Everest Group Research: “Think Banks Have Gotten the Most Out of Automation? Think Again!” | WorkFusion

Everest Group Research: “Think Banks Have Gotten the Most Out of Automation? Think Again!”

In this recent report, experts at Everest Group Research urge forward-thinking leaders in banking and financial services to delve deeper into automating a range of business processes. As they point out: 

  • Many of the most common use cases for existing automation are customer-facing RPA — not Intelligent Automation. It’s a great start, but stops well short of the vast opportunities available for innovation in the sector.  
  • Something that might be holding institutions back is the complexity of installing these more powerful solutions — but ironically, the more advanced the solution, the less supervision and model training is required once in place. The infographic below demonstrates this seeming paradox: 

  • Plus, throughout the industry, even the simpler RPA solutions are performing below their possibility. According to this report, “nearly 70% of deployments are with fewer than 10 bots — very limited utilization.” 

We’ve licensed this fascinating report, which discusses these topics, articulates many challenges such institutions face, plus offers several concrete examples of use cases already in production at BFSI enterprises in Europe and the U.S., across several lines of business. Download a complimentary copy and learn more today!