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iReceivables Blog Series – Part 1

In my iReceivables blog series, I’ll give a high level overview of iReceivables, its pros and cons and will also provide some tips for a successful implementation based on experience I’ve gained over the years. Overview iReceivables, is part of Oracle’s Credit to Cash software solution, its main purpose is to provide a portal where […]

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Digital Intelligence and the Role of Data in Personalization

Welcome to 2019 where things take an interesting turn, or, materialize as predicated for so long. In a data-driven environment, it is no surprise that this year Information Executives (CIO, CDO, CTO, CAO) focus on the following topics according to IDG, Gartner, CIO, and Forrester: Trying to figure out ways to increase IT Budget to […]

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The Minimum Oracle Cloud Project Contracts Setup

Differences exist between Cloud Project Billing and EBS Project Billing. Using Oracle Cloud Project Contracts exclusively is one of the differences. In EBS “Project Funding” we create an approved revenue budget, baseline it, setup the agreement and lastly fund the project/task. Utilizing Oracle cloud project contracts raises questions of how the former “funding” is achieved […]

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Data Lakes, Not Just For Analytics Anymore

Data Lakes have been around since the early part of this decade as most Fortune 500 companies have a Data Lake or are building a Data Lake. The drive to lake data has predominately been driven by analytical use cases where Data Scientists can wrangle and prepare data for their study or model building. However, […]

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Cloud Technology Has Changed the Game

I have just returned from the Gartner Application Strategies and Solutions Summit 2018. This was one of those conferences where it turns out to be something different than what you expected. The agenda was a solid blend of educational sessions, networking opportunities and meaningful keynotes. Like many conferences, the real value comes from hearing from […]

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Trust Must Be Earned at Every Point During the Client Experience

Whether you think Facebook users don’t understand what information of theirs is subject to disclosure (user’s fault) or Facebook needs to provide more education and acknowledgement of risk to its users (Facebook’s fault), no one can argue it’s been a rocky year for the company as it works to regain user trust. In the rush […]

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AllianceBernstein’s Mobile App Empowers Sales Teams in Real Time

How to Best Enable On-the-Go Sellers What if you could improve the customer engagement experience and provide your sales team with a customer-facing toolkit? And what if it gave real-time insights? And what if it was mobile? Do you need proven effectiveness, because it’s got that, too. Meet SIMON (Sales Intelligence Mobile Optimized Network). Perficient’s MicroStrategy […]

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Developing PaaS Using Step Functions and Hashicorp Tools

Introduction: Cloud tools now have the ability to let DevOps deliver cloud infrastructure along-side applications that are deployed on it. Did I just say, build a PaaS solution? Commercial PaaS solutions like OpenShift and Pivotal Cloud Foundry can be expensive and require specialized skills. They do speed up development and keep your enterprise cloud adoption […]

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With RPA, You’re One Step Closer to AI

Recent research from the Digital Banking Report found that only 13% of financial organizations globally have deployed at least one artificial intelligence (AI) solution. 27% believe they will have an AI solution in place in the next 18 months. 37% say they will consider an AI solution within the next 18 months, and close to a […]

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Getting Started with California Consumer Privacy Act Compliance

Compliance with the CCPA requires robust processes for identifying, governing, distributing, and securing consumer personal information. The first steps are to document the current usage of this information: Data inventory: Generate lists of personal data related to clients, investors, employees, counter parties, prospects and other entities. Data recipients: Compile a list of entities, such as […]

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The Innovation Dilemma in Financial Services

Customers place a lot of value on innovation when selecting financial services products. They now identify “Innovative” as an attribute that stands out in terms of differentiation. Yet, most retail banks and credit unions struggle with innovation (as do most companies). In 1997, “The Innovator’s Dilemma” was published. It is considered one of the most […]

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Wealth Management: An Industry at a Crossroads

The wealth management industry currently stands at a crossroads that is driving firms to adapt and update business models in order to succeed into the future. Future growth will come less from marketing and rainmakers, and more from your firm’s service model and the ways in which these services are delivered. You will have to […]

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Perficient Helps Adjust to the California Consumer Privacy Act

The first step any financial institution must take in its response to the new CCPA law is to evaluate its exposure and current state of readiness. We can help firms identify gaps, including areas that need immediate action and longer-term changes to support the program. Areas that may require immediate action include any of the […]

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New Data Shows Why Consumers Change Banks

We know that banks and credit unions have long relied on inertia as one of the primary forces that kept consumers from switching. You literally had to be driven away by horrible service or high fees – it was just way too much of a hassle to change accounts, get new checks and set up […]

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Do AI Applications Have a Limit in Financial Services?

Dominant financial services institutions, currently, focus on; a scale of assets, mass productions, relationship exclusivity, switching costs, and dependence on the integrity of humans. However, the future will change with the assistance of artificial intelligence. With the adaptation of new technologies, leading companies will begin to implement data-driven decisions, personalized customer experiences, and workflow optimization. […]

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The Importance of Data Lineage in Data Governance

Data lineage is the capture of the flow of data from the source through intermediary systems and data transformations to a final destination or consumer. Having good data lineage provides a means to confirm that data used by consumers is from trusted, authoritative sources with adequate controls in place to govern the hand-offs between systems. […]

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Align Your Business Model with Millennial Values

Build trust by aligning your business model with what Millennial investors value. Millennial investors tend to be confident and independent. They want an adviser to do something they can’t do themselves. Business models – supported by appropriate technologies that include taking the time to understand where Millennial investors are getting their information, what influences their […]

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Expect Challenges with the California Consumer Privacy Act

Compliance with the CCPA will be challenging because it represents major changes in how financial institutions conduct their business. DATA DISPERSION Consumer personal data is often scattered across multiple internal platforms and shared with many third parties. Firms may not have a full picture of where this information is stored and how it is controlled. […]

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Establishing Authoritative Sources in Data Governance

Establishing an authoritative sources capability confirms the enterprise approved source for data ownership, including both origination and distribution. Before a financial institution can agree on authorized sources of data, there must first be a common understanding of the type of data being sourced. Data will need to be classified in an agreed-upon enterprise data model. […]

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Consider Maturity, Limitations, and Appropriateness of New Tech

Digital transformation initiatives should also consider the maturity, limitations, and appropriateness of artificial intelligence, machine learning, and robotics technologies. Again, look to other industries for insight. If you believe the automotive pundits, fully autonomous, driverless cars are only months away. Google and Tesla told us they would have fully autonomous cars by 2018; GM planned […]

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