How intelligent automation can accelerate digital transformation and ROI

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Digital Reinvention
23/05/2023 Study

Banks have been talking about digital transformation for decades, yet many are still struggling to make enviable progress.

While almost every bank has a digital front end, it’s often the case that entire teams of people are employed to carry out low-value, manual work behind the scenes. That might be a one-thousand-strong customer services team having to sort through various requests, including dealing with millions of digital communications, or hundreds, if not thousands, of people manually testing IT applications.

This resource-intensive approach is far from ideal, which is why, when automation first hit the scene with its promise to save time and improve productivity, many banks were quick to adopt.

The most pioneering banks are realizing impressive results. By automating around 9% of all of their work, they have saved significant person-hours, and large sums of money in the process. Even average banks, which are automating around 1-2% of their work, are experiencing transformational shifts within their organizations.

Unfortunately, however, many of these implementations to date have been achieved in a bottom-up fashion. A lack of overall strategy from the top has led to small pockets of innovation throughout the business, but many areas left untouched.

It’s time for this to change.

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