styles, and knowledge levels. 

Challenge #4: Ethical AI Implementation: Ethical AI implementation is crucial for trust, compliance, and risk mitigation. Prolifics offers expert guidance to Frank. 

Prolifics Assists with: 

• The Right Technology: Identifying and implementing the ideal AI technology stack by evaluating scalability, compatibility, and long-term viability. 
• System Integration: Integrating AI tools with current safety management systems for operational efficiency and easy access to information. 
• Ethical AI Use: Employing AI ethically, legally, and with respect for privacy. 
• Ensure Accuracy: Reviewing AI-generated content for precision and maintaining the model with the latest information. 
• User Feedback: Facilitating the collection of employee feedback on AI-generated content to improve its clarity, comprehensibility, and relevance. 

With the power of Generative AI and Prolifics’ expertise, safety and compliance in Frank’s manufacturing facility have reached new heights, ensuring a safer, more efficient workplace. 

Ready to transform your manufacturing safety and compliance practices with Generative AI? Contact Prolifics Experts today to turn this innovative use case into your business success! 

Client:

Our client is a large-scale transportation company and long-term Prolifics customer, providing innovative supply chain solutions to a variety of customers throughout North America.  Click to explore earlier work with this client.  

Challenge

Our client encountered a significant data privacy challenge, driven by the accumulation of extensive customer data. They needed to align their data practices with the California Consumer Privacy Act (CCPA), which is vital for protecting consumer privacy and legal compliance. Adherence to CCPA is essential to establish customer trust and avoid legal consequences, including fines and damage to reputation.  

The central challenge was to meet the stringent requirements of CCPA while efficiently managing their extensive and complex dataset. CCPA imposed strict regulations on collecting, storing, and using customer data, necessitating our client to ensure full compliance. This included addressing requests from individuals to access their personal data, which is a fundamental aspect of CCPA compliance.  

This case study illustrates how the transportation firm, operating within a heavily regulated industry, proactively addressed data privacy compliance and leveraged Prolifics Data Governance Solutions for success. 

Action

To address the challenge posed by CCPA compliance, our client partnered with Prolifics, a trusted provider of data governance and privacy solutions. Prolifics devised a comprehensive approach to guide our client through its data privacy compliance journey. We helped them develop a robust Data Subject Access Request (DSAR) process. This process allows individuals to request and obtain information about their personal data held by the company, ensuring transparency and compliance with data privacy regulations. Additionally, we took proactive steps to identify and protect Personally Identifiable Information (PII) and establish data governance policies and procedures, further enhancing their data management and privacy practices.  

• Maturity Assessment: Prolifics initiated the project by conducting a maturity assessment to understand the current state of data governance and privacy practices. 
• Data Mapping: A fundamental step involved identifying all customer data dispersed across various systems, platforms, and departments within the organization. To streamline this process, automated data classification tools were employed to tag sensitive information, particularly PII, enabling easier tracking and control. 
• Cataloging/Inventory: An extensive catalog of the data assets was created, detailing the types of data collected and stored. 
• Discovery: Prolifics conducted a thorough data discovery process to locate customer data in all its forms, whether structured or unstructured. 
• Mapping: Data mapping was conducted to establish clear data lineage and understand how data flowed within the organization. 
• DSAR Process Alignment: The Data Subject Access Request (DSAR) process was aligned with CCPA requirements to ensure that customer data could be accessed and managed in accordance with the law. 
• Review: Continuous reviews were conducted to assess the progress and compliance status throughout the project. 

Results

Through this comprehensive approach, our client not only achieved regulatory compliance but also realized tangible benefits, including improved data management, operational efficiency, and customer service. This transformation aligns their data privacy practices with CCPA regulations while positively impacting its business operations. 

• Enhanced Data Governance: Robust data governance policies and procedures were established, providing clear guidelines on data collection, processing, and management for CCPA compliance. 
• Efficient Data Management: A well-defined data governance operating model was implemented, clarifying roles and responsibilities within the organization for effective data management and compliance. 
• Improved Accountability: A detailed data inventory was created, ensuring accountability in handling customer data throughout its lifecycle, contributing to better data stewardship. 
• Streamlined DSAR Process: The DSAR process was efficiently set up, allowing customers to exercise their data access rights in compliance with CCPA, thereby enhancing customer service and compliance. 
• Automated DSAR Responses: An efficient technical architecture was put in place to automate and streamline DSAR responses, reducing manual effort and response times, resulting in operational efficiency gains. 
• Enhanced Data Visibility: Clear data lineage was established, providing better visibility into how customer data flows within the organization, enabling improved control and decision-making. 
• Informed Workforce: Employees received training on data privacy best practices and CCPA compliance, ensuring that all stakeholders understood their roles in protecting customer data, which contributes to a culture of data security and compliance. 

