ProcessMaker’s Post

I love to be on the calls where we show the insights of our new #processintelligence product to ProcessMaker customers. I love to hear all of the “wow” and “I had no idea” type of comments that customers have about their processes as they realize the potential impact they can have in their businesses by improving those processes. It is also interesting to see the rise of AI being used in organizarions without planning, knowledge, and often without the appropriate security guardrails.

Iris Bank sought to improve operational efficiency, streamline processes, and identify areas for automation within its daily operations. They turned to ProcessMaker Process Intelligence to help achieve these goals, with key findings include an approximate annual savings of +$250K. Read more here: https://lnkd.in/gqP_a3Nb

Addressing Key Pain Points in Banking and Corporate Relationships This morning, our Founder John Argiro, shared some insightful observations after a series of meetings with banks and large corporates. The challenges are clear—corporates are growing frustrated with the delays in response times from their institutional banks, and Relationship Managers within those banks are equally frustrated with process bottlenecks. At Argiro, we understand these pain points well. With our expertise in automating key processes and reducing inefficiencies—without sacrificing risk management—banks can respond faster and more effectively. We specialise in taking banks from the bottom quartile to the top quartile in customer experience (CX), driven by data, technology, and over 100 years of combined industry experience. Watch John's video for more insights, and reach out to learn how we’re helping banks tackle these challenges head-on.

Good insights John and totally consistent with leading edge work at RMIT University. Yes - policies and risk appetite statements are essential, but relying solely on people manually navigating this complex overlay leads to errors, inefficiencies and opportunity costs. Integrating these frameworks into workflow management tools is crucial for codifying, triaging, and dynamically managing risk effectively. This automation not only streamlines processes but also empowers risk practitioners to focus on strategic tasks. I feel for our Risk practitioners, they are constantly being asked to always do more with less, but the tools we give them aren't empowering them. Now is a great opportunity to invest in technology solutions that can help risk practitioners and benefit bankers and customers at same time. For those who are sitting at the cusp of a digital age saying lets just drop as many of our policies that we can and that will fix it, that is not the answer, but exploring that will be subject of a different post.

Quantifi’s recent bank risk management survey of CRO’s sheds light on the multifaceted landscape global banks navigate. This blog reveals the primary challenges and evolving risks faced by banks https://lnkd.in/ew8ygUgw

In the world of banking, staying ahead means continually adapting to new technology, regulatory shifts & market dynamics. We surveyed CROs & Head of Systems, from a range of tier 2 banks, about their top 3 challenges. Find out what they had to say > https://lnkd.in/eDrrKVyu #banking #capitalmarkets #riskmanagement #risktechnology

The Bank Branch Dilemma: Asset or Liability? Part 3: Are Bank Branch Still Relevant Today and Tomorrow - The Consumers’ Point of View To consumers: 1.   Branches still play an important role in high volume, routine transactions. They offer the opportunity to deliver better personal customer experience. 2.   Convenience is the key factor driving customer experience. Consumers still look forward to human interaction at branch. 3.   Hybrid approach (i.e. both human interface and digital solutions) is well accepted by consumers. Human interface and advisory services can drive customer confidence. 4.   Consumers have high interest in digital banks, but traditional branches still play a pivotal role in engendering trust and solving more complex issues that required human interaction. 5.   Traditional bankers are facing competition from e-wallet providers. These new entrants are poised to take a share of high volume, medium-low value sales. Numbers highlight from this whitepaper ·     46% Malaysian visited bank branch in past 6 months ·     55% Malaysian who visited bank branch enjoyed their experience ·     81% of respondents expected bank branch to solve any banking issues that they have ·     66% of respondents interested in a purely digital bank ·     97% of respondents owned at least 1 e-wallet. Of which, 47% purchased financial products & services from e-wallet/super apps. It is clear and imperative for bankers to tenaciously assess branch format, purpose and business models. Question is: “How?” Next week (20 July 2024, before 11am GMT +8), in Part 4 (final part of Bank Branch+ series), we will share thoughts on: ·     Considerations in optimizing in-branch experience ·     Strategic direction of in-branch optimization ·     Possible formats for banks of the future Alternatively, you can download full report at: Website: https://lnkd.in/gUuAcHi4 Or follow Rakuten Insights to read this report at: Linkedin: https://lnkd.in/gsyjD4fi X: https://lnkd.in/gjm8Vz9v Facebook:https://lnkd.in/gMbReHtr Comment  below. Share with us know your thoughts. Speak to us to know more opportunities in optimising bank branch experience for your customers.

The Customer Owned Banking Impact Report 2024 reveals that customer-owned banks are giving back nearly nine times more to their communities than the major banks. With competitive rates, high satisfaction, and a commitment to community, we're proud to be part of this movement for good. Discover more about how customer-owned banks make a difference: https://lnkd.in/gCrGsDfw Customer Owned Banking Association

Interesting read on iMali Quiz and MoyaApp's banking insights in South Africa.

Am pleased to share this article from International Banker on consumer trust in banking. Because competition within the global financial services industry has intensified, selecting the right banking partner has become more difficult for consumers. Due to this, it is crucial for banks to think long-term and highlight its risk management capabilities. Thank you Alexander Jones for including me in your piece. Would love to keep the conversation going if you have any thoughts or feedback. https://lnkd.in/gehQvyXj #MetricStream #Trust #CustomerExperience #Banking