#AI #Automation #LOS

AI & Automation – core for Lending LOS


Automation and artificial intelligence are poised to reshape the finance function. It is clear that technology is affecting financial services in a multitude of ways and the Finance organizations perform a wide range of activities, from collecting basic data to making complex decisions and counselling business leaders. As a result, the potential for improving performance through automation varies across subfunctions and requires a portfolio of technologies to unlock the full opportunity. FinTech will drive the new business model and the sharing economy will be embedded in every part of the financial system. Secondly, Blockchain will shake things up and Digital becomes mainstream. However, Customer intelligence’ will be the most important predictor of revenue growth and profitability



Advances in robotics and AI will start a wave of ‘re-shoring’ and localisation and going forward, the public cloud will become the dominant infrastructure model. Clearly, automation is driving betterment of lenders and borrowers alike. We have seen that the Regulators are turning to technology and most important is Cyber-security will be one of the top risks facing financial institutions . Choosing the right LOS is a strategic decision and involves a thorough mapping of business needs with solution features. The overall mapping sheet should contain all the points related to customization, scalability, time-to-market, after-sales support, licensing and hosting expenses, and throughput. Finally, a combination of Business Process Management (BPM) and Robotic Process Automation (RPA) could be a great approach to ensure the delivery of both technical and operational requirements.

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