ABC bank wants to automate its banking operations.Customer can register with the bank to perform the banking operations like online fund transfer,pay creditbill,view profile.From the above scenario identify the possible behavioursSelect one:None of the optionsautomate,operationsonline fund transfer,pay creditbill,view profileABC bank,customer
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Answer:
Intelligent automation has the power to impact operations. Here are five key reasons why:
Simplifies work routines. Not all work is created equal and in many banks simple work is intermingled with complex work. This can create issues such as process bottlenecks, complicated workflows and slow customer service. Separating the simple from the complex can go a long way in making bank interactions better for customers and employees.
Reduces process re-work. Enabling repeatability, enhanced predictability and streamlining the process helps a bank reduce hand-offs. Couple this with synergies of combined human-AI skills to run the process as a highly efficient factory and the benefits grow exponentially.
Improves work quality. Automation aims to reduce errors by eliminating human touchpoints and judgment for routine activities across the banking value chain.
Enhances efficiencies. RPA can free up resource capacity to focus on higher value activities.
Speeds up innovation and time to market. Increased throughput, lower re-work and fewer errors all result in quick turnarounds.
Banks should start their automation journey with the goal to look beyond cost savings. Five keys for success:
It’s not a one-size-fits-all. Organizational processes can be repetitive or event-based with different types of data exchange. Assessment of process types and data is required to plan and using RPA or intelligent automation will actually simplify targeted processes to enhance efficiencies.
Cost is only one piece of the puzzle. Automate because you want to create an innovative employee experience by focusing your people on the right activities, thus reducing errors and eliminating re-work. And improve the customer experience and speed to market. Efficiency will be a collateral advantage, but it should not be the going-in driver.
Draw on operational data to drive front-office behavior. Operations is a treasure trove of data—from complaints and service/product issues to customer life events. Data automation with advanced analytics can extract valuable insights that banks can use to delight customers by anticipating their needs based on past transactions.
Think big but start small. Circumvent the product-versus-customer-versus-channel debate by selecting a starting area and get going. Deliver in sprints, build momentum and stay the course.
Agility is a mindset. Work through sprints without over-studying the current state, and then reimagine how the future could work in the context of an automated process.
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