Tuesday, 05 May 2020

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.”

2020 IBM Beacon Award Finalist

Prolifics Open Banking SaaS Solution Recognised in Outstanding Hybrid Cloud Solution Category

The Prolifics UK Innovation Lab originally implemented the solution for a large British banking organisation 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 organisations 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 organisations
  • 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 organisation 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 organisations seeking to innovate business practices in an open banking, API-centred 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 Recognised in Blockchain-Supported Interoperability for Healthcare Solution Category

Prolifics Blockchain Solution is a product of our Innovation Center. Recognising 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 organisations, 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 or prolifics.co.uk.

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