The ever growing customer base and their evolving needs have compelled banks to enhance their infrastructure and facilities. Facility management in the BFSI industry is challenging as the focus lies on cost reduction for administrative services, customer care solutions and operational processes. To resolve these growing demands, banks are increasingly embracing automation technologies to improve their infrastructure further.

Hyperautomation is gaining prominence as an automation technology within the BFSI industry given its ability to to analyze performance gaps and provide solutions to streamline processes and improve productivity.

What is Hyperautomation

Hyperautomation is a blend of smart technologies like Robotic Process Automation (RPA), Artificial Intelligence (AI), Machine Learning (ML) to augment organizational capabilities for decision making and production. 

Impact of Hyperautomation on Facility Management in Banking and Finance

The banking industry is adopting smart systems to improve energy efficiency via optimizing lighting, security, ventilation, heating and air conditioning equipment. Using automated solutions enables stakeholders to identify the problem areas, monitor and analyze data across branch networks and arrive at solutions. 

Few areas where Hyperautomation helps in Facility Management are as follows:

Security

One of the prime focus areas in BFSI is security. Historically, the main concern was related to physical security. But with digitization banks are considering data protection and cyber securities as their top priorities. Use of automation technology helps banks to take preventive actions against ransomware, malware and safeguard themselves to protect the interests of their customers. According to a survey conducted by Deloitte in 2020, 3 primary areas where banks are heavily investing include detection processes, access control and data security. Automation-based cyber security solutions are becoming popular means to prevent attacks, govern identity of the administrators and authenticate customers access ensuring complete security. 

Comfort and Productivity

Banks are implementing RPA tools to meet specific business requirements and encourage employees to serve customers better. Automated building management systems are getting increasingly popular to improve facilities pertaining to internal securities and customer loyalty. This not only reduces complexities, but also results in simplified processes with reduced costs and in an automated manner. Utilizing IoT building management technology controls the physical environment in a customized way with minimal human intervention and helps in achieving maximum efficiency and overall profitability. 

How Neebal can help

We at Neebal work to deliver improved automated solutions for businesses across Pharma, Agro, BFSI and FMCG industries. With more than a decade’s presence our services are transforming process efficiencies to provide purpose driven and outcome oriented solutions. We provide customized on-demand technology services to ensure satisfaction and loyalty among the users. 

Our tailor made offerings enable companies to serve the diverse requirements and ensure comprehensive growth. 

Partner with Hyperautomation companies to automate facility management processes for your organizations. Consult us and streamline your processes to maximize output with improved accuracy. 

Conclusion

Increasing competition and diverse demands have made facility management a prime concern for the BFSI sector. Use of Hyperautomation and RPA enables banks to identify process gaps, strengthen internal security systems, improve employee and customer experience while reducing costs. 

How can Neebal help?

Neebal’s Hyperautomation capabilities enabled a leading Bank to automate business processes, eliminate human-induced errors and facilitate digital transformation. To increase efficiency and productivity, Neebal's RPA solution automated manual business processes with BOT execution. This helped in mitigating tedious processes and eliminating human errors while streamlining trade operations. Read the full case study here.

Are you ready to implement Hyperautomation for your business? Schedule a call with our experts to get your digital transformation journey started!