3 Challenges for Banks in the “New Normal”

Amidst the chaos of the Covid-19, the implementation of technological advancements is essential with face-to-face financial services such as the banking industry in order to keep up with the demands of the post-pandemic scenario. To resolve the problem, Robotics Process Automation (RPA) is now transforming the banking sector.

Source: HelpSystems

As we all know, on-location operations are crucial in banking as the customers are demanded to testify for the purpose of security. However, the present circumstances make offline activities unsuitable due to the direct contact restriction. Therefore, not only  do customers less likely want to come personally to the bank for their businesses, but the employees also struggle in order to fit in this situation because they may not have the perfect conditions for remote working. In fact, in these cases, banks are unable to supervise and review the efficiency of the work.

Source: Freepik

Knowing these remote exercises, banks have to find ways to equip their employees with the right resource to approach their customers. The priority task that banks need to cope with is developing the digital communication channel between branches and customers while reducing any potential risks in a virtual environment.

Digitally revamp while maintaining the customer satisfaction

As the digital transformation is implemented in the system, there will be a shift in the customer experience to the services that banks provide. It takes time that customers can get used to the new operation and there will be several issues in the beginning of applying the new technology. The obstacle of paying attention to the customer satisfaction in the digital revamp strategy is very important because it highlights the inaccuracy in technology adoption, thus the prompt improvement. Another issue rising from this is that banks need to notice the integration of data and information across all channels.

Source: CiGen

Virtually encourage and inspire the staff

When the customer experience is highly appreciated, the welfare for bankers is also the fundamental goal. Working distantly means that there is no supervision and control from the boss, hence less pressure in comparison with the office environment. This challenge is brought up to leaders since banks’ employees have to change their work condition. Being mixed between the workplace and a relaxed place, the employees might lose their motivation, a fact which leads to the fall in their productivity and the bonding among staff.

Source: 10xDs

RPA to the rescue

After over a year of fighting with the consequences from the pandemic, banks have started to apply automation technologies. RPA resembles the virtual workforce which aids banking sectors to grow overtime and strengthens security. In a simple way of understanding, this robot automates all the manual repetitive tasks in the system as well as create a more precise data environment so bankers can raise their efficiency and avoid the mistakes in analysing the figures data. By decreasing the manual work volume for employees, they can focus on improving customer experience, hence bolsting the satisfaction. Moreover, less work volume equals less pressure on the staff, an act which provides an ideal workplace in the “new normal” situation.

Time-saving, reduction in cost, enhancement in productivity, minimizing errors from data entry and analysing are fews of the endless possibilities that RPA provides to businesses. With the automation technologies, the virtual assistants push banks growing faster and providing more reliable, efficient services.

Source: Process Maker

akaBot (FPT Software) là nền tảng RPA tiên phong tại Việt Nam, được Gartner Peer Insights xếp hạng là RPA ‘Strong Performer’ trong báo cáo ‘Voice of the Customer’ 2021. Với triết lý ‘Fast to Mass Automation’, akaBot đã phục vụ khách hàng tại 13 quốc gia, 8 ngành dọc (tài chính ngân hàng, bán lẻ, sản xuất, logistics…), là giải pháp Tối ưu Vận hành nhanh chỉ từ 1+ tuần, tiết kiệm 60% chi phí, tăng tới 80% hiệu suất & khả năng mở rộng lên tới 500+ quy trình cho doanh nghiệp.

Tìm hiểu thêm về tối ưu vận hành doanh nghiệp với RPA!

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