Technology

The project leveraged various technology solutions to achieve these results, including: 

• IBM InfoSphere: Used for data mapping, cataloging, and data lineage establishment. The IBM InfoSphere stack (IBM Watson Knowledge Catalog) is a suite of software products and tools used for managing and governing data and encompasses a wide range of data-related functionalities and capabilities, including data integration, data quality, data governance, and metadata management. 
• OneTrust: Employed for automated data classification and DSAR process automation, ensuring compliance with CCPA. OneTrust is a software platform designed for managing compliance with data protection regulations, privacy laws, and other governance requirements.  

About Prolifics’ Data Governance Solutions

Prolifics empowers your organization with comprehensive Data Governance services, ensuring data quality, accessibility, and security. Our proven framework enhances decision-making, regulatory compliance, customer satisfaction, and risk management. With prebuilt, platform-agnostic processes, we optimize your existing investments while embracing new ones. Partner with Prolifics to unlock the full potential of your data and gain a competitive edge through our customer-focused approach to data governance. 

Curious to see how data governance can benefit your organization? Let’s chat! Click here to connect with our Data Governance experts and discover how we can help you drive better results with data governance.

About Prolifics

At Prolifics, the work we do with our clients matters. Whether it’s literally keeping the lights on for thousands of families, improving access to medical care, helping prevent worldwide fraud or protecting the integrity and speed of supply chains, innovation and automation are significant parts of our culture.  While our competitors are throwing more bodies at a project, we are applying automation to manage costs, reduce errors and deliver your results faster. 

Let’s accelerate your transformation journeys throughout the digital environment – Data & AI, Integration & Applications, Business Automation, DevXOps, Test Automation, and Cybersecurity. We treat our digital deliverables like a customized product – using agile practices to deliver immediate and ongoing increases in value.  Visit prolifics.com to learn more. 

Client:

A prominent health insurance provider 

Challenge:

Our client, being a major health insurance provider, relies heavily on accurate and comprehensive data to effectively manage its operations. They needed a centralized repository for financial data sourced from operational Books of Record (BoR). Their BoR encompass a wide range of essential information, including policyholder details, claims processing, premium collections, and financial transactions.  

The objective was to establish a robust data ecosystem capable of supporting critical functions unique to their industry. These functions included: 

• Accounting: Our client’s financial health depends on accurate accounting records derived from their operational Books of Record. Ensuring that revenue, expenses, and financial statements are precisely documented and reported is vital for fiscal stability and regulatory compliance. 
• Regulatory Reporting: The healthcare and insurance sectors are subject to stringent regulations and reporting requirements. Accurate and timely data from operational Books of Record is crucial to meet these regulatory obligations and demonstrate compliance. 
• Enterprise-Level Business Analysis: Our client relies on comprehensive data analysis to make informed decisions, optimize processes, and enhance customer experiences. The data derived from these Books of Record serves as the foundation for enterprise-level business analysis, guiding strategic initiatives and improvements. 

This ambitious project presented multiple challenges in the realms of data governance, data quality, and metadata management. 

Key Challenges: 

• Data Governance: Our client lacked a comprehensive data governance framework to define data ownership, stewardship, and accountability. This resulted in inconsistencies and inaccuracies within their financial data, potentially leading to compliance issues and erroneous reporting. 
• Data Quality: Data collected from operational sources often exhibited quality issues, such as duplication, inconsistency, and incompleteness. These issues required resolution to ensure the reliability and trustworthiness of the data used for accounting and reporting purposes. 
• Metadata Management: As our client’s data ecosystem expanded, managing metadata, including data lineage and glossaries, became increasingly complex. Without an organized metadata management process, it was challenging to trace data sources and maintain a clear understanding of data definitions and relationships. 

