The Problems and Challenges in Banking
The banking sector relies on servicing customers as quickly as possible and offers a broader range of products and services then ever before. The days of a loan application taking weeks or longer to be approved have given way to near-instant responses to even the most complex questions.
Whether a bank needs to move a large volume of data between systems as it updates its banking platforms or it needs to collect and collate data from different sources to ensure it has a full picture of its customers, a bank can take advantage of intelligent automation to speed up those processes and ensure that its expert staff members remain available to help customers.
How Automation can help
While many of the processes that underpin banking are complex, they are well understood and repeatable. That makes them perfect candidates for automation. Some intelligent automation examples to consider include using IA to:
- Extract data
- Transform data
- Load data into a new system
This gives bankers and staff more time to do investigations into issues that may arise. Instead of gathering data from different sources and copying them into loan applications, intelligent automation collects information, such as expenses from customer statements, categorises it automatically and collates it with credit histories and other important data that comes together when assessing a loan application.
Why choose CiGen?
Our team has extensive experience in the banking sector. One of our co-founders was a branch manager at a major bank, and we have gone on to work with a number of major companies in the banking and finance sector. This includes the fast growth neobank Judo. Our team’s understanding of banking and finance, coupled with our deep expertise in intelligent automation, makes us the ideal partner for the banking sector as it seeks to reduce the burden of tedious and repetitive processes.
