30x Faster Report Generation with Flowable and AI/ML
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.
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.
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.
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.
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.
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.
