The COVID-19 pandemic has forced industries around the world to reshape how they do business. To understand the effects this pandemic is having on the banking and finance industry and determine how financial institutions can combat them, we sat down with our very own Bruce Switzer, Banking and Financial Services Principal, and Marty Gulewicz, Banking and Financial Engagement Manager, to talk about what they are seeing within the banking and financial landscape since COIVD came into play.
Robotic process automation (RPA) allows organizations to automate certain business processes within their company in order to increase efficiency and improve ROI. Despite RPA becoming a well-known automation technology in recent years there’s still a lot of confusion about what exactly RPA is and what capabilities it has.
To help combat some of the misunderstandings surrounding RPA, we’ve outlined seven common misconceptions and explained the reality of this software.
Did you know, 30% of banking clients abandon the onboarding process before completion? The majority of this is due to lack of communication throughout the onboarding process and the length of time it takes for your customer to start using the services they need.
Higher Education institutions are turning to Robotic Process Automation (RPA) to improve internal operations. RPA is a tool that allows universities to provide better student and staff experiences, reduce costs, and automate tasks within their existing systems.
The whole purpose of the mortgage process is for the lender to asses an applicant’s risk level. Will they be able to pay back the loan? How likely are they able to default on the loan? Does their employment history align with their ability to pay off their debts and obligations? What type of customer will they be for the bank?
Businesses have used Workplace XT for a long time to create process workflows, interact with content and define custom searches, so many have been hesitant to upgrade to Content Navigator due to the stress it could cause end-users. But we also have good news for you if you’re a FileNet customer still operating on Workplace XT: the conversion to IBM Content Navigator allows users to keep existing workflows and doesn’t require much customization.
Content is the fuel that powers your organization, so it’s important that it’s well taken care of. If you’re thinking about a content migration, you may be a little uneasy. It’s not an easy process, and it’s often even an underestimated project by a lot of the key players involved in a new system implementation. Here are the top considerations to thoroughly account for before you begin to migrate even a portion of your millions of documents.
Insurance companies have seen their organic growth decline, struggled with their ability to obtain new, skilled talent and are fearful as to how they will keep up with new cutting-edge insurtechs and other digital providers entering the market. Luckily, business automation technology can help traditional insurers stay in the game and address these problems.
As a huge disruptor to the financial industry, traditional banks will need to join the blockchain movement to keep up with emerging digital competitors. Read on to see 4 of the major ways banks today are using blockchain to streamline processes.
From a linear, narrow workflow to a task-centric workflow to advanced workflow software that integrates additional technologies, workflow has been integral since it was first introduced as a way to manage business processes. Read on to see how workflow has evolved over the past couple decades.
Like any implementation, document capture needs a lot of prep work to deliver the desired results. Some of the most important steps in capture happen even before the technology gets involved: it’s preparing your documents in a way that will give your cognitive capture application the best chance to succeed.
Before implementing any new technology that claims to increase efficiency, current underwriting processes need to be straightened out so that they make the most sense for the actual decision-makers—the underwriters. Let’s explore a few of the fundamentals that every insurance provider should keep in mind in order to execute a successful accelerated underwriting solution.