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Revolutionizing Banking: How Automation and BPO Managed Services Are Shaping the Future – A Conversation with Walt Boyer

Revolutionizing Banking:

How Automation and BPO Managed Services Are Shaping the Future – A Conversation with Walt Boyer

As the commercial banking sector advances, the integration of innovative technologies and strategic services is becoming increasingly vital. In this exclusive conversation with Walt Boyer, our Managing Director of Banking, we explore how Robotic Process Automation (RPA) and BPO Managed Services are fundamentally transforming banking operations. Discover how these advancements enhance efficiency, accuracy, and customer service while significantly reducing costs. Walt also provides insights into how AIS is uniquely equipped to help banks integrate these changes and achieve their operational goals.

1. How is the adoption of RPA transforming the operations of commercial banks?

The banking industry has long utilized technology to process large volumes of transactions efficiently. RPA is a proven technology that enhances accuracy and efficiency with a near-limitless ability to scale transaction processing. By deploying bots that sit on top of core systems, banks can automate components of their back office that require manual, repetitive data input tasks. However, when outsourcing RPA development, it’s critical that the partner also provides exception handling support and ongoing maintenance of the bot. This results in improved accuracy, faster completion times, and often a significant reduction in associated costs, sometimes exceeding 50%.

2. Can you share examples of how BPO managed services are helping commercial banks improve efficiency and reduce costs?

There are numerous examples, which include a recent conversation I had with a large, publicly traded U.S. banking organization holding $100 billion in assets and extensive nationwide locations. This organization made a strategic commitment to improve its efficiency ratio by leveraging BPO managed services, employing 10% of its FTE count in an offshoring arrangement. This approach has led to improved quality and substantial cost savings, demonstrating the benefits of managed services in the banking sector.

3. How is AIS positioned to support commercial banks in overcoming their current challenges?

AIS is strategically positioned to provide specialized services that address key industry challenges such as operational inefficiencies, compliance burdens, and cost pressures. Our expertise in automation and highly skilled talent allows banks to streamline processes, enhance accuracy, and ensure regulatory compliance. For example, AIS delivered BPO managed services to a prominent regional bank ($15 billion in assets) by providing over 100 dedicated associates to manage 60+ processes across 14 functional areas. The led to significant financial benefits for the bank, generating a labor cost differential of over $4 million through the course of the partnership.

4. Can you discuss some of the key services AIS offers that are particularly beneficial to commercial banks?

AIS offers several key services that provide significant benefits to commercial banks:

  • BPO Managed Services: Our team seamlessly integrates with your existing business environment to manage your service, fulfillment and administrative processes from end to end.
  • Process Automation: Utilizing our staff of experienced software engineers, we build (RPA) and integrated workflow solutions that optimize your back-office operations. These automation solutions reduce manual effort, minimize errors, and increase overall efficiency, enabling your bank to operate more effectively.
  • Staff Augmentation: We recruit, train, and allocate specialized talent to fill immediate gaps in your project-based or full-time staffing requirements. Our extensive network and thorough training programs ensure that you have access to skilled professionals who can contribute to your bank’s success from day one.

5.  What sets AIS apart from other service providers in the banking sector?

Our industry expertise, commitment to quality, and flexibility to deliver tailored solutions.

Our team's extensive experience in financial services ensures that we understand the unique challenges and requirements of commercial banks. Additionally, our emphasis on innovation through automation allows us to provide solutions that drive efficiency and effectiveness. We pride ourselves on building strong, collaborative relationships with our clients that help us align our services with their strategic goals.

Perhaps, one of the most unique aspects of AIS is our Proof of Concept program. We understand the perceived risk when considering a new service provider. For peace of mind, we offer a 30-day trial at no cost so banks can assess the efficiency and suitability of our services without the need for a long-term commitment.

As the banking industry continues to evolve, embracing RPA and BPO managed services through strategic partnerships will be crucial for staying competitive. Providers like AIS can help commercial banks achieve sustainable growth, optimize efficiency ratios, and significantly cut overhead expenses.