Fintech automation: Innovative tools that will transform your business

business man working at laptop

General automation trends in the fintech space

  • Human resources (HR): Key HR processes — such as recruiting job candidates, conducting background checks, training new employees, evaluating work performance, updating company policies, and maintaining legal compliance — can all be streamlined via automation. Three of the most popular HR automation tools in the financial services space are Cflow, 15Five, and Workday.
  • Customer service: With chatbots and other customer service automation software, such as Zendesk and Fresh Desk, fintech companies can offer a smoother customer experience — while also saving time and money. These tools are designed to handle repetitive tasks, like responding to basic inquiries and creating customer support tickets.
  • Accounting: Administrative tasks like bookkeeping and tax filing can be made faster and more accurate with intelligent automation. Tools like Quicken, Zoho, and Xendoo are often used by fintech startups to avoid manual, error-prone accounting processes
  • Billing: Fintech organizations process many invoices on a daily basis. With automated payment systems like Stripe and NetSuite, these invoices can be written, scanned for errors, and approved in a matter of minutes.
  • Mobile: Through secure mobile channels, a financial institution can support remote-work capabilities and enhance communication between its staff, customers, and third-party service providers.

Fintech process automation tools and strategies

  • Robotic process automation (RPA): In fintech, RPA tools are most commonly used to extract data from legacy systems, so that employees don’t have to do so manually. Keep in mind that if your platform’s UI regularly changes, RPA may not be the best fit.
  • Integration platform as a service (iPaaS): iPaaS solutions are used by fintech IT departments to automate tasks around the building, testing, launching, and managing of integrations between various software applications. They are paid for on a subscription basis and require on-premise deployment.
  • Integration software as a service (iSaaS): Like iPaaS, iSaaS is offered as a subscription service, but doesn’t come with the same level of security. These solutions are used to automate basic tasks like directing emails to a spreadsheet or Slack channel.
  • Bots: With AI and ML technology, bots can be trained to perform tasks like responding to basic customer requests, setting up appointments for sales reps, sending important notifications to users, and so on.
  • Enterprise automation: These solutions come with user-friendly interfaces that help IT and non-IT personnel automate workflows — from data processing to application integration — between separate databases, apps, and microservices.

Use cases for automation in fintech

  • Speeding up the loan approval process: The approval process for loans and credit cards used to be several weeks. Now, because of intelligent automation technology, it can be completed in a matter of minutes. ML algorithms are trained to capture and analyze an applicant’s FICO score, annual income, and other relevant data — so that lenders can quickly and easily assess the risk, make a decision, and move on.
  • Reducing fraud: Programmed to identify suspicious user patterns and behaviors, today’s AI- and ML-based tools detect fraud faster and more effectively than any human. Automation tools can also speed up the identity verification process via two-step authentication and other methods — so the customer experience never gets disrupted unless an actual fraud risk is present.
  • Integrating data from disparate sources: Automation tools enable fintech companies to eliminate manual data entry, which is highly inefficient to begin with. Critical business data from CRM, payroll, eCommerce and other third-party solutions can be centralized in an ERP system, without the risk of human error.
  • Maintaining industry compliance: By identifying red flags early through automation, organizations can protect customer data and avoid breaching financial industry regulations, which often result in expensive fines and other consequences.

Implementing automation tools for your fintech business




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A digital solutions partner with a data-driven approach that empowers companies at the intersection of UX design, development, & business.

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