Digitalization in banking

In the course of the digitalization in banking, business process automation is increasingly becoming a key success factor for banks and financial service providers. The challenges here are significant, with increasing competition, demanding customers and an increasing number of regulatory requirements in terms of data protection and compliance putting companies under pressure.

There is potential for digitalization and automation both when dealing with customers and investors and also for internal workflows, such as anti-financial crime, governance, risk and compliance (GRC), know your customer (KYC), processes, payment transactions and many others. The primary focus here is on the optimal control of processes and organizational workflows without media discontinuities. Networked systems can make an important contribution towards using existing resources better while increasing efficiency and transparency, not to mention added security both in GRC applications and in data protection. This all paves the way towards added innovation, service orientation and customer satisfaction.

• The intelligent recording and evaluation of data makes the customer onboarding process a positive experience. Data and information are managed efficiently in a single process so that errors and multiple data entries can be eliminated.
• The digital networking of existing systems (core banking systems, customer management, consultation systems, AFC systems, payment transaction systems etc.) guarantees the rapid processing and provision of business-critical information, leading to fast, reliable decisions.
• Customer contact is possible via all channels and devices (directly and in writing, via phone, computer or smartphone). Content is mapped and consolidated in one application, thus ensuring the processing of data without media discontinuities.
• The combination and integration of information tools and systems accelerate banking processes such as credit applications, processing and analysis. The result is a reduction in time to yes at the customer of up to 70%.

The possibilities for process automation are numerous and are driving digitalization in banking. An intelligent process automation platform is required here that acts as a central hub for all workflows, organizing the technologies, tasks and functions and coordinating them perfectly with each other. The integration of additional tools (RPA, AI, machine learning) also allows for the integration of highly complex processes. The correct, secure processing and handling of data and information is ensured throughout. Access via different devices (desktop, tablet, smartphone) is made via an application that incorporates all areas of the bank. Furthermore, a cloud-based platform allows for comprehensive networking – even across multiple sites.

Banks and financial service providers need a reliable partner who understands the challenges seen in the industry. Regardless of whether you start small and automate additional processes gradually or implement a major automation right from the outset – by implementing a holistic solution and a comprehensive strategy, we can accompany you on the path towards digital transformation. Processes can be automated and managed more efficiently and with fewer errors than ever before using the business process automation platform from Axon Ivy. This means you can rely on us to ensure smooth processes, leaving you to concentrate on your core business and skills.