While working with some of the leading banks in the sector, two notable themes have come out that even the most cautious of BFS organizations should consider:<\/span>\u00a0<\/span><\/p>\n Leveraging generative AI toward revenue increase\u00a0<\/strong><\/p>\n We\u2019re helping banks recognize that generative AI is applicable to mainstream business and it\u2019s timely to start building solutions to leverage the vast majority of structured and unstructured data. We see applicability in fields from improving end-customer service and retention, to identifying new revenue sources; all of which could not be immediately apparent from traditional approaches.<\/span>\u00a0<\/span><\/p>\n At Prolifics, we differentiate ourselves in the generative AI technologies \u2013 utilizing platforms such as watsonX, as well as open source such as Kore.ai and Open.ai. We have built solutions and augmented them with super-imposed workflows to allow for more transparent auditing as well as combining human intelligence with generative AI.<\/span>\u00a0<\/span><\/p>\n Modernize mainframe applications toward risk mitigation\u00a0<\/strong><\/p>\n For decades, mainframe applications have been the proven, robust infrastructure that support our banking system. They are reliable, performing systems that have been the backbone of the industry\u2019s success. However, the majority of the programing platform is in languages such as ADABAS\/Natural or Cobol, which are no longer as common in the new age of low-code to no-code era. We see interest levels across the sector where banks have started to cut through this spaghetti. The common pattern that is coming through is to move over end points and connecting points as much to distributed as phase 1; followed by evaluation of reusing the logic on mainframe versus defining a new business model altogether. Depending on the nature of business evolution so far \u2013 as well as expected evolution \u2013 banks are recreating the 2<\/span>nd<\/span> tier from the ground up; or migrating the old logic to a distributed platform.<\/span>\u00a0<\/span><\/p>\n At Prolifics, we bring automation solutions to the banks where we can support \u201cn-to-n\u201d migration from mainframe applications to the distributed platform of choice. We do this with a proven methodology that allows for more than 90 percent automation; resulting in tremendous savings as well as code accuracy.\u00a0<\/span>\u00a0<\/span><\/p>\n Gunjan Goel<\/span><\/a> is an innovator, change agent and leader, with expertise in process improvement, customer experience, analytics and security. He has been with Prolifics for 15 years and has more than 25 years of banking and financial services consulting experience for clients across North America, Europe, and India. Goel consistently identifies and executes transformational programs that help financial institutions stay ahead in our constantly changing business landscape. You can reach him at gunjan.goel@prolifics.com<\/span><\/a>.<\/p>\n \u00a0<\/span><\/p>\n At Prolifics, the work we do with our clients matters. Whether it\u2019s 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.\u202f 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\u2019s accelerate your transformation journeys throughout the digital environment \u2013 Data & AI, Integration & Applications, Business Automation, DevXOps, Test Automation, and Cybersecurity. We treat our digital deliverables like a customized product \u2013 using agile practices to deliver immediate and ongoing increases in value.\u202f Visit\u202f<\/span>prolifics.com<\/span><\/b><\/a>\u202fto learn more.\u202f<\/span>\u00a0<\/span><\/p>\n <\/p>\n G1: Two Things the BFS Industry Should Look at – Now By Gunjan Goel, Partner, Financial Services and Banking \u2013 Prolifics Moving from 2022 into 2023 has been a challenging […]<\/p>\n","protected":false},"author":60,"featured_media":30235,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[49],"tags":[146],"class_list":["post-16233","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","tag-application-modernization","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"acf":[],"builder_content":"","_links":{"self":[{"href":"https:\/\/prolifics.com\/usa\/wp-json\/wp\/v2\/posts\/16233","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prolifics.com\/usa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prolifics.com\/usa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prolifics.com\/usa\/wp-json\/wp\/v2\/users\/60"}],"replies":[{"embeddable":true,"href":"https:\/\/prolifics.com\/usa\/wp-json\/wp\/v2\/comments?post=16233"}],"version-history":[{"count":0,"href":"https:\/\/prolifics.com\/usa\/wp-json\/wp\/v2\/posts\/16233\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/prolifics.com\/usa\/wp-json\/wp\/v2\/media\/30235"}],"wp:attachment":[{"href":"https:\/\/prolifics.com\/usa\/wp-json\/wp\/v2\/media?parent=16233"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prolifics.com\/usa\/wp-json\/wp\/v2\/categories?post=16233"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prolifics.com\/usa\/wp-json\/wp\/v2\/tags?post=16233"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
About the Author<\/h4>\n
![\"\"](\"https:\/\/prolifics.com\/usa\/wp-content\/uploads\/2021\/06\/Gunjan-Goel.jpg\" "\\"\\"")
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About Prolifics<\/h4>\n
References<\/h4>\n
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