Intelligent Process Automation in Banking: Think Resilience. Part -- 2

In the first part of our blog series we have centered our focus on various operational challenges banking enterprises have been dealing with, how deploying virtual assistants will augment banking CX, finally the potential Enterprise Bot's BankAI holds in revamping contact center operations. Let's now move to the various applications of intelligent process automation in banking in the 2nd part of our blog: Generating suspicious activity reports ( SAR) is a regular requirement in banking institutions. However, reading manually through reports and updating details in the SAR form is time-consuming and involves high cost. Enterprise Bot's BankAI powered by NLP & RPA not only scans through high volumes of lengthy compliance documents in minutes but also extracts the required information for filing SAR. Most banks still use rule-based detection systems that often raise false positive alerts.