Intelligent Automation in Financial Services
How is Intelligent Automation used in Financial Services?
In view of the rapidly advancing digitalization in banking and the insurance industry as well as stricter regulatory requirements, intelligent automation is becoming the key to successful business models. Modern platforms for low-code development, robotic process automation and process mining make it possible to eliminate manual process bottlenecks, control digital workflows in real time and at the same time meet the highest compliance standards – in particular all BaFin regulations. This creates data-based financial insights that enable decision-makers and experts to make informed business decisions and provide individualized customer services.
While traditional IT landscapes often suffer from long development cycles and isolated applications, smart, automated services open up the opportunity to roll out new digital finance and insurance offerings in fractions of the previous time-to-market. The result is measurable cost savings, reliable error reduction, transparent process control and noticeable flexibility – prerequisites for proactively responding to increasing customer demands.
Advantages - Why do we need intelligent automation?
The advantages of intelligent automation are just as varied and complex as its areas of application. The biggest benefits include
Employees can be freed from monotonous tasks to invest their resources in value-adding work, which increases employee satisfaction.
AI-supported automation reduces manual tasks, opens up new applications for automation and speeds up processes.
The lower personnel costs and easily scalable growth reduce operating costs.
The standardization of processes improves quality and consistency, which can prevent human error, especially in repetitive tasks.
Artificial intelligence can evaluate large amounts of data in real time and use predictive analytics to identify patterns that can speed up decision-making.
Companies that use intelligent automation can optimize their resources to speed up other processes.
Automated processes can be quickly adapted to changing business requirements and integrated into existing IT systems.
Customer inquiries can be processed faster and more precisely with the help of AI, which optimizes waiting times and availability.
Examples - Intelligent automation in financial services
At Ventum Consulting, we rely on a combination of modern automation technologies to efficiently map recurring processes. The core component is the use of UI Path for robotic process automation. This is supplemented by intelligent AI agents, which use AI to capture text and image content, analyze the entire context and reveal complex relationships – far beyond a simple keyword search. Our flexible action engine seamlessly integrates the information obtained into existing systems – either via an API connection or directly via the GUI. This allows workflows to be controlled and executed completely autonomously. These building blocks are combined in a low-code framework to create a scalable automation platform. The result: noticeably higher efficiency, less manual intervention and more capacity for strategic and creative tasks. We have already achieved significant process improvements in numerous projects with this approach.
Agile low-code platform as a driver for rapid service innovation
In view of increasing demands for speed and cost efficiency, a cloud-based low-code development platform was introduced in order to standardize service processes and provide new applications in the shortest possible time. At the same time, a structured sourcing process with automated business case calculations established a reliable decision-making basis for contract negotiations. The result is an innovation architecture that creates transparency regarding the necessary functionalities, measurably increases the ROI and significantly shortens the time to market.
- Delayed market launch due to shortage of resources
Bottlenecks among developers and architects led to long waiting times, unused potential and a backlog of new requirements. - Inefficient vendor evaluation and contract negotiation
The lack of standard criteria in the sourcing process increased the complexity of due diligence, extended negotiation cycles and reduced the leverage effect of favorable licensing models. - Unclear roadmap for functional scope
Lack of transparency regarding necessary low-code features made risk management difficult and led to possible bad investments in non-strategic modules.
Period: 4 months | Team size: 2 consultants
Benefit from expert knowledge: Financial and other industry solutions tailored to your needs.
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End-to-end RPA: efficiency boost in credit card business support
In the credit card environment, where profitability and efficiency are closely linked, comprehensive robotic process automation was implemented. From application entry to archiving, the solution takes over all process steps fully automatically and simultaneously fulfills regulatory requirements in accordance with BAFIN. Seamless system integration and cross-functional scrum teams enabled the team to scale without tying up additional personnel resources, thereby securing growth potential in the long term.
- High personnel costs for manual checking processes
Time-consuming entries and interfaces between the application system and core banking system as well as redundant control loops led to high personnel costs and long processing times. - Quality assurance under regulatory pressure
Manual errors in validation and approval steps increased the risk of compliance violations according to BAFIN standards and caused costly rework. - Growth-inhibiting scaling barriers
Increasing application volumes could only be processed with a proportional increase in personnel, which put pressure on the profitability of the credit card business.