Action:

To address these challenges, our client engaged the expertise of Prolifics, a leading provider of data management and analytics solutions. Prolifics implemented an end-to-end data governance solution, encompassing various facets of data governance, data quality, and metadata management. The project involved the following key actions: 

• Data Governance Charter and Vision Statement: Prolifics worked with our client to create clear objectives, principles, and goals for their data governance initiative. 
• Data Lifecycle Management: Prolifics helped establish rules for handling data from start to finish, ensuring it’s collected, stored, and used correctly according to regulations. 
• Data Governance Framework Adoption: Prolifics made sure everyone in the organization understood and agreed to the data governance framework, aligning it with business goals. 
• Roles and Responsibilities: Prolifics set up clear roles for managing data at each stage of its life, making sure everyone knew what they were responsible for. This involved defining roles for data stewards responsible for ensuring data quality and accuracy. 
• Business Glossary & Stewardship: Prolifics created a shared glossary of terms and processes to standardize data language and understanding. 
• End-to-End Data Lineage: Prolifics mapped how data moves within the organization, making it clear where it comes from and where it goes. 
• Data Quality Checks: Prolifics introduced checks to ensure data quality and created workflows for fixing issues, making data more reliable. 
• Metadata Management: Prolifics established a system to organize and manage metadata effectively. 

Results:

The successful collaboration in implementing this comprehensive data governance solution has positioned our client to effectively manage its financial data, ensure compliance with regulations, and make informed business decisions based on high-quality data.  

The implementation of the comprehensive data governance solution yielded several positive outcomes for our client: 

• Enhanced Data Governance – Better Data Control: Clear rules were in place for taking care of their data, which clarified responsibilities and made data management more efficient. 
• Improved Data Quality – Cleaner Data: The implementation of data quality checks and workflows significantly reduced data quality issues, increasing the reliability of financial data. 
• Effective Metadata Management – Organized Data: Data was now properly organized and labeled, simplifying data discovery and comprehension for everyone. 
• Increased Efficiency: Standardized processes and roles streamlined data management, reducing the time and effort required for maintaining and reporting financial data. 

Technology:

The following technology stack was utilized to implement the data governance solution: 

IBM Infosphere Stack: Prolifics harnessed the IBM Infosphere stack to deploy various components of the solution, encompassing data governance, data quality, and metadata management. The IBM InfoSphere stack (IBM Watson Knowledge Catalog) is a suite of software products and tools used for managing and governing data and encompasses a wide range of data-related functionalities and capabilities, including data integration, data quality, data governance, and metadata management. 

About Prolifics’ Data Governance Solutions

Prolifics empowers your organization with comprehensive Data Governance services, ensuring data quality, accessibility, and security. Our proven framework enhances decision-making, regulatory compliance, customer satisfaction, and risk management. With prebuilt, platform-agnostic processes, we optimize your existing investments while embracing new ones. Partner with Prolifics to unlock the full potential of your data and gain a competitive edge through our customer-focused approach to data governance. 

Curious to see how data governance can benefit your organization? Let’s chat! Click here to connect with our Data Governance experts and discover how we can help you drive better results with data governance. 

About Prolifics

At Prolifics, the work we do with our clients matters. Whether it’s literally keeping the lights on for thousands of families, improving access to medical care, helping prevent worldwide fraud or protecting the integrity and speed of supply chains, innovation and automation are significant parts of our culture.  While our competitors are throwing more bodies at a project, we are applying automation to manage costs, reduce errors and deliver your results faster. 

Let’s accelerate your transformation journeys throughout the digital environment – Data & AI, Integration & Applications, Business Automation, DevXOps, Test Automation, and Cybersecurity. We treat our digital deliverables like a customized product – using agile practices to deliver immediate and ongoing increases in value.  Visit prolifics.com to learn more. 

Client

A mortgage lender (ML) specializing in technology-driven and personalized solutions for homebuyers. 

Background: 

In the highly regulated mortgage sector, precision and compliance are paramount. Enter the Testing Center of Excellence (TCoE) and Test Automation – critical strategies reshaping the industry. TCoE centralizes testing, fostering collaboration and raising software quality. Meanwhile, Test Automation turbocharges processes, reducing errors and costs. It’s a game-changer that ensures adaptability in a dynamic market. This case study comes from Prolifics Test Automation Solutions and explores how TCoE and Test Automation are transforming mortgage lending.  

Challenge

ML embarked on a strategic mission to elevate the quality of their software products, reduce costs, streamline operations, and enhance the efficiency of their IT and development functions. However, they faced several testing challenges: 

• Understaffed Testing Team: ML faced the challenge of having too few testing experts, prompting the need to optimize testing processes. 
• Developer Involvement in Testing: They aimed to reduce developer involvement in testing through more efficient testing methods. 
• Scalability Concerns: ML recognized the need for scalable solutions to support their growing team and complex projects in line with their operational streamlining objectives. 

