With a “can’t wait to automate strategy”, banks are the frontrunners riding the automation wave. They have successfully shifted the uninspiring and routine tasks to machines while engaging their human resources in more resourceful tasks. The results are phenomenal; there is a dramatic increase in the operational efficiency and improvement in customer experience, among a multitude of other benefits, making automation inevitable for banks.
What made banks the early adopters of the automation wave is the realization of the fact that it is an excellent way to enhance productivity, performance, and to bring round-the-clock efficiency in processes. Challenges such as strict regulations and controls posed by the Government, the rise of the fintechs, change in customer behavior, demand for faster and personalized services, and Mergers and Acquisitions have left banks with no other choice than to embrace automation.
As it is, the banks spending on IT is twice as much … Read More