SUCCESS STORYIndustry• Government

Solution• OpenText™ AppWorks™

Partner support• Counterpoint Consulting

Results
Accelerated the licensing
process and improved
productivity for internal andexternal users with new portal
Reduced expenses byconsolidating application
development onto a single platform
Promoted uptime for all
critical applications with a leandevelopment team trained on thesame system

US State bolsters consumer
protection and economic growth

Financial regulation departments develop applications for faster,
cost effective licensing with OpenText™ AppWorks™
“Using OpenText
AppWorks, we
now have ashorter licensing
turnaround time.”
Cross-agency Application
Development Director
US State financial regulator

US State bolsters consumer protection and economic growth

Working to ensure a robust marketplace that is safe for its citizens,
financial regulation departments within a Northeastern state of
the U.S. sought a faster, one-lane track for licensing. They are now
running with OpenText™ AppWorks™.
For the State, the Banking and Securities Department regulates andlicenses traditional and non-traditional financial companies, adapting
to changes in the market including the rise of fintech services,internet-based money transmitters and digital-first insurers.
In response to shifting needs, the institution combined previouslyseparated banking and securities departments. The consolidated
government entity began streamlining operations in 2012; however,to conduct licensing, the Department continued to operate multiple
systems on separate platforms, incurring expenses with each.
Also, since developers were not cross-trained on applications, thestructure lacked back-ups when needed.
Both IT and business specialists recognized the need for change,
according to their cross-agency application development director:“What we had in place was not sustainable, from a cost ormanagement perspective,” he said. “The Banking and Securities
Department secretary wanted a single system for ease of use,ease of reporting and increased manageability overall.”Upon review, the director and other professionals tasked withapplication development whittled the field of options to two vendors:
OpenText, a leader in enterprise information management, andanother company with a strong presence in the banking industry. In
conversations with his counterparts in other states using the lattervendor, he noticed a pattern: “They were having difficulties completing
their services; implementations were not going well,” he noted.

In contrast, the director and his team observed positive results
and reviews for OpenText installations. They worked with Virginiabased service provider Counterpoint Consulting to replace allprevious platforms with OpenText AppWorks, a low-code application
development solution designed to increase developer agility anddeliver intuitive user experiences, among other capabilities. “WithOpenText, I have everybody trained on the same platform,” he said,
noting newly-developed apps support his objective for the use oftechnology to create efficiencies and reduce costs.
In the case of the Banking and Securities Department, licensing
automation eases and expedites a process essential to consumer
protection and economic growth. Rather than suffering delays inpaperwork or email clogs, all licensing is now completed on a secure,
digital self-service web portal powered by AppWorks.
Licensees complete and submit applications or changes within theDepartment Portal; tasks then automatically flow to professionals in a
step-by-step process. Individuals and institutions receive automatednotices and web-based questionnaires as well as access to aconvenient, yet secure location to upload examination materials.
The portal also eliminates the costs and delays of overnighting large
application packages and allows all parties to track documentationand online payments for a fully digital experience. “We receivecompliments from licensees on the ease of use of the systemcompared to the way things were before,” the director said.
Furthermore, procedures were streamlined with AppWorks and theDepartment portal advances output. “Using OpenText AppWorks, we
now have a shorter licensing turnaround time,” he said. “The review
process is a lot faster because staff members no longer have toretype information. They just read, review and approve or reject.”“We receive complimentsfrom licensees on theease of use of the systemcompared to the way
things were before.”
Cross-agency Application
Development Director
US State financial regulator

US State bolsters consumer protection and economic growthState departments including Insurance and others are realizing
additional efficiencies and cost-savings with AppWorks as a single
source for automating processes, eliminating duplicate expenses
for maintenance and managing multiple technology platforms.
Furthermore, uptime is maintained for all apps by three developers
shared across several departments, avoiding additional overhead thatwould have been required with separate systems.
The objective to use resources wisely is not only sought for Statetechnology and personnel, its departments providing consumer
protection and regulation also seek to empower residents to use
their resources wisely. Individuals and companies are then able toprovide for necessities, safeguard investments and grow businesses,
benefiting the local economy.
Still, digital transformation of established systems can be challenging;for instance, migrating data from four systems into one proved aformidable undertaking. Though curveballs and last-minute changes

threatened to derail implementation of a consolidated solution for theUS State financial regulator, the director said Counterpoint handled
everything in stride. “They were professional and accommodating
throughout the whole process—at times, more than I expected,”he said. “It is a partnership that we’ve continued.”
In response to user requests, the director said the State financial
regulation departments plan to automate other processes, including
a training application and an add-on to exam scheduling. He related:“I’m sure we’ll see more benefits as we move down the road.”PartnerCounterpoint Consulting
Founded in 2006, Counterpoint Consulting delivers solutions tocustomers across the United States which integrate best-in-classautomation, content management, analytics and machine learning.
www.counterpointconsulting.com

About OpenText
OpenText, The Information Company,
enables organizations to gain insight
through market leading information
management solutions, on-premises orin the cloud. For more information about
OpenText (NASDAQ: OTEX, TSX: OTEX)
visit opentext.com.
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04.22 | 19482.EN