Financial Services
Top 10 Financial CRM Software in 2024
As the financial sector’s dynamics continue to evolve in 2023, the necessity for customized IT solutions becomes more obvious. During this digital revolution, the global customer satisfaction rate for banks decreased slightly, registering a score of 3.94 out of 5, a tiny drop from the previous year.
10+ Generative AI Finance Use Cases in 2024
Generative AI expanded with mainly B2C applications like ChatGPT. However, enterprise generative AI, particularly in the financial planning sector, has unique challenges and finance leaders are not aware of most generative AI applications in their industry which slows down adoption. This unawareness can specifically affect finance processes and the overall finance function.
Top 4 API Use Cases & Examples in the Finance Sector in 2024
API has proven to be beneficial for companies as they : APIs are considered to be mission-critical by more than 90% of executives. However, the financial sector has been slow to adopt API as part of its digital transformation (see Figure 1).
Hyperautomation in Banking: Use Cases & Best Practices [2024]
The use of emerging technologies such as artificial intelligence and RPA is already prevalent among businesses in the financial services industry: The next step in enterprise automation is hyperautomation, one of the top technology trends of 2023.
Open Banking APIs in 2024: Definition, Benefits & Applications
Open APIs have enabled the creation of open banking. In May 2022, Open Banking Implementation Entity (OBIE) reported more than 1 billion successful API calls were made by account servicing payment service providers (ASPSP); this number was 410 million in May 2020. Open banking has provided considerable benefits to its users.
Intelligent Automation in Financial Services & Banking in 2024
Companies in the financial services industry are aware of the potential benefits of AI and automation: Banking will be one of the two industries spending the most on AI solutions by 2024, according to IDC. About 80% of finance leaders have implemented or are planning to implement RPA, according to Gartner’s RPA Stats.
How Can Automation Help Your Order to Cash (O2C) Process? [2024]
Order to Cash, or O2C, is a chain of steps businesses follow from when they receive orders up until they ship them out. The problem; however, is a lack of consistency in task duration.
Process Mining in Banking: Top 12 use cases & case studies '24
It is estimated that banks will adopt automation for bank functions, capacity enhancement and manual lower-value tasks by 10 to 25% in next few years.
Digital Transformation in Banking: Top Trends & Best Practices
Unlike industries like healthcare, financial services mostly deal with structured quantitative data which makes it easier to digitize and automate processes. This is a double-edged sword: Financial services institutions can have more effective digital transformation initiatives compared to other industries, however, it is also easier for attackers to launch digital-native financial institutions.