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JUNE 24, 2024

Cambridge Technology Financial Services, Inc. (CTFSI) specializes in artificial intelligence and machine learning (AI/ML) products that enhance critical business processes for the financial services industry. Flowable is an open and intelligent business automation platform to automate end-to-end processes. Its process orchestration capabilities allows organizations like CTFSI to augment human-centric processes with machine intelligence.

Speed and standardization with Flowable and AI/ML Services

For a leading US bank serving over 90% of Fortune 100 companies, the process of onboarding funds and re-creating annual and semi-annual regulatory reports was consuming as much as 6 months per report. Manual extraction of text and data from numerous historical reports – using non-standard tools like Excel, Word, or handwritten notes – and compiling into the bank’s templates was a labor-intensive and error-prone process.

CTFSI used its Unstructured Data Processing platform (UDP), to build a solution powered by AI/ML and workflow models that analyzes document content, identifies similarities across sections, and auto-generates standardized report language. Leveraging Flowable as the orchestration layer of the platform, the new solution allows banks to create reports in well under a week.

With CTFSI's solution, the UDP platform, the US-based bank is removing barriers to onboarding clients from competitors, demonstrating an understanding of a client’s preferences, and decreasing the time to realize revenues.

Cambridge Technology_Ryan Phair

The task of analyzing and generating report templates used to take up to six months. We've seen it now reduced to one or two days.

Ryan Phair, Principal, Cambridge Technology

CTFSI’s AI-driven solution benefits include:

Up to 30x faster report generation.
Standardized outputs that satisfy regulatory compliance.
Reallocation of resources to higher value activities.
Increased speed-to-revenue.

Reducing time-to-market with Flowable

CTFSI faced common challenges in application development: The complexity of the use case, rapidly changing requirements, and prolonged development cycles. To mitigate these challenges, CTFSI selected Flowable as an orchestration platform because it met the following criteria:

  • Adherence to the OMG Open Standards like BPMN, CMMN, and DMN.

  • Model-driven low-code approach to accelerate development.

  • Easy integration with any technology stack – including cloud and on-premises systems and APIs.

  • Highly customizable user interface.

  • Ability to operate in headless mode.

  • Backward compatibility for version upgrades.

Cambridge Technology_Nicholas Smith

With Flowable, we were able to completely rethink app development. The feedback from our client was also extremely positive. They were blown away at our ability and time to market to create this application.

Nicholas Smith, Principal of Business Process Transformation, Cambridge Technology

Previously, application development was a race against time, often impeded by the complex and ever-changing requirements of financial services solutions. Robust workflow and automation capabilities like those available in Flowable enabled CTFSI to significantly reduce development time and moved from concept to deployment at a previously unattainable pace – without sacrificing the quality or customization that clients demand.

Developers are now more agile and able to respond swiftly to changes in project scope or client requirements. This agility enables stakeholders to participate in faster development cycles and ultimately results in a product that more closely matches requirements. Reducing time-to-market for new applications has become a key competitive advantage for CTFSI.

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Orchestrating AI/ML with Flowable

CTFSI's solution utilizes Flowable as a process orchestration engine to seamlessly integrate AI capabilities into human workflows. The flexibility of Flowable to orchestrate processes utilizing case management architecture, allows CTFSI to handle the complex blend of activities involving human decision-making and automation.

The advanced process modeling facility within Flowable enabled CTFSI to design and execute sophisticated workflows and detailed process maps that outlined the report generation cycle, standardizing the end-to-end process.

Cambridge Technology_Ryan Phair

With Flowable as a core orchestration layer, we can rapidly build and deploy AI-powered applications tailored to client needs.

Ryan Phair, Principal, Cambridge Technology

By leveraging Flowable's case management capabilities, CTFSI was able to keep humans in control of the process, augmenting their decision-making abilities without forcing them to adhere to strict pre-defined process steps.

At the core of the CTFSI solution is the seamless integration of AI/ML similarities, and differences across reports. The flexibility to adapt to various scenarios within report generation means that clients can expect a consistent, reliable output tailored to their specific regulatory needs.

In this instance, the CTFSI’s solution does not create the report independently; instead, it assists humans in analyzing and compiling the information more efficiently. Flowable was able to facilitate the collaboration.

Cambridge Technology_Nicholas Smith

Flowable's case management capabilities allowed us to model the end-to-end process by looking at all the angles, not just the sequential workflow.

Nicholas Smith, Principal of Business Process Intelligence, Cambridge Technology

Shaping the future with Flowable and AI

At the heart of CTFSI’s value proposition lies a rapid development process. Using Flowable in the software development lifecycle has helped enable the CTFSI the team to deliver products with unprecedented speed and efficiency. CTFSI plans on taking the robust foundation they have established, customizing it further to suit a variety of other financial services use cases.

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