Posts Category: Banking

What types of decisions are best suited for automated decision-making in BFSI?

Posted By Sneha Jain on 9/September/20 in Banking,Decision Automation

IPL is around the corner and if you love watching cricket then you would know the importance of ‘decisions’ made in that game. It can be a boon or a bane for the team, right? Likewise, decision making in banks is a critical task. Deciding on which loan to approve, Which marketing technique to adapt […]

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Artificial Intelligence for Reducing the Impact of Bad Loans on Bank

Posted By Sneha Jain on 8/August/20 in Artificial Intelligence,Banking

The COVID-19 outbreak is not only a health crisis but also an economic shock. Economic activities have been abruptly halted by the pandemic. Nations around the world are struggling to contain the virus and its economic impacts. The pain has been felt across industries – due to lack of demand and employee layoffs, the cash […]

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Incentive Compensation Automation Solution iNCENTIVO is now – HYPERFORM

Despite widespread adoption of automation for other functions in the banks and financial institutions, incentive and compensation largely remain a manual process. About 76% of banks are still using a combination of spreadsheets, e-mail, manual processes, or homegrown systems to manage incentive and compensation payouts. And we have observed, 95% of the times there exists […]

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The 7-Step Loan Origination Process

Posted By Nishant Gupta on 8/August/20 in Banking,Decision Automation

Origination is the foremost stage of lending services that every individual must go through to obtain a loan, like a personal loan, business loan, home loan, auto loan, etc. Origination is a multi-step process, ranging from application and underwriting to disbursal of funds. Loan origination steps vary by loan type, lender policy, and multiple types […]

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Covid-19 Accelerates Banks’ Move to Digitalization

The economic crisis resulting from COVID-19 pandemic-led lockdown has brought about drastic changes in everyone’s life and the way businesses are done, including the banking industry. While there have been a lot of talks to move to a more digital banking model for almost a decade, the COVID-19 outbreak has coxed the banking sector to […]

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Top 5 ways AI is transforming the insurance industry

The insurance industry is going through a dramatic digital transformation. Technological innovations are accelerating business performance, by enabling insurers to offer better, faster and more accurate coverage. Insurance companies are implementing a wide range of digital technologies to meet ever-changing demands in the market and deliver sustainable operational efficiencies.  AI (Artificial intelligence) is one of […]

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10 ways to Craft your Sales Incentive Plans and Achieve Pathbreaking ROI!

It is not easy to achieve growth in today’s changing and challenging selling environment. Sales representatives are interacting with informed customers, who are prepared with prior research, and asked to sell new types of complex, digital products. Organizations need to find new ways to motivate all employees to improve performance and increase business value. Considering […]

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How can AI help Banks in Reducing Operational Costs?

AI implementation in the form of chatbots, digital payment advisors, & biometric fraud detections can improve customer experience & reduce operating costs

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How is Coronavirus Disease 2019 (COVID-19) impacting the BFSI industry

Covid 2019 has literally shaken the world, it has slowed business down, it has hit a pause on our economy and impacted all the sectors you can think about. The most impacted is the financial sector, this perhaps could be the most serious challenge faced by banks and NBFC’s. The after impacts of COVID-19 will […]

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The new-age digital banking and financial sector revolution

Many young urban folks may never know the stress of rushing to the bank either by taking half-day from office or on their lunch break only to be faced with a long queue and a lot of paperwork. Around fifteen years ago, more than half of all banking transactions would take place within the branch […]

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