Banking & Finance Department
The involvement of digital technologies in banking and financial services has given rise to an all-new industry of Fintech. It has become imperative for banks and other financial institutions to continually evolve, remain competitive, and provide exceptional customer experience to users. They are under tremendous pressure to optimize costs and boost productivity while the sector faces difficulties in scarcity of skilled resources.
As the finance industry is growing, so does the amount of uncertainty over the perfect systems and solutions. Robotic Process Automation (RPA) can be a one-stop solution for all your finance industry problems.
Over the last decade, banks and financial institution’s reports have spent more than $300 billion on compliance operations as well as fines. Banks are estimated to disburse nearly $250 billion yearly, just on compliance operations. Almost more than 10% of a bank’s operating cost attributes to compliance costs. Robotic Process Automation can enable banks & finance companies to reduce manual efforts, offer better compliance, mitigate risks, and enhance the overall consumer experience. Moreover, what makes automation most suitable for banks and financial institutions is that there are no additional infrastructure requirements coupled with its low-code approach.
IntelliBuddies™ intelligent automation platform enables the Banking & Finance industry to automate repetitive tasks, reducing time and cost, human errors while increasing performance, efficiency, and throughput.
Further, it can work with existing infrastructure, seamlessly bring data from legacy systems and provide you with better analytics.
IntelliBuddies® Intelligent Automation platform augments your organization’s employees to help improve efficiency and effectiveness. Our Buddies can help you automate the following processes under the Banking and Finance Industry:
- Reconciliation – Automate general ledgers by bringing data from multiple systems
- Sales – Automate sales inquiry and new customer registration
- Asset Management – Prepare budget, generate quotations, and manage assets
- Reporting – Financial reports, Regulatory reports, Statutory reports
- Inventory Management – Automate order and shipping processing
- Payables – Automate vendor and invoice processing
- Receivables – Keep track of receivables with notifications
- Tax Planning and Accounting – Preparation and Review of Tax Compliance
IntelliBuddies® can assist your organization in overcoming all the challenges in your Banking and Financial sector and, in parallel, provide you with the following benefits:
- Better Accuracy
- Better Audit Trail
- Reduce costs
- Increase Reliability
- Quick ROI