Banking and Financial Services

  • The banking and Financial industry has been growing exponentially in the last few years with the advent of technological advancements resulting in quicker, more secure, and more reliable service. To continue being competitive in a progressively flooded market – with more widespread adoption of virtual banking – banks have to find ways to deliver the best possible user experience to respective customers.

Banking and Financial Services

RPA helps banks and accounting departments. All their repetitive manual processes are automated. This allows bank employees to focus on other activities and thus the bank gains a competitive advantage.

All routine time-consuming banking operations are automated and organized. RPA has been adopted significantly in the banking sector, to make this possible.

RPA has abundant and diverse applications for the BFSI segment. This frees up valuable manpower to work on supplementary tasks. A few of these processes include:

  • Customer Service
  • Compliance
  • Accounts Payable
  • Credit Card Processing
  • Mortgage Processing
  • Fraud detection
  • KYC
  • General Ledger
  • Report Automation
  • Account Closure Process
  • Account Origination & Receivable
  • Surrender
  • Collection
  • Underwriter Support
  • Deposits & many more…

Data science in the banking industry has become a necessity to live up to the competition. Banks have realized that big data technologies can help them focus their resources efficiently, enhance performance, and make smarter choices.

  • Fraud detection
  • Managing customer data
  • Risk modeling for investment banks
  • Personalized marketing
  • Lifetime value prediction
  • Real-time and predictive analytics
  • Customer segmentation
  • Recommendation engines
  • Customer support
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