The ongoing COVID-19 pandemic has pushed enterprises of all sizes to accelerate digital transformationtransformation. Businesses across industries are keen in incorporating trailblazing technologies to enhance their operational efficiencies and boost productivity. Among the extensively used automated technologies, hyperuauutoomation is getting the most traction.
Gartner has predicted that the value of the technology market worldwide enabling hyperautomation can reach upto 596.6 billion dollars by the end of 2022.
What is hyperautomation
Hyperautomation leverages multiple technologies such as Artificial Intelligence, Robotic Process Automation, Machine Learning, to streamline processes and operations across industries. It enables sectors like Banking and Finance to make their customer onboarding processes smoother and more interactive, thus improving overall , thus improving overall user experience.
Challenges in customer onboarding which hyperautomation can solve
Time consuming process: For financial institutions customer onboarding is both crucial and challenging. It involves coordination with different departments for data collection and verification. But with time the methods for these tasks have progressed. Use of RPA tools has enabled decision makers to obtain and validate data fasterer, sort those as per requirements accurately and approve the applications almost almost instantly. This, not only reduces complexities, but also ensures authenticity in the information for better responses.
Regulations: Banking regulations are quite strict and to onboard customers, every regulation has to be followed minutely. This consumes huge time and also delays the entire process. Maintaining regulations properly also reduces the chance of online frauds and threats. But doing all these manually is complicated and can result in human induced errors. Being an automation technology, this tool offers benefits related to
- communicating changes to the customers
- adapting the internal systems
- Adjusting and reviewing internal processes
All these make customer onboarding a faster streamlined process with well coordinated information exchange and updation.
Managing and processing documents: Maintaining records and files of customers is vital to remain updated. Now doing everything on pen and paper is difficult and keeping it for long is challenging. Additionally it involves ample manpower and also has higher chances of committing errors.To put an end to all these inefficiencies banks prefer using hyperautomation to perform diverse tasks with ease and convenience. Activities like data sorting, categorizing, analyzing customer behaviour, predicting trends are highly pivotal for the Banking and Finance industry. Use of the latest and advanced techniques has equipped the financial leaders to create trends with respect to customer data validation and management.
How can Neebal help?
We, at Neebal, deal with high end technology solutions related to automation tools. Our speciality lies in making automation an an integral part part of every businesses to improve their efficiencies with proposed accuracy. With more than a decade’s experience across diverse industries, we have been successfully delivering customized services to our clients and enabling them to stay ahead of competition.
The Banking and Financial sector has always been one of our priorities and we have been providing hyperautomation-based technology solutions for large banks with a global footprint.. From customer onboarding to loan processing we have automated almost everything possible to transform modern day banking.
Feel free to consult us for your tailor-made automated services. Boost your business credibility by leveraging the experience of our technology experts.
Conclusion: Are you doubtful about selecting the most suitable technology for your business growth and development? Hyperautomation companies with global experience are the best options you have to revolutionize business processes and ensure customer loyalty. Like banks, customer onboarding is significant for any enterprise. Whatever be the nature and scope of your business, our hyperautomation services can distinctively improve the quality of your work life.
Book a free consultation with one of our experts.