The Arrival of Robots to the Financial Industry
MEXICO CITY (PRWEB) February 05, 2018 -- In the last few years, companies and enterprises have been using automation to reduce costs on a number of processes on several layers of operation, but particularly those which are considered very labor-intensive. The usage of robots has been pivotal to an efficiency increase in the manufacturing sector, but until now there have been few times in which these technologically advanced operators have been used by financial or banking institutions.
According to the last period analyzed by Statista, the top 5 commercial banks in the United States had a combined annual revenue of 413.67 billion dollars, which makes this specific financial sector one of the biggest of the country. That said, even with these incoming cashflows, the biggest institutions of the market still have areas of opportunity which they can take advantage of to make their processes more efficient and, by extension, increase their net profits.
“Two of the core banking problems shared by most of the commercial institutions on the financial sector are the analysis of loans and the creation of client’s accounts”, said Fernando Leibowich Beker, CEO and founder of consulting and process automation multinational firm BeeckerCo. “However, this particular challenge doesn’t originate from complexity, but from volume: even the smaller businesses constantly need to make this operations for their users, which occupies a considerable amount of manpower. With BeBOP, we want to introduce a robotic alternative”.
BeBOP stands for Beecker Banking Origination Process and is the most recent product of this multinational company. With its main objective being the financial automation, this robot is built on top of advanced business process management systems powered by IBM and is focused on improving two of the core banking processes: account opening and loan approval. Furthermore, it has become the very first open-source, free-trial software of its kind.
“Today, professionals spend a considerable amount of time helping clients with rather mundane tasks, instead of using their full abilities on more productive actions for the financial institutions. Of course, some loan analysis and account openings are more difficult than others for various reasons, but currently even the easier ones require too much work. The whole idea of these automated banking processes is to address these standard operations with technological advancements, and only pass down the harder cases to human executives to create extra value from their time and, therefore, for the company,” emphasized Leibowich Beker.
BeeckerCo’s robot is born from years of collaborative efforts between the company consultants, software specialists and financial advisors. This multinational firm, founded in 2013, has created this product with the objective to help their exclusively AAA clients evolve their businesses through services focused on Robotic Process Automation and Business Process Management, trends which aim to make repetitive tasks easier, faster and cheaper, as well as model, adjust and control the inner operations of enterprises.
Alejandro Chávez, My Press, +52 15546382723, [email protected]
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