Fintech vs Big Tech vs Incumbents
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Sub Industry: Fintech
How Digitalizing Debt Collection Can Transform Results for Lenders
The digital age demands lenders to rethink their debt collection processes as they try to balance competing priorities in a constantly evolving landscape. Today’s consumer expects customized interactions – using a channel of their choice. They also look for self-service options and demand greater value. On the other hand, companies
Rebooting Purchase Requisition and Order Processing: A Guide to Intelligent Automation
Your procurement department receives hundreds of purchase requisitions every day for supplies and services, in various formats and layouts. Prior to creating the Purchase Orders (POs), The staff manually enters the data in the ERP system to validate them against supplier data and inventory to ensure your organization in managing
Customer-first Debt Collection is the New Mandate for FinTechs
FinTechs often tread a thin line when it comes to debt collections – balancing mounting loans on one end, while striving to deliver a superior customer experience they are known for, at the other. A complex regulatory landscape for FinTechs further hurts debt collections, hampering recovery and increasing cost to
3 Steps to Enhance Invoice Processing Efficiency through Intelligent Automation
71% of finance professionals still cite manual data entry and inefficient, error-prone, time consuming processes as their key pain points. Processing an invoice, takes anywhere between 4.1 to 16.3 days per invoice – from receipt to payment approval. Ardent Partners’ Accounts Payable Metrics That Matter in 2020 report reveals that
3 Competencies to Check Before Selecting a Fintech Operations Partner
FinTech firms continue to have a disruptive impact on the financial services sector. In recent years, technological innovations in finance have revolutionized the way we manage our money and engage in financial transactions. In 2018 alone, about 61% of Americans used digital banking, which is predicted to rise to 65.3 % by 2022. With customers
Navigating the Next Normal with Extreme Automation
Forward-looking companies will potentially get more done in the next 18 months than they have accomplished in the last 10 years. Forced to adapt almost overnight to the ‘next normal’ in the post-COVID world, savvy companies are thinking divergently to meet customer and employee needs. They are building new ways to
How Digital Debt Collections Can Drive FinTech Success?
5 Ways in which Artificial Intelligence (AI) and Machine Learning (ML) improve Customer Experience (CX) Digital transformation has disrupted the financial services sector today, creating two worlds, namely traditional and FinTech. Increasing data-driven trends in FinTech have cut across traditional financial services in banking, equity, and debt collections. Although they
A race to innovate: Challenger banks vs established players
“The financial services sector has been quick to take the lead in embracing technologies such as AI, machine learning, Robotic Process Automation (RPA), and data analytics. A Bank of England report last year found that two in every three UK financial services firms are already using machine learning within their
Six Ways Automation Helps FinTechs Reduce Debt Avoidance
Six use cases for reducing debt avoidance and driving financial fitness Amid a globally uncertain business environment and heightened regulatory scrutiny, banks, FinTechs, and other lenders are facing relentless pressure to improve debt collections, without escalating recovery costs and time. Current debt recovery processes still rely largely on manual processes,
Challenger vs Established banks in AI, machine learning and data analytics
Few industries in the UK have been as quick as the financial services sector to embrace AI, machine learning, Robotic Process Automation (RPA) and data analytics. Highlighting progress in machine learning alone, a recent Bank of England report found that two-thirds of UK financial services firms are already using it
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