Intelligent Automation in Finance & Banking
Improve process efficiency, compliance and customer satisfaction with finance and banking automation solutions
Trusted by Leading Banking & Finance Firms Globally
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.
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.
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.
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.
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.
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.
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.
Accelerate Loan Processing
Simplify Account Opening
Optimize Trade Finance
Improve Compliance
Account Reconciliation
Automated Mailers
Monthly Account Reviews
Credit Card Requests
Credit Underwriting
Retail Credit Assessment
Retail Fraud Detection
Regulatory Reporting
Hear it From Our Happy Clients
Discover how we’ve helped your peers succeed.
“Signing documents with a digital signature is a complex process requiring strict compliance check. Nividous RPA Bots successfully automated the process saving us a considerable amount of time, effort and cost. We have also utilized Nividous platform to automate the end-to-end generation of over 18 reports, covering risk, operations and portfolio management functions.”
Sanctum Wealth Management Private Limited
Head of Technology & Transformation
“Today, our customer service delivery officer needs to just key in a few data fields such as the customer account number for Nividous Bot to grab data and statements from the relevant websites to generate a consolidated report. We plan to extend the functionality to allow these requests to come from the customer via our website directly with an AI- or self-service- enabled chatbot.”
Edelweiss Financial Services
Senior Vice President
“With the help of Nividous platform, we have realized a more than 70% reduction in the time required for franchisee onboarding. Our employees are now spending more time on value-added tasks.”
Nirmal Bang
Vice President – IT and Automation
“The Nividous platform has helped us automate many processes related to MIS, reconciliations, and reporting, totaling around 15 to 20 processes. This has saved us approximately 1,000 man-hours monthly, allowing us to improve efficiency and utilize resources in different roles. Both my management and I are satisfied with what we have achieved using the Nividous platform for the past two years.”
Ambit Finvest Pvt. Ltd
Senior Manager – Process Excellence & Automation
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
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.
BLOG
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.
BLOG
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.
Where can RPA be used in the banking industry?
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.
Why is automation important for banks?
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.
What can be automated in finance?
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.
How automation is transforming the banking industry?
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.
Start Your Finance and Banking Automation Journey with Nividous
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