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RPA: Optimising people, processes and productivity

In an increasingly saturated banking and financial sector, it has become imperative for banks and other financial institutions to continuously evolve, remain competitive and provide excellent user experiences to their customers.

Today, banks are under enormous pressure to optimize its spends and improve productivity. Another challenge that banks face is the scarcity of skilled resources. Banks also need to have efficiency in their processes, while containing personnel costs which has paved the way for the adoption of Robotic Process Automation (RPA).

Efficient Digital Customer Onboarding: A Key to Empowering Banks

A vast majority of banks will inevitably witness a shift from physical to digital channels, mostly web and mobile. This will result in huge consequences for how they do business. Effective digital sales capabilities and streamlined, end-to-end digital origination processes will start to play an integral part as banks plan their digitization strategy. One-to-one targeted campaigns, micro-segmentation, dynamic, personalized pricing and product bundling, third-party integration (e.g. with social networks), product white labeling, and distribution through aggregators — banks need to be good at all. Such capabilities are essential for the promotion of distinctive mobile and online offerings.

Financial Crime: How Financial Institutions Can Reduce the Risks and Strengthen Compliance in the Digital Economy

In the digital age of banking, concerns about financial crime are not uncommon. PwC’s Global Economic Crime and Fraud Survey 2020 reported that 47% of companies experienced fraud in the past 24 months.[1] Although it is necessary for financial institutions to continue moving forward with digital transformation, they must take into account the risks they face along the way. This is why it is crucial for banking companies to take the requisite steps to mitigate these risks with digital banking compliance.

COVID-19 and its Impact on Financial Institutions

The COVID-19 pandemic has greatly affected daily life and slowed down the global economy. It has affected a number of industries and banking institutions have also taken a big hit. The outbreak has even brought about a change in consumer behavior like never before. Since the start of this global health crisis, the consumer demand for digital banking has increased to a large extent. Organizations that were delaying digital transformation efforts have been caught flat-footed, without the ability to deliver on a positive customer experience.

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