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Related Terms

Business Process Management (BPM)
Straight-Through Processing (STP)

DEFINITION

Process Automation

Process automation is the use of software to automate manual, repetitive, and time-consuming tasks within business processes. It involves mapping out process steps, business rules, and decision points, then configuring software to execute those processes with minimal human involvement. Process automation aims to streamline operations, reduce errors, and improve efficiency.

With Atfinity’s no-code platform you can digitize and automate complex banking processes. Atfinity’s process automation capabilities are purpose-built for the banking industry, with pre-configured solutions for common processes like client onboarding, KYC, loan origination, and periodic reviews. By automating these critical workflows, Atfinity helps your bank drive operational efficiency, ensure compliance, and improve the customer experience.

– Non-technical users to can easily configure processes and automate workflows without coding.
– An AI-powered rules engine defines and executes complex business logic and decision points.
– Atfinity integrates with core banking systems, KYC/AML services, and data providers to enable straight-through processing.
– Dynamic case management coordinates front-office, compliance, credit, and operations activities within automated workflows.
– Process rules drive automated document collection, generation, and approvals.
– Dashboards and audit trails provide real-time process monitoring, reporting, and compliance.

Synonyms

Acronyms

RPA (Robotic Process Automation), BPA (Business Process Automation)

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Synonyms

Acronyms

RPA (Robotic Process Automation), BPA (Business Process Automation)

Examples

A bank uses process automation software like Atfinity to streamline client onboarding by automatically collecting data, assessing risk, generating documents, and routing cases for approval based on predefined business rules.

FAQ

Process automation reduces manual effort, minimizes errors, ensures consistency, improves turnaround times, and provides an audit trail. It allows staff to focus on higher-value activities.

Processes that are rule-based, repetitive, high-volume, and prone to human error are prime candidates. Examples include onboarding, KYC reviews, loan origination, and other compliance-related workflows.

Process automation is a key enabler of digital transformation. By digitizing and automating end-to-end processes, organizations can improve the customer experience, increase operational agility, and drive cost efficiencies.

Related Terms

Business Process Management (BPM)

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worldwide trust Atfinity to drive their digital transformation.

Join the Future of Banking

Book your demo today and see why leading financial institutions worldwide trust Atfinity to drive their digital transformation.

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