Sub Industry: Retail Banking
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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. Â 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
Lenders checklist: Servicing capabilities for Recovery Loan Scheme, CBILS and BBLS accounts
Coronavirus business loans, known as BBLs and CBILS, are different to run-of-the-mill commercial loans. In our blog The call for a new approach to Recovery Loan Scheme, CBILS and BBLS account servicing, we outline why servicing these loans poses unique challenges for lenders. And how to tackle these with an
The call for a new approach to Recovery Loan Scheme, CBILS and BBLS account servicing
A lighter-touch approach to Coronavirus loans Government-backed loans issued as part of the Recovery Loan Scheme or its predecessors, CBILS and BBLS, will require a different approach to customer servicing. This has been recognized by the state-owned British Business Bank and the industry lobby group, UK Finance, which kicked off
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 while
Automation delivers 12X increase in QA capacity for a top US bank
The challenge: Manual quality assurance (QA) processes driving inefficiencies Our client was one of the largest banks in the US, providing banking, investment, mortgage, trust, and payment services products to individuals, businesses, governmental entities, and other financial institutions. Every day, the Quality Assurance team in their Risk Management department processed hundreds
Challenger vs established banks: Mobilizing 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
Getting ready for the call deluge when Strong Customer Authentication hits customers
Strong Customer Authentication (SCA) means hard work for European banks looking to ensure compliance from day one. Come September, it’s going to mean some hard work for customers too. People are used to making online purchases quickly and easily, and suddenly they’ll be forced to go through additional authentication steps.
Two steps to success: why financial services companies need to master the customer journey
Financial services companies are under more pressure than ever before to both defend and gain market share, and with so many businesses in the sector citing ‘customer experience’ as a key focus, or USP in order to win customers, it’s more important than ever that we know exactly what that
How are innovative technologies transforming customer service?
Brands have never been under such pressure to keep up with their tech peers. But while some of the latest technologies may sound like they belong in a sci-fi film; the truth is they have the power to transform how you deliver your customer service.
A delicate balancing act: How to digitalize your customer service
In the face of fresh-faced fintechs, it’s essential that banks are doing all they can do to digitise their services and provide a truly competitive offer to challenger brands. So, what must banks bear in mind when looking to digitally transform their customer service?
