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Automating Client Onboarding in Commercial Banking
...These include Customer Due Diligence (CDD), Know Your Customer (KYC), and Anti-Money Laundering (AML) checks. Failing to comply can result in huge fines and reputational damages. With automation technologies like...
Improving the Digital Account Opening Process in Utilities
...by turning to an area they’ve typically taken for granted: the customer experience. A survey by Bain & Company ranked the most important aspects of the customer experience. What was...
Improving the Digital Account Opening Process in Banking
...explicitly for each customer’s needs. By asking a few quick questions about the size of their business and spending habits, you can discover what products a customer is most likely...
Improving the Digital Account Opening Process in Telecom
...revisit their customer experiences High churn rates are costly Of five main industries ranked by a recent survey, telecommunications has the second-highest churn rate. The study was able to pinpoint...
Top 5 Intelligent Document Processing (IDP) Use Cases
...needs. With IDP, you can efficiently manage large volumes of documents without compromising on accuracy or speed. Increase customer satisfaction. IDP enhances the customer experience by providing faster and more...
What is Business Process Monitoring? 2024 update
...Collection and Aggregation Data is at the core of business process monitoring. Organizations collect and aggregate relevant data from various sources, such as transactional systems, IoT devices, and customer interactions....
Enhancing Account Security with Biometrics
...theft, and other breaches. In recent years, many banks have turned to biometrics as a preventative measure against security threats to customer accounts because it provides definitive proof of identity....
How Low-Code Platforms are Evolving for the Enterprise
...and user interfaces. Low-code platforms give organizations much needed flexibility to pivot to respond to changing market conditions or customer preferences. For instance, by integrating innovative new third-party applications to...
Automating Banking Forms with Intelligent Document Processing
...customer demands more quickly. What is IDP? Banking data is skyrocketing. According to the IDC, worldwide data is expected to surpass 175 zettabytes by 2025. Much of this data can...
How Hyperautomation is Transforming Banking and Finance
...or express interest in a banking product. This could trigger a series of emails that move the customer further along the customer journey. It could also trigger a workflow that...
3 Trends Increasing the Need for KYC (Know Your Customer)
Do you truly know your customer? For banks, the process is more than being on a first-name basis. Impregnable Know Your Customer (KYC) checks are the foundation of a bank’s...
50 Business Automation Ideas
...next big customer. Rally your sales staff with real-time insight into goal progress. Provide stellar customer service with business automation tech A third of customers will consider switching companies after...
Transforming KYC Obstacles into Opportunity
...exposed individuals may reduce customer risk. The Panama Papers leak prompted even further KYC changes. For example, the Customer Due Diligence Final Rule went into effect to identify the actual...
Business Process Automation in the Retail Industry
...convenience. Retailers can use automation to recommend products based on a customer’s past buying habits or items purchased by similar shoppers. Customer communication Automation is a powerful tool for launching...
8 Steps for Evaluating Banking Account Opening Products
Customer identification is the first and most crucial step in a bank’s account opening process, essential in preventing financial crime and money laundering. In addition, anti-money laundering (AML) and counter-terrorist...
What is Workflow Automation?
...Customer support Inventory management Analysis of customer trends Bottom line: Automation lets you focus on what matters most—your customers—while leaving behind those tasks that are less important but you still...
Using Digital Process Automation for Vendor Management
...by taking employees’ tasks manually and performing them automatically. To illustrate, if you want to update a customer’s information when they move or change phone numbers, you could enter the...
Top 10 Bizagi Competitors and Alternatives
...provides a unified view of data from multiple sources, enabling efficient data management and analysis across the process lifecycle. Users can explore the Data Fabric with custom reports. Pre-built connectors...
A guide to business process mapping
...also help businesses identify risks and compliance issues, optimize resources and workflows, and improve customer experience. Additionally, business process mapping can be used to develop process improvement initiatives and identify...
Seamless East Africa 2020 – Banking Conference
...create automated business processes that keep banks flexible, agile, and compliant—all while lowering operating costs and improving customer satisfaction at the same time. Banks can then handle multiple complex customer...
Credit Denial in the Age of AI
...on the lending lifecycle. For those who are in the higher 500s and lower 600s or any other borrower on the cusp of cut-off numbers, these alternative models can help...
ProcessMaker to Exhibit at Seamless East Africa
...automated business processes that keep banks flexible, agile, and compliant—all while lowering operating costs and improving customer satisfaction at the same time. Banks can then handle multiple complex customer relationships...