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Challenges
- The insurer receives group payments from partners and small-business customers. These payments were processed to policy admin and file storage systems. The client was using a manual process, which was error-prone and inefficient.
- The payment processes had redundant stages and multiple technology interfaces in the pipeline, which lead to high maintenance costs and no traceability of the data.
- The business validations in place were minimal. The absence of reject notifications sent to the business users resulted in high dependency on the IT/operations team for data correction and reprocessing.
- The client did not maintain partner profiles for easy reusability, and new partners and customers (over 6000 groups) were onboarded from various legacy systems.
Solution
Mindtree designed and built an automated Informatica B2B Exchange system to receive payments from distinct payment partners and third parties and integrated it with the policy admin and file storage systems.
- We used B2B data transformations to process unstructured data from small business partners who provided data in diverse formats, such as XML, Excel, CSV, txt, PDFs, etc.
- Mindtree team utilized the Data-Exchange (DX) Console to create reusable partner profiles and efficient monitoring of business events with a built-in retry mechanism to manage system failure cases.
- Implemented Managed File Transfer (MFT) protocol for secure transfer of files between the source and target end-points.
- Improved the Reject and Error handling mechanism with timely notifications for easy data correction and reprocessing.
- Built-in Business Activity Monitor (BAM) with a suite of dashboards, which helped to track business events and generate reports.
Benefits:
- Streamlined orchestration with 100% elimination of manual processing for profiled groups and reduced support Full-time Equivalent (FTEs) by 50%.
- Increased productivity due to active monitoring of data and improved notifications to ensure timely and relevant responses.
- Implemented a fully automated B2B solution for the client’s group payments in template format. This can be extended for the extraction of new data formats and other processes
- Enabled business data managers, analysts, or operators (~50 users) to configure and manage partner profiles, onboard new partners, fix errors, and reprocess, if needed, without the need for an IT intervention.
- The adopted modular design increased reusability, eliminated data and technology redundancy, and enabled faster time-to-production. Integrated efficient utilization of BAM dashboards to continuously monitor B2B business events to make smarter decisions, measure and define SLAs.
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