convedo Intelligent Process Automation Blog

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Business Process Management


What does digital transformation mean for traditional businesses?


Technology has created untold opportunities over the last decade, and with the speed of development moving more quickly than ever, this trend shows no sign of stopping. Traditional businesses are in an eat-or-be-eaten position. If they can't manage digital transformation effectively, they will have a hard time staying competitive in a marketplace that moves more and more quickly.

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Process Automation in Banking: Prioritizing Integration

There are three means of conducting bank business: analog, digital and automated. Analog banking involves the slow and inefficient use of pens/pencils, paper and filing cabinets, a system that is extremely vulnerable to mistakes, errors and duplication. Digital banking is a step more advanced and includes the use of spreadsheets, email, hard drives and servers. But, while the tools and systems used are digital, data input and multi-platform synchronization is still done manually.

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Process Automation in Banking: What was once a trend, Now a Requisite

Customer-side digital banking is not new. From ATMs to online banking, digital banking has been a reality for customers for decades. Banks without a certain degree of automation find it difficult to compete in a personal and business banking market that puts a premium on convenience and efficiency.

Surprisingly, however, back-office banking at many institutions still requires a great deal of effort and personnel to maintain. Even more surprisingly in the digital age, back-office banking practices still include large amounts of paperwork. But robotic process automation is changing that.
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