Post by account_disabled on Mar 10, 2024 4:16:44 GMT -5
Experience: automation will be used to further personalize banking services and improve customer experience. Data collection and analysis will make it possible to offer personalized offers, financial recommendations and services tailored to the individual needs of each client. 7. Security and data protection: automation will be applied to data security and protection to detect and prevent fraud, identify risks and safeguard sensitive customer information. Automated solutions will improve cybersecurity and financial crime prevention. In conclusion, the automation of financial and banking processes is transforming the way operations are carried out in the sector. The benefits of automation are significant and its adoption continues to grow in various organizations. By implementing banking and financial automation technologies, businesses can improve efficiency, accuracy, and reduce operating costs. As we move into the future, it is exciting to imagine the possibilities that intelligent automation and blockchain technology can offer the financial and banking sector.
Risk with clm softwarespan although the financial sector has presented a higher level of development in its digitalization processes than other industries, there are still tasks that are carried out manually, especially with regard to contract management. However, according to Germany Mobile Number List the study the state of systems of agreement, 2021: a spotlight on financial services and insurance carried out by forrester, 63% of respondents in the financial services sector affirm that modernizing contract and agreement processes it's a big priority. The above is in order to minimize financial risk and end the gaps and pain points that the life cycle of contracts naturally entails, such as security and compliance , among others. The contractual panorama of financial entities for the security officer or security manager, improving compliance with legal and administrative regulations is essential, with the main responsibility being the protection and maintenance of data and computer systems to minimize financial risk.
For this reason, managing the processes related to contractual management manually is an obsolete and unsafe method, since there is no way to clearly identify the risks involved and whether the privacy and protection of personal data is actually being complied with. , especially when a high volume of documents of different types must be handled. The most negotiated terms 2020 report carried out by the wcc , which allows companies and organizations in all areas to better understand the contractual landscape of their negotiations and the most used and valued types of contracts, points out that in the financial sector, part of the terms the most important contractual aspects handled worldwide - in the scoring range of 3 to 4 points, equivalent to “very important” and “extremely important” - are: service levels; regulatory compliance, data security, data privacy and cybersecurity. For its part, among the most controversial contractual terms in the sector, that is, those that are the most frequent cause of complaints, service levels stand out as number one, with 34% of complaints, exceeding the 30 listed aspects.