Alongside advancements in technology, the rise of industry disruptive fintech’s has meant that the banking sector must continue to innovate and provide new solutions for their customers. Our Intelligent Automation platform gives banks the agility that they need to compete in today’s marketplace.
Challenges Facing the Banking & Financial Industry
- Evolving customer expectations
- Lack of trust and transparency
- Complex fraud
- Increasing competition from fintech
- Retention of customers
- Regulatory compliance
- Outdated online and mobile banking experiences
- Data security
- Error-prone manual processes
Building on Existing RPA in the Financial Sector
The financial sector has embraced technology, with big data software, computer algorithms, and online banking processes forming an essential part of daily operations. RPA is already widely used within the industry, but these solutions focus on rule-based, manual tasks such as data processing or chatbot automatic query responders. Intelligent Automation platforms take that to the next level, offering service orchestration to achieve an organisation’s goals. Integrate with your existing automation infrastructure for a digital evolution that will grow your business.
Service Orchestration within Banking
Service Orchestration and Process Automation strategically bring together tasks, workflow, and processes to achieve your business objectives. Cortex’s unified platform orchestrates the threads of banking and financial processes together in a data-driven environment to meet your goals. Let Service Orchestration technology transform your business today.
Intelligent Automation for Banking
Cortex’s intelligent platform can span across your organisation and be applied to your financial processes. Key areas for consideration for automation include:
Automation for Customer Experience
Process loan applications, credit queries, interest calculations, and credit decisions with Intelligent Automation. Remove friction points and deliver straight-through processing leaving skilled customer-facing employees to complete personal transactions such as mortgage applications or those which assist customers financial well-being.
Automation for Compliance
Legislative and regulatory drivers are increasing the need for companies to perform more detailed audits. This is especially true for applications that hold data that is business critical, personally sensitive, or operationally essential. Intelligent Automation delivers end-to-end audit trails for full compliance, reducing the time to undertake these crucial activities from weeks to minutes.
Automation for IT Operations and Enterprise Services
Transform your business services across departments including IT, Finance and HR. With Cortex’s unified platform, you can address line of business challenges with a single solution.
Intelligent Automation Opportunities
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.
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.
Improving Customer Service:
Enhance the customer onboarding process, manage customer details and deal with enquiries efficiently. Cortex’s platform ensures guest experience that will set your business apart, allowing you to deliver outstanding customer communications.
Have Confidence in Lending:
Reduce processing time loan applications, make smart interest calculations, gain confidence in delivering credit decisions and benefit from end-to-end processes with Cortex’s Intelligent Automation platform solution.
Deal with complex fraud, lost cards, direct debit cancellations, processing payments, automated bank transfers, direct debit checks and more. Cortex’s end-to-end solution can manage your entire payment processing operational outputs.
The Benefits of Intelligent Automation For Banking
Retain strategic control and management as you deliver zero-touch operations with Intelligent Automation. Financial service benefits include:
Designing Your Insurance Strategy & Methodology
In order for your banking or financial service to succeed at automation, you’ll need a defined strategy and methodology applied to your project. Understand the role automation will play in your organisation and identify how it can integrate into your existing ecosystem for a digital evolution. Get in touch with our experts today to design a strategy that will transform your business.