Banking, Blog

How does Business Process Automation (BPA) Benefit Banks and Their Customers?

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JFORCE is a leading technology and software development company that aims to provide the most effective and best technological solutions for the digital transformation of its solution partners. Founded in 2003 in Istanbul, JFORCE Information Technologies intends to meet all technological demands of its solution partners with all kinds of technological equipment, security, and applications.

As the JFORCE family, we have digitized the business processes of our strategic partners, with whom we have achieved many successes together for 19 years and we modernized their workflows by providing effective and creative solutions in accordance with their needs.

Operating in many different sectors such as banking, insurance, public, health, energy, and telecommunications, the JFORCE team is ready to modernize your infrastructure and online platform, whether in a single transaction or in all processes.

As JFORCE expert software team, we can modernize your applications and infrastructure as well as transform your digital platforms into fast and practical platforms by using IBM BPM products within the Business Process Automation (BPA) solution that we have included in many projects.

What is Business Process Automation (BPA)?

Business Process Automation (BPA) is a cutting-edge strategy that involves automating the essential functions necessary to streamline and optimize the core processes used to run workflows.

Business Process Automation (BPA), which saves both time and financial with minimal human intervention, increases efficiency and standardization, allowing companies to achieve higher revenues and higher customer satisfaction with lower costs.

Hyperautomation technology, which is the combination of multiple machine learning, automation tools, and high-end software, is an advanced technology that aims to create a digital copy of a company. 

Recently, there has been a rapid transition to digital banking through modernization, especially in the banking sector, and banks need the support of expert software developers in this digital transformation process. For many years, operations were carried out on paper to store a lot of data, manage customer accounts and conduct all other financial transactions. Now, thanks to Business Process Automation (BPA) and hyperautomation, we can do all these operations much easier and faster.

Business Process Automation (BPA) helps banks to serve their customers better by making transactions much faster and preventing customers from waiting in long queues, increasing their satisfaction with an optimized customer experience.

How Does Business Process Automation (BPA) Help Banks?

Business Process Automation saves time and labor in the financial data processing and in the execution of all financial transactions, especially in the banking sector. Through business automation, which is one of the crucial steps of digital innovation; all banking activities, especially retail banking and commercial banking, can now be carried out very quickly.

The services we offer as part of our business automation project as the JFORCE team;

  •       Onboarding processes
  •       New product development
  •       Interest rate changing processes
  •       Credit application and approval processes
  •       Transcription and integration
  •       Reporting and analytical systems
  •       Integration with the risk management system

and in addition to all this, it covers all similar financial processes according to your business needs. 

Business Process Automation (BPA) with JFORCE expertise will be one of the most beneficial steps in the digital transformation process, as it optimizes all your organizational business processes and offers a unique customer experience by minimizing the potential error rate.

How Does Business Process Automation (BPA) Benefit Customers?

Business Process Automation (BPA) is a real miracle for customers who are becoming more and more impatient with the fact that technology speeds up all processes and processes in our lives.

Thanks to business automation, customers no longer have to wait in long queues in front of the banks for their individual or commercial financial transactions. Do you, as a customer, prefer to wait in a long queue in a crowded bank or to be able to perform your transactions quickly and practically on a digital platform? Of course, customers will also prefer banks that keep up with the digital transformation and provide high customer satisfaction.

Business Process Automation (BPA) is a very beneficial and effective strategy for both employees and customers, as the back-office transactions, defined as non-customer-oriented transactions of bank employees, are also carried out quickly thanks to hyperautomation, thereby accelerating the financial transactions of customers.

The Future of Business Process Automation in Banking

Business Process Automation (BPA) in the banking and financial services sector will provide more productive and more effective results every day by increasing its power with technological developments.

In digital transformation projects carried out using IBM BPM products, the JFORCE expert software development team guarantees to increase efficiency and customer satisfaction by providing you with the most useful solution for your digital needs.

The Financial Services Industry (FSI) seems to achieve a digital transformation with hyperautomation, reaching unimaginably high points in terms of service and experience in the future. Through Business Process Automation (BPA), it is inevitable to increase efficiency, save time and provide high customer satisfaction in a business where the margin of error is minimized and all financial business processes, including retail banking, commercial banking, and back-office operations are automated.

Conclusion

The inclusion of all organizational transactions in Business Process Automation using advanced technologies in banking is a digital revolution that is very beneficial for both banks and customers.

Through automation, banks can speed up their workflow processes, facilitate repeatable transactions and achieve much more efficient results with low costs. It is now very easy to take more reliable and solid steps in the banking sector by improving customer communication and experience with hyperautomation, which is a crucial part of digital innovation.

On the other hand, customers no longer have to wait in long queues as they used to with automation. By integrating all financial transactions into the electronic environment, the customer experience of banks can be improved and high customer satisfaction can be achieved with more agile services.