The majority of business transformation is dependent on digital transformation. SS&C Blue Prism, helps organisations to achieve their goals by unifying their workforce (human and digital), transforming their journey (from task to process to operations), and scaling it enterprise-wide. Our comprehensive intelligent automation platform has 3 key components (Automation, BPM, and No-code UX builder). To know more about workforce transformation in the banking sector, Srajan Agarwal of Elets News Network, interacted with Kaushlendra Singh, Country Head, Sales, SS&C Blue Prism.
How is the cloud helping banks in safeguarding data and boosting digital transactions in the country?
Across the global financial services industry, organisations are leveraging private, public, and hybrid cloud solutions to create innovative and secured products/services to fuel their enterprise transformation. The IT infrastructure that is needed to create, manage, and scale various assets helps in running the modern banking system. Cloud provides the agility, availability, and robust infrastructure that acts as a catalyst for enterprise business transformation and a potential game-changer for how financial services organisations will operate in the future. It is probably one of the most important factors contributing to the growth of many Fintech start-ups and banks to create new-age digital-first experiences for customers. India has certainly leapfrogged in the last 5-10 years as compared to many developed markets by essentially building digital-first financial services organisations. Cloud will continue to help banks and other digital native fintech companies to disrupt, manage disruptions and keep evolving.
How do you perceive India’s readiness to the adoption of technologies like Artificial Intelligence (AI) & Machine Learning (ML) in banks?
We believe the adoption of Artificial Intelligence (AI) is growing rapidly. The Indian banking industry is at the forefront of digitisation, and organisations are shaping the future of banking by efficiently adapting to new technologies. The majority of the fintech companies in India started as digital natives with AI being the key building block in their business models. If you analyse the journey of the mainstream banking industry, one can understand that it all started with cloud adoption, because leveraging AI and ML is quite challenging in the absence of public cloud infrastructure. Going forward you will see banking operations being run in a hybrid model where some part of the front office and a large part of middle/back-office operations will have a human workforce working alongside digital workers (aided by AI/ML).
How has Intelligent Automation (IA) evolved within SS&C Blue Prism over the years?
Intelligent Automation (IA) has evolved significantly at SS&C Blue Prism. We often talk about the evolution of digital workers / software robots to become more human-like by imparting digital skills such as visual perception, knowledge/insight, learning, problem-solving, planning, and collaboration. A range of technologies gets into play when we do this, right from Optical Character Recognition (OCR), machine learning, and other components of AI. Essentially the line between a human and a digital worker is getting blurred and digital workers are getting more equipped to understand and manage many non-deterministic tasks based on AI infusion to facilitate decision making.
How AI-enabled banks are automating complex and end-to-end transactions with Robotic Process Automation?
Intelligent automation is business-developed, no code automation that pushes the boundaries of Robotic Process Automation (RPA) to deliver value across any business process in a connected enterprise. SS&C Blue Prism’s intelligent automation platform connects both the human and digital workforce with systems, cognitive tools, applications, and technologies, including AI, machine learning, OCR, and the Blue Prism Digital Exchange, an ecosystem of ready-made automation available to business users at the click of a button.
Also Read | We believe Cloud Transformation is not just a technology transformation but a complete business transformation
The key here is “workforce transformation” by putting digital workers at the core of operations alongside human workers. This provides a unique platform for banks to empower AI-enabled digital workers to undertake complex transactions with human oversight if required.
What measures is Blue Prism implementing to enhance its business transformation in the coming years?
As per recently conducted research, nearly 70 per cent of organisations select process automation as the key driver for digital transformation. The majority of business transformation is dependent on digital transformation. In SS&C Blue Prism, we help organisations to achieve their goals by unifying their workforce (human and digital), transforming their journey (from task to process to operations), and scaling it enterprise-wide. Our comprehensive intelligent automation platform has 3 key components (Automation, BPM, and No-code UX builder). We continue to innovate by investing in AI technologies to ensure we remain a partner of choice for customers who are looking at business transformation as a continuous journey.
The Banking & Finance Post is an initiative of Elets Technomedia Pvt Ltd, existing since 2003.
Now, Elets’ YouTube channel, a treasure of premier innovation-oriented knowledge-conferences and awards, is also active. To Subscribe Free, Click Here.
Get a chance to meet the Who’s who of the NBFCs and Insurance industry. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.
Advertising with The Banking & Finance Post, a unique opportunity to reach a huge global audience in the BFSI domain, we assure to present your brand’s message in a bigger and more beautiful way than any other platform.
Get a quote
Stellar IT Park, Office No. 7A/7B, 5th Floor, Tower – 2 Annexe Building, C-25, Sector – 62, Noida, Uttar Pradesh – 201309, India
Do you enjoy keeping up with business and finance industry? Subscribe to The Banking & Finance Post, Asia and the Middle East’s leading magazine capturing every update on the BFSI sector.
Subscribe Now
Buy Print Conference Report Read Online
