Infographic 5 Ways to Automate Financial Services
Automating common processes is a game-changer for financial services organizations.
By Insight Editor / 25 Feb 2021 / Topics: Data and AI Devices Automation Application development
How do you build a better customer and employee experience while lowering costs and upping productivity? Embrace automation.
Accessibility note: The listical is transcribed below the graphic.
Bring the benefits of automation to your company. Insight and our partners help financial services organizations like yours implement technology that leads to better business outcomes.
5 Ways to Automate Financial Services
Automating common processes can lower operation costs, retain customers and free up your best talent to focus on the big picture.
Here are five areas that are perfect candidates for financial services organizations:
Customer service
With chatbots, organizations can cut down on the amount of time human employees spend answering the same questions. Instead, customers are able to get the information they need quicker and easier, leading to a better customer experience and more productive workforce.
Know-Your-Customer checks
Historically, financial firms needed armies of analysts to perform lengthy background checks on clients. Now, virtual workers can compile and analyze various documents and data sources, make decisions and flag a human employee if something seems amiss.
Processing claims
The review process should include a period of trend analysis against previous claims, but human employees rarely have the luxury of completing the exhaustive process. Automating means insurers can process significantly more claims and identify fraud with great accuracy, alerting human workers when necessary.
Generating quotes
All the time and effort it takes to fill out the needed information for a quote often leads to customers dropping out halfway through. Automation technology can extract relevant information from existing policy documents, come up with a quote, generate a new policy and alert a marketing team of this new lead.
Monitoring for money laundering
Analysts are forced to collate data from several systems before being able to properly check for fraudulent activities. Automating this review process frees those analysts up to identify bigger trends, add value to the analysis and process exponentially more transactions.
