The Role of Advanced AI Technology in the Finance Sector
With the ever-changing economy, the world of finance is progressing through automated technologies and machine learning algorithms. In order to stay ahead, financial institutions are relying on modern tools to streamline their processes, especially in rapidly changing markets. They are leveraging the changes and opportunities that digital technologies represent aiming to accelerate their impact on employees, customers and businesses.
Staying Competitive –
The use of advanced technology like artificial intelligence and Robotic Process Automation (RPA) play a crucial role by identifying fraudulent activities and boosting confidence among users. Technology is changing the way finance teams operate and this is only the beginning!
Introducing technology in the financial sector cannot be done randomly just because of a certain “hype”. Finance teams need to carefully assess their needs and challenges to establish the wanted technology that will help them stay ahead of the competition.
Advanced technology has the ability to automate repetitive tasks such as account payables (AP), credit control and account receivables, consequently covering basic jobs and allowing a more focused approach to hiring experts with an impressive skill set.
Customer Service –
Though customer service is vital for every industry, it is especially crucial for any company involved in finance… handling money and other financial matters requires a well-trained team to provide the needed support.
With technology, the development of tools like chat-bots as an example, have facilitated customer service, in terms of providing 24-7 support.
Online Banking –
We all remember the way banking has evolved from being done in the “non-virtual” world, so we would go to banks to withdraw money, transfer and place funds or sort out our finances. However, with customer needs changing by the second, shifting to online services through omnichannel experience is becoming the norm. Without advanced technology none of these online services would have been possible.
Fraud Detection –
On a more significant note, the common fear we all have is identifying fraud whilst we take those transactions online. With AI embedded technology, machines are able to detect and predict any fraud based on previous patterns of usage. In fact, detecting fraud through technology has proved to be more accurate and efficient than when its processed manually by employees.
Intalio Financial Solutions –
Intalio© assists financial organizations by enhancing their existing processes through faster and cost-effective operations and improving deliverables. This allows financial institutions to stay competitive and in line with regulatory compliance
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Loan Management –
Through loan management system you can manage and generate different type of loans (customer, personal, car, commercial etc..), with ultimate ease. Upload the documents you need for automatic classification and access the information using an advanced search feature for both structured and unstructured data to generate value. Automate the entire lifecycle and accelerate the processes related to loan management at minim risk.
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Sales tracking and Incentive Management –
Streamline and maximize the transparency of the compensation management process. Sales Tracking and Management allows you to design and share incentives aligned with the strategy of your financial institution and capture data generated to enable precise tracking for sales performance and KPI objectives. Uncover critical sales transaction data and align your personnel with business objectives.
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Trade Finance: LC/LG AUTOMATION –
Simplify your processes and automate your requests with a trade finance solution. Share, track and review the applications with the corresponding departments to streamline and control the workflow to improve business performance.
Key Benefits of Intalio Financial Solutions –
With over 25 years in the field of digital transformation, Intalio has established expertise in all industries and the financial sector is not an exception. Our solution has been developed to cater to the specific and sensitive needs of financial institutions, making it a convenient and effective option.
With the customer being at the heart of any organization, Intalio follows a customer-centric approach making every service personalized to grow and retain a customer base. Our workflow automation is focused on automating all processes to ultimately create a seamless knowledge base. With the help of our built-in advanced analytics and insight engine, your institution can take strategic decisions accordingly.
Do not worry about the changing market conditions, especially in times like these, as our solutions are continuously updated to react with speed and agility utilizing advanced financial solutions to optimize your internal and external processes.
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