90% of IT leaders, 85% of business leaders, and 80% of non-IT functional leaders in financial services have automation success as one of their performance goals.
Why there is a need for Intelligent Automation in Banking and Finance?
We live in a digital age; hence, no institution of the global economy is immune from the advent of the digital-first approach, and BFS is no exception. Many banking and financial institutions are struggling with legacy manual business processes which are hampering their growth. Therefore, Intelligent Automation has become the focus of intense interest in these industries.
Today businesses want to remain lean to enhance customer experience, reduce operational costs, and increase operational efficiency. Automation driven by Artificial Intelligence can augment human functions and enable the banking and finance sectors to be more competitive. To innovate faster, the BFS sector should optimistically incline toward process automation.
Banking and Finance can leverage Intelligent Automation for:
Hyper Automation Use Case Prism for Banking and Investment
We excel in the following:
- Card Management
- Front Office Servicing Tasks
- New Business Onboarding
- Account Servicing
- Account Reconciliation
- Data and Verification Checks
- Report Creation
- Convert Paper-based Data Entry
Source:
Gartner, Hyperautomation Use-Case Prism for Banking and Investment 2022, Nicole Sturgill, Farhan Choudhary, Alexander Linden, Laurie Shotton9 May 2022
We have helped several BFSI organisations in adopting digital capabilities.
Areas where Intelligent Automation can support Banking and Finance
Simplifai can help you identify the right process to automate, create a business case, and get started. Our offerings and solutions are spread across various departments and functions. Here are some of the concrete functions where our solutions can deliver business value for banking and finance.
Deliver high customer satisfaction with front-office automation
Did not find what you are looking for?
Do not worry! We can support the banking and financial sectors in a variety of other functions as well.
Book a meeting with us or send us your questions – we are happy to help..
We offer customizable Digital Employee Solution
Digital Employee is a flexible solution that can automate a variety of tasks, work in any system, and be customized for specific banking use cases. They can support and collaborate with your teams, taking care of repetitive tasks such as account servicing requests, loan assistance, card management, KYC-related inquiries, and general customer queries.
Customer Testimonial
Slide 1
NH1816 save more than 80 hours per week in manual handling
Slide 2
1 Mn Claims emails to be automated in a year
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BALIC Emailbot achieves more than 90% success for customer service.
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Eika achieves more than 70% automation grade for their claims department.
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Sødde helps Claims link handle 80% of inquiries automatically.
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Landkreditt customer service department reduces response time for customers significantly.
NH1816 save more than 80 hours per week in manual handling
1 Mn Claims emails to be automated in a year
BALIC Emailbot achieves more than 90% success for customer service.
Eika achieves more than 70% automation grade for their claims department.
Sødde helps Claims link handle 80% of inquiries automatically.
Landkreditt customer service department reduces response time for customers significantly.
According to a Delolite Report
Intelligent automation has proven to cut business process costs by anywhere from 25% to 40% on average.
Want to leverage automation for Banking and Finance?
Banner-source: Gartner, 2021 Business Impact of Automation Initiatives using KPIs Survey, Financial Services Business Leader Research Team, 2021
Disclaimer: Gartner does not endorse any vendor, product, or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designations. Gartner’s research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
