Integrating Information & Transaction Efficiencies for Banking—Boost Your Bottom Line (part 4 of 6)
Integrate Data From All Systems to Optimize Business Process Management (BPM)
Business systems integrations can greatly increase efficiencies, both during and after the processing of data and documents. While processing mid-stream, integration between workflows, repositories and legacy systems can expedite throughput, eliminate errors and provide critical analytical data real-time. This helps mitigate risk by enabling you to meet both service level agreements and regulatory compliance. Sometimes this can be done without a single-line of code.
Post-processing, it’s possible to retrieve and display images from within virtually any application regardless of source—host based, Windows, Web or Citrix—with little to no development. This provides a cohesive system that allows data to pass easily between two or more applications, saving time and increasing efficiencies.
Robotic Process Automation (RPA) Can Take Integrations to a New Level
RPA allows fluidity, enabling a more effective labor force. It’s like putting your high-volume, low complexity tasks on steroids! Employees can be repurposed to provide essential jobs that require personal, human interaction and collaboration.
An important advantage of RPA is that it can be implemented without major retooling of each business process. Simply integrate RPA into your existing systems to mimic the way your FTEs would interact with it.
Business process integrations are instrumental in helping save money by:
- Extending the reach and power of your ERP, or any existing system
- Serving data to workers from within one familiar business application
- Consolidating data to a single interface for improved customer service
- Pushing and pulling data between systems automatically, saving labor
- Enabling search across multiple systems and package documents upon request
- Streamlining audits
- Reducing human errors, therefor mitigating operational risk
- Decreasing processing times for overall process improvement
- Improving internal and customer service levels
- Enabling 24/7 output
- Reducing human fatigue & quality variance
- Mitigating risk by facilitating compliance with regulations such as SEC, Frank-Dodd and KYC
- Providing real-time data for predictive analytics, customer engagement and more
Agile Integrations Keep You Competitive in Today's Data Driven Market
As consumers expectations grow for more customization and personalization of their financial services experience, RPA can enhance the performance of customer engagement platforms. It also improves data agility for systems that support analytics, branch optimization, channel management, compliance management, performance management, risk management and mobility. In addition, RPA can provide on-demand integration between schemaless data (data lakes) with any business system.
Basically, robotic data integration removes barriers and extends your control over a broad range of data types and sources to better deliver business value. Not only does data integration untether you from the limitations of information silos, but it can help unify formats and data management across files, tables and streams.
Although business systems integrations, particularly with RPA, can seem overwhelming, it is possible to find all of this functionality in one platform. The ILINX suite of information management software can provide all of the afore mentioned benefits using a combination of ILINX Capture, ILINX Capture Workflow, ILINX eForms, ILINX Advanced Capture, ILINX Content Store, ILINX RPA and ILINX Analytics. They work together seamlessly to automate the integration of all your critical business data and document, during and after processing.
Check out the 5 other posts in this series:
Ingest and Process Secure Data, Documents and Payments Real-Time During Customer Transactions
Extend Online Invoice Upload Capabilities to Business Partners
Advanced Automation and Robotics Process Automation (RPA) Maximize Efficiencies
Control the Flow of Information and Access to Manage Risk and Identify Problems
Meet compliance and regulatory policies to mitigate risk of litigation