FinAi Podcast

 In this podcast, Signavio SVP Alex Day identifies four key steps banks should take when it comes to processes, automation and process mining. 

This week, Bank Automation News digs into how APIs support integration and strategic automation on the heels of UiPath’s announcement of its $40.5 million acquisition of API vendor Cloud Elements. Also this week, the BAN team discussed security challenges at credit unions and the sharp increase expected in regulation technology spending, which is predicted to exceed $130 billion by 2025. 

 Automation is moving up from the back office to the front office, where banks are increasingly using automation to sell and interact with customers. The challenge will be to ensure those encounters feel personal, says David Foss, chief executive of financial services at core provider Jack Henry, in this episode of The Buzz podcast. 

This week, Bank Automation News explored the state of automation in mortgage lending and the three stages of intelligent automation, which combines robot process automation (RPA) with artificial intelligence (AI). 

Legacy systems are one of the financial industry’s top three barriers to automation. That’s why digital banks, which are unencumbered by legacy applications, are often able to do what larger banks can’t — and at a faster pace. In this podcast, Charlie Newark French, chief operating officer for the automation fintech Hyperscience, discusses with Bank Automation News the three main barriers that banks face, but that neobanks do not. He also discusses key performance indicators for automation.

This week, Bank Automation News saw a flurry of funding rounds for automation-related fintechs, including a $220 million Series F round for the intelligent automation company WorkFusion. The New York-based WorkFusion uses artificial intelligence (AI) and robots to automate document-heavy processes in highly regulated industries. The company plans to use the funds to explore further into cloud-based automation, AI and no-code solutions, CEO Alex Lyashok told BAN. 

Corporate banks will strive to become “platform players” in the next four years, a shift that will fundamentally driven by automation.  A platform player is a bank that offers a full ecosystem of third-party products and services to clients, one of three paths most commercial banks will pursue, according to Tim Tyler, a senior principal in solutions consulting with financial software provider Finastra.

This week, Bank Automation News explored the intersection of automation and artificial intelligence, diving into the opportunities and challenges they present. BAN spoke with Bank of America’s newly appointed head of digital to discuss the calculus behind prioritization and how AI and automation, in the form of virtual assistant Erica, are driving customer engagement. 

In this podcast, David McLaughlin, CEO and founder of anti-fraud vendor QuantaVerse, discusses the conflicts chief risk and compliance officers face daily, how to automate fraud investigation, and whether automation helps or hinders the fight against fraud and money-laundering. 

This week Bank Automation News took an inside look at automation strategy at the $1.96 trillion Wells Fargo, which has thousands of attended bots and hundreds of unattended bots that save the bank millions of hours on an annual basis.