Period: 6 months | Team size: 2.5 consultants
Benefit from expert knowledge: Financial and other industry solutions tailored to your needs.
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Process mining for real-time transparency in the account opening process
Process mining with Celonis was used to fully understand the actual account opening processes. Within just a few days, the data-driven analysis provided real-time insights into transaction paths, identified hidden bottlenecks and created a reliable basis for targeted automation and optimization measures. This transparency offensive replaces lengthy workshops and static reporting with dynamic KPI visualizations and significantly accelerates decision-making cycles.
- Isolated solutions instead of a uniform database
Fragmented process data in SAP, CRM and third-party systems prevented a holistic view of the account opening workflow. - Static reporting cycles inhibit agility
Monthly or quarterly reports only provided snapshots and prevented rapid fine-tuning and continuous improvements. - Diffusion of knowledge and responsibility
Specialist and IT teams had fragmented expertise, which meant that neither clear process responsibility nor efficient decision-making channels were established.
Period: 4 weeks | Team size: 1 consultant:in
Benefit from expert knowledge: Financial and other industry solutions tailored to your needs.
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Modular redesign: real-time account creation instead of legacy system mode
After two decades in legacy system mode, the account opening process was fundamentally redesigned. A modular layered architecture replaced outdated structures and established real-time processing for all account types – from new and existing accounts to joint accounts and special variants for refugees. In addition, a sustainable training concept ensured that specialist users will be able to configure and further develop process variants independently in future.
- Outdated legacy systems block real-time capabilities
Batch processing created time lag in processing and led to customer dissatisfaction and increased manual post-processing effort. - High costs for customer communication
Follow-up requests for data completion extended the processing time and resulted in increased service costs and susceptibility to errors. - Technical dependencies
The lack of modular separation made rapid updates difficult, risked extensive regression tests and reduced the release frequency.
Period: 9 months | Team size: 3 consultants
Benefit from expert knowledge: Financial and other industry solutions tailored to your needs.
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Intelligent email routing for sustainable first contact excellence
In the contact center, the first contact resolution determines customer satisfaction and efficiency. With the help of process mining and clustering analyses, email routing was mapped transparently, redundant mailboxes were consolidated and a live dashboard was implemented. This created clear structures and real-time insights that enable service capacities to be proactively managed and the first-contact resolution rate to be sustainably increased.
- Insufficient first contact resolution rate
High proportion of unresolved queries at first contact increased escalation rates and costly call-backs. - Manual and inconsistent routing
Agents selected mailboxes manually, resulting in long waiting times, inconsistent utilization and unpredictable service levels. - Complex mailbox topology
Redundancies and unclear mailbox hierarchies made it difficult to find relevant specialist areas and delayed case processing.
Period: 6 weeks | Team size: 1 consultant:in
Benefit from expert knowledge: Financial and other industry solutions tailored to your needs.
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Global product ownership: scaling through harmonized release governance
The global launch of a new software product required stringent product ownership and harmonized governance for front-end, back-end and low-code teams. Clearly defined backlogs, regular coordination cycles across time zones and a comprehensive enablement program for almost 100 employees resulted in a scalable release roadmap. The result is accelerated releases, reduced error rates and long-term operational competence within the company.
- Siloed understanding of architecture
Different teams had fragmented knowledge, resulting in incomplete implementation of end-to-end processes and frequent misunderstandings in handovers. - Competition for resources due to multi-product operation
Simultaneous development and operational responsibility for several applications led to conflicts of objectives and shifts in priorities. - Intercultural and time coordination barriers
Global time zones, different working cultures and unclear communication guidelines slowed down coordination cycles and increased the risk of planning errors.
Period: 1 year | Team size: 1 consultant:in
Benefit from expert knowledge: Financial and other industry solutions tailored to your needs.
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Central knowledge management as a single point of truth
As knowledge was previously decentralized and versionless, a central knowledge platform was introduced in the AWS cloud as a single point of truth. Standardized SaaS sourcing and automated business case analyses accelerated the choice of provider, while tailored IT governance in accordance with Schrems II and GDPR ensures the highest compliance standards. The unified platform bundles millions of customer interactions and optimizes both communication and onboarding of new solutions.