ML partnered with Prolifics to strategically enhance their capabilities and improve operational efficiency. This transformation centered around the creation of a Testing Center of Excellence (TCoE), a cornerstone for increasing testing efficiency, standardizing processes, and leveraging automation. The TCoE represents their commitment to streamlining testing efforts, ensuring robust and secure software releases with every step forward. 

Approach

We will collaborate with ML to establish a Testing Center of Excellence (TCoE) – a centralized framework that focuses on optimizing and standardizing software testing and quality assurance processes. The primary goal of this TCoE is to enhance the quality of ML’s software products while reducing costs and improving efficiency. 

Key Components of the Prolifics Testing Center of Excellence Approach: 

• Standardized Processes: We establish best practices, methodologies, and standardized testing processes to ensure consistency across all ML projects and teams. 
• Resource Centralization: We centralize testing resources, including skilled testers, tools, and infrastructure, allowing efficient resource sharing across various ML projects. 
• Test Automation: Our approach includes implementing and managing test automation strategies to enhance efficiency and reduce manual testing efforts. 
• Knowledge Sharing: We facilitate knowledge sharing and collaboration among testers and teams to foster continuous learning and improvement. 
• Metrics and Reporting: Our approach involves developing metrics and reporting mechanisms to measure the effectiveness of testing efforts and provide valuable insights for decision-making. 
• Tool Selection and Management: We identify and manage testing tools and technologies that align with ML’s specific needs and goals. 
• Quality Assurance: Our approach ensures that testing aligns with quality assurance principles, encompassing risk assessment, defect tracking, and validation against ML’s business requirements. 
• Training and Skill Development: We provide training and skill development opportunities for testing professionals to keep them updated with industry trends and best practices. 
• Governance and Compliance: Our approach guarantees that testing processes adhere to industry standards, regulations, and compliance requirements, particularly crucial for highly regulated industries such as finance.  

Results

By establishing a TCoE, ML will achieve greater testing efficiency, reduce manual tasks, enhance collaboration, and deliver higher quality experiences to their employees and customers. It also allows them to adapt more effectively to changing business needs and technological advancements. This shift promises to bring about the following key advantages: 

Efficiency and Process Optimization:

• Improved Testing Efficiency: Streamlined processes, faster testing cycles, and reduced duplication of efforts and resources. 
• Alignment with Release Model: Alignment with ML’s unique weekly release model, eliminating the need for repetitive testing with each release. 
• Better Test Automation: Enhanced automation strategies for higher coverage, faster execution, and improved script maintenance. 
• Resource Optimization: Efficient allocation of testing resources based on project priorities and requirements. 

Quality Assurance:

• Enhanced Test Quality: Standardized practices leading to higher-quality deliverables and fewer defects reaching production. 
• Increased Test Coverage: Comprehensive test coverage, focusing on critical business functionalities and customer use cases. 
• Reduced Escalations: With automated testing ensuring the stability of each release, the client expects a decrease in customer escalations related to software issues. 
• Improved Customer Experiences: The enhanced efficiency and reliability of automated testing are poised to lead to improved customer experiences, as software releases become more dependable. 

Cost Reduction and Risk Management: 

• Cost Reduction: Optimized resource allocation, resulting in lower testing costs and economies of scale. 
• Risk Mitigation: Proactive identification and mitigation of testing-related risks, with improved project visibility. 

Team Development and Stakeholder Confidence:

• Skilled Testing Teams: Training and upskilling lead to a more proficient workforce and knowledge sharing. 
• Stakeholder Confidence: Clear communication and reporting on testing progress, results, and alignment with business goals. 
• Continuous Improvement: Establishment of a culture of continuous improvement, regularly adapting to evolving needs and trends. 

Compliance and Standardization:

• Regulatory Compliance: Ensuring industry-specific compliance through standardized testing processes.
   

About Prolifics Test Automation Solutions

At Prolifics, we empower you with Test Automation and TestOps services tailored to your needs – so you can stay ahead in the fast-paced software world. We offer end-to-end automation testing and seamlessly integrate TestOps into your development cycle. Accelerate your testing, enhance software quality, save costs, and speed up your time-to-market. Lead in software innovation with our dedicated support.  Connect with an expert today!