Intelligent Automation is changing the way banking and financial services operate. From increasing efficiencies and improving customer experience, to minimising fraud risk and removing human error, there are a number of challenges facing the banking industry which IA can help solve. Find out three specific areas where IA can revolutionise the way banks operate today:

Intelligent Automation Solutions for Financial Service Providers

IA Solutions Help Banks Deliver:

  • Automated counter measures upon detection
  • Reduced loss and impact of fraud incidents
  • Increased security and minimised risk
  • Auditability governance and improved regulatory compliance
  • Machine speed operations in fraud processes

Fraud detection and risk removal is a vital consideration for all banks. In an increasingly digitalised landscape, the avoidance of fraud is essential to meet compliance, retain reputation and ensure the ongoing trust of customers. By orchestrating the management of fraud ‘red flags’ an Intelligent Automation solution can minimise the impact of fraud on a bank. A unified intelligent automation platform can categorise fraud, block accounts, inform clients and escalate to agents with unrivalled speed and accuracy.

 IA Solutions Help Banks Deliver:

  • De-risked internal operations
  • Improved oversights in processes
  • Increased business agility
  • Machine speed operations in processes
  • Comprehensive audit trails for governance and compliance
  • Same day response capabilities

Compliance is a complex, and integral, part of banking processes. The importance of meeting internal and external regulations means that, for many banks, compliance procedures are a resource-exhaustive department of operations. With challenges like legacy systems and data silos, the task of achieving compliance is made even harder for financial companies. A single, unified solution from Intelligent Automation can improve the quality, accuracy, and flexibility of processes, helping future proof the business and ensure banks can successfully meet new regulations in the sector.

 IA Solutions Help Banks Deliver:

  • Minimised financial penalty risks
  • 100% validation of new customers
  • Improved customer experience with 24/7 operations and same day responses
  • KYC regulation compliance
  • Comprehensive audit trails for governance and compliance

KYC regulatory compliance ensures that financial service providers vet all new client applications for possible fraud, money laundering, drug trafficking or other criminal activity. The complexity involved (credit agencies, police records, workplace checks and more) means banks must assign resources to due diligence research, validation, and approval of applications. Intelligent Automation can automate this process, collecting and correlating data, applying defined requirements, and adjudicating a decision on approval.

Automate Banking Processes Today with Cortex Intelligent Automation

Solve industry challenges, bring new products to market and future-proof your business, all by integrating IA platforms within your financial infrastructure. To book your free discovery session, get in touch with our specialists today.