In this digital age, institutions providing financial services should be one of the first to adapt to new technology. Digital transformation platfoms are already making a difference in the user experience as well as back end services. With AI and Machine Learning, business automation solutions can put thinking into daily work, making them more helpful. Financial institutions has a huge scope of automation for the large number of manual and mundane processes.
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Pain points identified by Subject Matter Experts
Financial Institutions have some glaring issues that we have identified which can be helped with simple Automation
Financial institutions are largely dependent on manual processes. These increase process execution time and inefficieny due to external factors.
This industry is the main backbone for any economy. For this reason, it is strictly regulated and has to be compliant to many rules.
Due to outdated design elements and lingering bugs in solutions a lot of process debt has been accumulated in workflows over time.
The early adoption of technology in financial institutions has now left them with legacy systems which do not integrate with new systems.
Pre-Configured Business Apps for Financial Services
Here are a few tried and tested things that can be done to help your organization start it's digital transformation journey
Create impactful customer experiences using AutomataPI's DAX platform which guides users through the entire process of case execution, automating related tasks and activities while also allowing for human involvement in decisions that are not fully automatable. It is possible for companies to empower their agent with this system to reduce TAT and meet SLAs effectively.
The document signing application provides consumers and professionals with a simple way to electronically sign and return documents from almost anywhere in the world. Allowing for multiple iterations for finalisation with multiple parties involved, the solution can be set up in a few clicks. The end user does not have to download and additional apps or devices to start using this system.
One of the USPs of the platform, this feature allows extraction of data from a multitude of document types and insert them in structured Data Models. Companies can avail of the most versatile document verification utility of this solution for solving most KYC related manual tasks which take up a lot of man power.
User data security is one of the corner stones of any modern company. It takes a lot of effort and money to onboard and retain customers. Using our platform you can guarantee that this data is stored in an encrypted format and can only be accessed after authenticating using various factors and compliances.
This solution is a shoe in if you have data coming in from multiple channels. It has connectors, pollers, chatbots and a form builder which can be used for getting input from various sources, devices and systems. These tools allow instant integration in your own application or can be used as a standalone workbench for users as well as agents.
People use platforms for managing ticketing. The AutomataPi platform ensures auto categorization according to context of the tickets. Assignment of the tickets can also be done to agents according to theit skills to improve overall TAT. Low value ticket resolution is also possible so that agents can concentrate on more important tasks.
The solution has been used to track complex campaigns from multiple sources and collate the data in a Data Model. The data was further pushed into the existing data hub of the company(LeadSquared). Further payment link integration with multiple vendors for direct payment. All other customer communication was done using the built in API connectors.
Sales executives can upload data in a variety of ways to the central processing system which then can connect to the AutomataPi digital transformation platform and agent benefits can be calculated withing a few hours using defined formulae. Where it used to take months, the payouts to the agents can be done in days.
The DAX platform is so versatile, that it has been used as a tool for complete consumer communication, including greivances, reminders, up-sell and cross-sell opportunities. The customer one view also allows for an agent to track the complete customer lifecycle and use it as an IVR verification assitant.
Verifying genuiene customers using documents is the most essential tool in your digital transformation journey. Any onboarding journey can just plug and play this solution into their existing system and can cut down on the time required to verify their customers. An added advantage that the data extraction feature can be activated by the click of a button.
A lot of manual processes are involved from buying of a policy to verifying documents of a customer to claim registration to disbursement. AutomataPi offers a comprehensive solution which can be useful in each aspect of the loan journey. It's integration capability with 3rd party APIs allows it to tie in to your existing system and empower your agents.
How our clients have benefited by using AutomataPi's platform
AutomataPi is a outcome driven automation platform that helps organisations to automate their business workflows.
