Increase the accuracy, scalability and flexibility of your Banking, Financial Services or Insurance operations using Cortex.

Transforming Operations:

Augmenting existing systems, Cortex deploys rapidly and puts change in the hands of the business owners, so that incremental, transitional and transformational change is low cost, low risk and highly effective.

Gaining Efficiencies:

Organisations with existing operations and fragmented systems are transformed into highly efficient automated end to end processes. Cortex uniquely supports orchestration of systems and services, automation of tasks, user interactions and self-service.

Increasing Operational Effectiveness:

Capturing, refining, and automating business processes increases accuracy and reliability. Organisations benefit from increased scalability and flexibility of business operations.

Increasing competition is driving more creative methods to improve Banking, Financial Services and Insurance operations.

Technology innovations and the rapid move to digital ways of working are creating new market opportunities. To remain competitive, organisations must rapidly deploy new operational processes efficiently to support the evolving business.

Organisations require improved agility, performance and reliability with their operations, and must address the ever-present reduced cost pressure.

Unlike traditional methods of automation, Cortex brings three decades of advanced process control knowledge and technology to business and Insurance processes. Providing a graphical, intuitive, low code, user interface the Cortex Intelligent Automation Platform enables business stakeholders to directly capture and manage new and existing operations with the process owners, not IT, at the heart of the automation.

EXAMPLE USE CASES

Challenge:

A manually intensive claims handling process, managing multiple sources of claim submissions. Manual inputs are prone to incorrect or missing information impacting on claim-processing time.

Solution:

Cortex Intelligent Automation removes processing challenges, correlating, validating, enriching, and enhancing the information provided.

Outcomes:

          • 95% Improved Claims Handling Speed
          • 8x Improvement in Quality & Accuracy
          • Increased Customer Satisfaction

Challenge:

The process of origination and adjudication for new loan queries and applications can be lengthy, require correlation and validation of multiple documents, and be at risk of human error which can be problematic to trace for a highly regulated industry.

Solution:

Cortex Intelligent Automation correlates required documentation, apply relevant business rules and policies, and orchestrate the processing to point of approval

Outcomes:

          • 100% Accuracy
          • Fully Automated Audit Trail
          • Increased Business Revenues

Challenge:

A lengthy manual process to complete a claim was having a significant impact on the volume of claims a US long-term life cover insurance company could manage.

Solution:

The Cortex Intelligent Automation platform retrieves all required information from the systems involved and orchestrates the initial assessment of the claim.

Outcomes:

          • Accuracy Improved by 98%
          • Increased Operational Scale
          • Increased Business Revenues
          • SLAs Achieved

Challenge:

Compliance processes are, as part of their nature, renowned for their complexity. Implementing new requirements can take large teams an extensive amount of time which can be hard to source due to a lack of skills, capabilities, or required experience.

Solution:

Intelligent Automation improves the quality and accuracy of verification, reduces processing time for compliant clients, and delivers improved oversight and operational efficiency for the organisation.

Outcomes:

          • Full validation and audit capabilities
          • Reduce structural cost
          • De-risk operations

Challenge:

Information and supporting documentation from various channels and sources must be verified for new client applications to meet strict KYC regulatory compliance.

Solution:

The Cortex Intelligent Automation platform collects and correlates the data provided, analyses the information to confirm it is complete and the format is correct and then applies defined requirements to adjudicate the rating/onboarding decision.

Outcomes:

          • Same day response for onboarding new clients
          • A full audit trail for compliance
          • Increased new client satisfaction