The next step in the efficiency game for financial institutions
Automation is the focus of intense interest in the global banking industry. Financial organisations and other banking institutions have been long striving to establish themselves as the early adopters of smart technologies. While trying to keep up with the pace of ever-changing horizons shifted by challenger banks, companies understood that processing efficiency is not enough. While the results have been mixed thus far, Untrite expects that early growing pains will ultimately give way to a transformation of the financial industry, with outsized gains for the institutions that master the new capabilities.
Intelligent software is already making a difference in front-end, customer-facing systems. However, organisations still need to strike a better balance between the front and the back office, while becoming faster, accessible and more reliable. Delivering more consistent, personalised services to the customer are crucial. With RPA, operations get streamlined and relieve much of the workload. Untrite helps finance and banking companies catch up.
We provide process efficiency solutions which lower costs while ensuring regulatory and safety compliance. Implementation of Untrite solutions is faster and competitively less expensive than enterprise heavy IT automation projects.
The best part: depending on scale of automation, it can create triple-digit ROI’s in the 6-12 months of operations.
There are clear success stories, yet many financial institutions still face big challenges. Some have installed little robots – bot software programs that automate repeated tasks—with very little to show in terms of efficiency and effectiveness. Others have launched numerous tactical pilots without a long-range plan, resulting in confusion, resistance and challenges in scaling. Still, more have begun the automation process only to find they lack the capabilities required to move the work forward, much less transform the work in any comprehensive fashion.
Despite some early setbacks in the application of robotics, the opportunities are immense. The technology is rapidly maturing, and domain expertise is developing among both finance companies and vendors—many of which are moving away from the one-solution-fits-all “hammer and nail” approach toward more specialised solutions.
The finance world is learning critical lessons about workflow —for example, how to more effectively manage handoffs between man and machine, and where typical process redesign/re-engineering can be put off or even skipped in favour of automation—particularly where systems are likely to be replaced.
Research shows that a second wave of automation and AI will likely to be emerging in the next few years, in which machines will do up to 10 to 25 percent of work across financial institutions functions, increasing capacity and freeing employees to focus on higher-value tasks and projects. To capture this opportunity, companies must take a strategic, rather than tactical, approach. In some cases, they will need to design new processes that are optimised for automated/AI work, rather than for people, and couple specialised domain expertise from vendors with in-house capabilities to automate and bolt in a new way of working.
The transformative power of automation
Flexible and highly scalable
Get it done in seconds
This changes everything
Leveraging RPA is the obvious next big step in markets around the globe. It is already being implemented on a broad range of industries. High growth companies start eliminating outsourcing by going from offshore to onshore, optimising costs, delivering higher quality, regaining control over processes and freeing up their resources.
This translates into quick, increased value in terms of product and services for customers, but ultimately, allows for new business visions to arise in crowded marketplaces.
Wondering which of yours business operations could be automated?
Looking to explore RPA capabilities?
We design, build and implement the next wave of intelligent automation. Untrite sets the pace for the industry with the RPA technologies and unique assistance, perfectly calibrated for any of your organisation’s stages of maturity. Constantly extending our capabilities, Untrite helps you achieve even better degrees of business growth via improved quality, productivity and agility.