Automation in Banking & Financial Services
Banking: Artificial Intelligence and Automation
Hyper-personalization, omni-channel experience and social banking don’t lend themselves to human-bound processing. Timeliness, speed to market, great customer experiences and employee engagement require automated solutions. Repetitive, document-intensive work that requires input from multiple repositories are ripe for automation and artificial intelligence. Top processes for automation include trade finance, loan originations and customer onboarding.
Wealth Management: End-to-End Banking and Financial Process Automation
The Automate platform combines advanced technologies like artificial intelligence and natural language processing, which are the backbone of end-to-end banking and financial services automations for mid- and back-office workflows. These tools understand and extract data from online and paper forms, validate with core systems, and feed the data into your workflows. Our platform helps you automate processes such as audit packages, account opening and maintenance, and reconciliation.
Insurance Automation: Time Savings and Improved Accuracy
Your hardest-working employees can take as many as six days to process a single claim. Worse, the result can be rife with errors. End-to-end automated insurance processes that use artificial intelligence (AI), machine learning and natural language processing can reduce the process time to seven minutes with 100 percent accuracy. Similar results are available for processes that include agent and vendor onboarding, customer service support, and claims management.
Mortgage Automation: Achieve Excellence and Speed
Of the 20 top mortgage originators in 2006, only five remain active in the market today, according to a Fannie Mae report. Lenders who develop, deploy and monitor end-to-end mortgage automation processes with Automate are well-positioned to survive and thrive over the next 15 years. Advanced technologies, like AI, can reduce turnaround time and improve accuracy for numerous processes such as mortgage fraud check, originations, servicing, vendor billing reconciliation, risk and compliance, and more.
Improve Complex Processes with Automate
The JIFFY.ai Automate platform provides end-to-end automation in banking, financial process automation, insurance automation, and mortgage automation solutions to effectively improve your business.
Know Your Customer
Intelligent documents processing verifies existing documents, identifies gaps, updates online applications and notifies users.
Digitize and capture unstructured data, determine customer balances from core banking system, assure compliance, route to humans for approval, post charges and balances, and maintain transaction history.
Upload KYC documents, extract and verify data, validate application, approve/reject loan, submit approvals for disbursement, maintain dashboards and report KPIs.
Collect data at initial contact, create accounts for vendors, customers or agents, perform background checks, manage collections and payments, and update databases.
Account Opening and Maintenance
AI and machine learning extracts and verifies data against core systems, validates KYC information, and manages asset transfers.
Insurance Claims Management
End-to-end insurance automation for claim registration and handling, process payments, detect fraud, and investigate and adjudicate claims.
Digital Transformation with Automate and HyperApps
Beyond Robotic Process Automation
Conventional robotic process automation solutions require up-front investments, long development cycles, and an “automation” that produces far too many exceptions that require human intervention. World class enterprises solve this problem with advanced technology like artificial intelligence and machine learning.
Rapid, Effective, Scalable
Low-code automations make rapid development and deployment a reality. Reserve human involvement in your automated workflow for high-value decisions, and enable your workforce to focus on growth. Your return on investment improves when you when you reuse your solutions for similar processes.
Low Total Cost of Ownership
No up-front investment required. JIFFY.ai’s volume-based subscription bolsters your ROI case and allows you to forecast expenses. HyperApps lower your total cost of ownership, which enables you to invest into the rest of your business.
AI That Meets Customer Expectations
Mature financial services companies that transformed their workflows with artificial intelligence are not your only threat. Today’s startups design their business processes around technologies such as artificial intelligence, machine learning and natural language processing. These competitors capture advantages in capabilities that your clients expect, such as speed, agility, and accuracy.. These leaders are well-positioned to take advantage of the next technological iteration.
Automate Your Employee Experience
Your growth prospects depend as much on your employees as your business model. The millennial and Gen Z cohorts consider a digital work environment to be table stakes. Digital natives expect to use automated tools to engage back-office functions, as well as to perform customer-facing responsibilities. Automation reduces employee turnover and enables your workforce to focus creative energy on solutions that grow your business.
Digital Transformation and Continuous Improvement
Workflows that require input from several data or process silos are sweet spots for automation and artificial intelligence. End-to-end process automation makes your enterprise more resilient and returns measurable workflow improvements. Best of all, intelligent automations work on top of existing systems: No need to “rip and tear” or overhaul existing infrastructure.
Tamra Butler, RPA Manager
International Organisation (Public Health), Malaysia
Leading US Airline
Managing Director, Business Transformation
Leading US Airline