- Fragmentation of corporate knowledge
Multiple filing silos and uncoordinated versioning led to inconsistencies in customer communication and increased audit risks. - Lack of standard processes in SaaS sourcing
Unstructured evaluation methodology and manual business case calculations delayed the selection of suitable cloud providers and increased project durations. - High compliance hurdles due to Schrems II and GDPR
Data protection requirements required specialized governance models that were not anchored in conventional procurement processes.
Period: 5 months | Team size: 1 consultant:in
Benefit from expert knowledge: Financial and other industry solutions tailored to your needs.
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“Intelligent automation efficiently networks processes in financial services, creates seamless customer experiences and integrates compliance right from the start – for maximum security and transparency.”, Matthias Fink
Intelligent automation for banks and insurance companies - fast, secure and BaFin-compliant
At Ventum Consulting, we rely on a combination of modern automation technologies to efficiently map recurring processes. The core component is the use of UI Path for robotic process automation. This is supplemented by intelligent AI agents, which use AI to capture text and image content, analyze the entire context and reveal complex relationships – far beyond a simple keyword search. Our flexible action engine seamlessly integrates the information obtained into existing systems – either via an API connection or directly via the GUI. This allows workflows to be controlled and executed completely autonomously. These building blocks are combined in a low-code framework to create a scalable automation platform. The result: noticeably higher efficiency, less manual intervention and more capacity for strategic and creative tasks. We have already achieved significant process improvements in numerous projects with this approach.
- Automation as a strategic lever
End-to-end automation solutions transform isolated individual steps into networked process chains and reduce development and throughput times to a fraction of previous cycles. This opens up scaling potential without a proportional increase in resources and operational agility grows measurably. - Holistic customer focus
By seamlessly digitizing and managing processes from account opening to the contact center, a consistent customer experience is created. Dynamic control models enable personalized services and increase the solution rates in the initial contact – which is directly reflected in satisfaction and loyalty. - Data-driven governance
Process mining and real-time dashboards are used to aggregate and visualize process knowledge from fragmented systems and translate it into KPI-driven measures. This data-based governance model ensures fast, well-founded decisions on automation and investment projects. - Integrated compliance governance
We implement regulatory requirements – in particular all BaFin guidelines – as an integral part of the design of the automation solutions. Audit trails in RPA workflows, Schrems II-compliant cloud governance and regular compliance checks minimize audit efforts and ensure maximum transparency and security.
Your experts for Intelligent Automation
Modules used from the UiPath platform
UiPath Robot
Robot that follows a predefined script for the automatic execution of business processes and can interact with various peripheral systems via interfaces or the user interface. This robot is operated on a virtual machine or physical machine at the customer’s site and is to be regarded as a virtual employee.
UiPath Studio
Low-code development environment for the robot with numerous out-of-the-box connectors to peripheral systems such as SAP, O365, Zendesk, Celonis and many more, as well as the option of integrating the results from the UiPath platform into the robot
UiPath Document Understandig
Module for classifying and understanding documents with artificial intelligence. By training the documents, an AI model is created for a specific document category. This model is able to recognize tables with different numbers of lines, for example, and read the content correctly. A combination of OCR and AI is used to recognize characters and information.
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Frequently asked questions about intelligent automation
Intelligent Automation combines artificial intelligence (AI) and automation to make business processes more efficient. By using intelligent AI agents and action engines, unstructured data can be processed and automated decisions can be made to reduce manual tasks.
Traditional automation is based on predefined rules, while intelligent automation works with AI and machine learning. This enables systems not only to perform tasks, but also to learn, adapt and make decisions independently.
Intelligent automation increases efficiency, reduces costs and minimizes errors through standardized processes. It is flexibly scalable, improves service quality and frees up employees so that they can concentrate on value-adding tasks.
Customer service, finance and accounting, logistics, HR and IT operations benefit in particular. For example, companies can automate complaint processes, inquiry processing, data processing and decision-making.
Yes, by using APIs or the graphical user interface (GUI), existing IT systems can be easily connected and automated workflows seamlessly integrated.
Yes, examples include automated complaint processing, responding to customer inquiries about delivery status & tracking or AI-supported intent recognition in customer service. Companies benefit from faster processes, greater accuracy and improved service quality.