The automation story in the banking sector has been going on for a while now, but are we seeing the banks adopting automation and its advance levels at the rate that expected? A lot of banks and other financial institutions are still apprehensive about adopting automation and overhauling age-old processes that are running smoothly. Automation provides benefits ranging from cost reductions to revenue growth and competitive advantage; why is it then we still see a slow adoption pattern in the banking industry? Exceptions in the form of some banks implementing Artificial Intelligence (AI) or cognitive-based automation solutions are present, but it is still far from becoming a widespread phenomenon on the ground.

This paper explores benefits that banks stand to gain from automation, different options available to banks, automation in different Lines of Businesses (LoBs), challenges to a widespread automation adoption, and how some organisations have tackled these challenges

Key discussion points in the report include:

• Benefits from automation
• Examples of banks that have implemented advanced levels of automation
• Extent of automation and cognitive in different LoBs
• Good examples of automation in different LoBs
• Challenges faced by institutions in implementing automation solutions
• Case studies on how some organizations tackled these challenges

Membership(s)

Banking & Financial Services (BFS) - Business Process Outsourcing (BPO)

Banking & Financial Services (BFS) - IT Services (ITS)

Service Optimization Technologies (SOT)