February 07, 2019
Meet Our New IBM-Appway Center of Competence
Appway is always keen to work with partners that bring process and industry expertise (such as in banking, insurance, or other industries) with them. IBM is a case in point. The “Big Blue,” known for being a pioneer company in patent creation, offers a range of technologies that are a great match with Appway-enabled workflows.
IBM’s cognitive assets and analytical capabilities could soon prove invaluable to banks facing mounting regulatory and compliance obligations.
How, you ask?
To begin with, Watson, IBM’s deep learning AI technology for business, can assist banks with the collection and interpretation of data.
We’re not talking excel sheets or individual document systems here, but large amounts of data stemming from an array of different sources! Think of financial market insight from providers like Dun & Bradstreet, MergerMarket, Moody’s, and Bureau van Dijk, as well as unstructured data from sources like S&P Global, Factiva, Google, and various social media.
Leveraging its unique computing resources, IBM can help banks with a contextual, semantic review of this data virtually in real-time (rather than in days or weeks, as it goes with manual processes) and on a comprehensive level (rather than fragmented). You guessed it: this speeds up banks’ customer-facing processes and reduces their business risks by a lot.
Finally, IBM can also help banks with entity identification services through record linking, like finding records about a specific individual or entity across different data services.
These capabilities are becoming more valuable for private banks as legislation requires them to expand their Know Your Customer (KYC) capabilities and link it with the content of their customer transactions (Know Your Transactions).
This is where Appway comes into play. IBM’s capabilities complement central components of our software. For example, with our Digital Binder, which enables bank employees to collectively work with external data by classifying information from multiple external resources and “plugging” that data into their internal processes and management systems.
Technology innovation aside, the new IBM-Appway Center of Competence (CoC), unveiled last week at the IBM-Appway Partner Forum, offers our customers a virtual organization—composed of Appway experts in onshore and offshore locations—as well as a refined methodology to deliver Appway projects in a controlled and cost-efficient manner.
At the Partner Forum, Julien Bernard, who is heading the CoC’s development practice, talked about the project being carried out for Union Bancaire Privée (UBP), a long-standing Appway customer. As Julien demonstrated, UBP benefits from the IBM Appway CoC in two distinct ways: First, the bank has an enhanced ability to innovate thanks to the range of cognitive solutions that it can now integrate with Appway. Second, it has become more efficient by optimizing implementation resources and has achieved greater scale by moving global process implementations to a cloud environment while keeping integrations and critical data local.
Arndt MielischMarketing Manager EMEAAppway