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Intelligent Automation in Finance & Banking


Improve process efficiency, compliance and customer satisfaction with finance and banking automation solutions

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Success Stories for Banking and Finance Automation


Digital Transformation for Banking & Financial Services

Digital Transformation, a digital-first mindset, emphasizes on reframing the way banking and financial organizations work to deliver new value propositions through leveraging RPA, AI and other advanced automation technologies. Digital transformation allows banks and financial services companies to integrate new technology solutions, bringing workflows and departments together to achieve performance gains. Reduced manual efforts, improved process turnaround time, an ability to manage end-to-end processes with minimal human involvement are some of the most valued benefits of adopting digital transformation.

Benefits of Nividous Banking and Finance Automation


Banks and financial institutions already provide comprehensive web portals and real-time account information. Intelligent Automation can further streamline many repetitive tasks across disparate legacy systems. End-to-end process automation can help them deliver more consistent services at a lower cost while ensuring regulatory compliance and gaining deeper analytical insights.

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Higher Operational Efficiencies

Significantly reduce human errors, operational costs, and processing time using Intelligent Automation Bots that work alongside different systems to automate tasks delivering speed and accuracy.

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Expedite Digital Transformation

Intelligent automation is the natural step for banks and financial institutions to move beyond siloed automation and embrace a holistic approach to accelerate digital transformation.

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Improved Customer Experiences

Fast-track deployment of customer self-service options allows free reps to focus on improved customer interactions. At the same time, software bots gather data and use chatbots for speedy response time.

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Augmented Workforces

Let your human workforce spend time analyzing data while the software bots automate manual tasks of extracting and transcribing data and documents from multiple discrete systems.

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Enhanced Data Accuracy

Let software bots execute data extraction and entry tasks for hundreds of records in a couple of hours, delivering exceptional accuracy without human intervention.

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Reinforce Compliance

Intelligent automation with flexible workflows allows you to comply with regulation changes quickly. Nividous offers several pre-built AI/ML models to detect and prevent fraudulent transactions.

Banking and Finance Automation Use Cases


Intelligent automation empowers banks and financial services providers to automate processes ranging from simple to complex at a rapid pace and scale. By combining AI and workflow automation with rules-based task automation (RPA), automation becomes a more rewarding endeavor. Streamline processes, including customer onboarding, loan processing, and regulatory reporting, with intelligent automation.

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Accelerate Loan Processing

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Simplify Account Opening

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Optimize Trade Finance

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Improve Compliance

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Account Reconciliation

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Automated Mailers

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Monthly Account Reviews

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Credit Card Requests

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Credit Underwriting

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Retail Credit Assessment

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Retail Fraud Detection

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Regulatory Reporting

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Is Digital Transformation Relevant for Credit Unions and Banks
ON-DEMAND WEBINAR

Is Digital Transformation Relevant for Credit Unions and Banks?


It is said that digital transformation has become a condition of survival for businesses in today’s world. Get insights into the role that digital transformation plays in the financial services industry, specifically in credit unions and small banks.

Additional Resources


Business Process Automation: The Step-By-Step Guide
eBook

Business Process Automation: The Step-By-Step Guide

This guide to business process automation goes beyond jargon to offer real, actionable advice. You’ll learn, how to conduct pre-planning and build a sustainable automation strategy, which jobs are most appropriate for a first automation project, and the six steps to successful automation.

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15 Innovative RPA Use Cases in the Banking Industry [2024]

Making RPA work for your bank: Targeting the right use cases.

BLOG

Robotic Process Automation in Financial Services: 3 Real-World Use Cases

Discover how RPA and intelligent automation together can transform your operations.

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Digital Transformation in Banking: What It Means in Practice

Learn how intelligent automation can elevate your digital transformation in banking.

Banking Automation FAQs


What is banking automation?

Banking automation is an application of advanced automation technologies to automate manual, time-consuming, repetitive processes so that human intervention is reduced to a minimum. The automation technologies include robotic process automation, artificial intelligence, machine learning, business process management and many others.

There are numerous use cases of RPA in the banking industry. Some of the most rewarding RPA use cases include contact center optimization, customer onboarding, trade finance operations, anti-money laundering (AML), bank reconciliation, loan application, report generation, account closure processing, etc. This blog details the use of RPA for each of the above scenarios.

In particular, intelligent automation that combines robotic process automation, artificial intelligence, and business process management technologies enables banks and finance organizations to reduce manual efforts, offer better compliance, mitigate risks, and enhance the overall consumer experience.

Amongst several use cases of automation in finance, automating order-to-cash, procure-to-pay, financial planning and analysis, revenue management, treasury operations, risk management, and general accounting operations are the most rewarding ones in delivering greater RoI in a short period of time.

Intelligent automation is allowing banks and financial institutions to achieve operational efficiencies, consistency, speed, enhanced customer service, and overall better outcomes. As software bots with AI-enabled intelligence perform manual, time-consuming tasks, teams are freed up to perform higher-value functions.

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