Intelligent Automation in Banking


When examining the banking industry’s landscape in recent years, one undeniable trend that can be found in most financial institutions (FIs) is the rising adoption of intelligent automation through AI-based technology deployment. The estimated value of automation itself within this sector is said to reach 182 billion USD by 2023.

It is a known fact that many banks struggle with dealing with their legacy systems, which can hinder their growth due to their nature being labor-centered and posing repetitive administrative tasks to their employees. This, combined with the digital-first mindset prompted by the pandemic, has altogether made it imperative for FIs to consider intelligent automation in improving the organization’s revenue, customer experience, and efficiency.

Through intelligent automation, FIs can thrive beyond their limits, as the technology is an advanced mixture of robotic process automation (RPA), artificial intelligence (AI), and human intelligence. This shows just how multifaceted a concept this technology is, as it utilizes multiple automation approaches and tools, from the integration of basic robots to the full digitization of end-to-end processes and systems.

Moreover, intelligent automation also involves a wider blend of automation technologies that can include digital forms, optical character recognition (OCR), intelligent character recognition (ICR), natural language processing (NLP), and machine learning (ML). Each function and mix can be altered to cater to the organization’s specific goals and challenges.

Making the Case for Intelligent Automation

One prominent benefit of adopting intelligent automation for FIs is its role as an instant catalyst for standardization. With each technology and tool that comes under intelligent automation comes a simple, quick, and easy configuration that allows FIs to instantly gain the automation benefits. Not only does it streamline and simplify processes within organizations, but it also optimizes existing flows and maximizes their productivity.

The real benefit that comes with intelligent automation, however, is in its combination. It has the power and capacity to integrate a variety of automation technologies that can adhere to each specific operational issue that the FIs face.

Said technology can assist customer service agents in performing their roles better by automating repetitive processes such as logins (bio recognition), registrations (eKYC), and wealth management (automated reminders of bills, loans, etc.). This ultimately frees up the employees’ time and lets them allocate their skills and resources to solving the much more complex concerns raised by the customers.

Intelligent automation can also be leveraged in performing other tasks such as closing accounts, blocking accounts, and managing transfers, which together generate a frictionless experience and better services for customers.

Apart from increased efficiency and a better customer experience, intelligent automation can also help FIs improve their lending processes. Utilizing ML algorithms to analyse existing customer data, the technology can help banks make better risk assessments by predicting the customers’ purchasing habits and financing more accurately, resulting in more informed lending decisions. With intelligent automation, banks can have easier access to analyze their customers’ credit history, income, and debt-to-income ratio, reducing the risk of loan defaults.

By implementing intelligent automation, banks can also boost their compliance and risk management processes. This is because they can easily monitor any anomaly, allowing the FIs to be even more sensitive when identifying unusual or suspicious activities and patterns. This can then lead the organizations to be more cautious, helping the banks reduce the risk of compliance issues and improve their overall risk management.

Getting started in Intelligent Automation with INFOPRO

With the countless strengths and leverages that come with intelligent automation, many banks can feel overwhelmed when deciding which automation technology to prioritize first. FIs also often struggle with identifying which parts of their internal processes should be integrated with said technology.

In this case, it is imperative for the organizations to start small with repeatable, digital, rule-based, and structured tasks. Once the desired value of intelligent automation can be seen, FIs can then move on to semi-structured and unstructured data such as emails, insurance forms, and applications.

Having the right guidance is also critical. Before deploying the technology on such a large scale, it is advisable to obtain insights from industry experts

and have all the important facts before deciding to focus on specific workflows to improve. After all, intelligent automation can support you through this rapidly changing financial landscape, allowing you to create better value-driven customer interactions digitally and automate fraud monitoring.

In the end, it boils down to how well the intelligent automation is executed within the end-to-end processes. To find out more about how you can ease this technological adoption into your organization more seamlessly, contact INFOPRO for a free consultation.



Contact Us

Contact our sales team or business advisors to help your business.


Block B3 Level 8, Leisure Commerce Square, No. 9, Jalan PJS 8/9, 46150 Petaling Jaya, Selangor
+60 (3) 7876 6666





Block B3 Level 8, Leisure Commerce Square, No.
+60 (3) 7876 6666