Over the years, we’ve worked with many companies across the financial services industry — from cutting-edge FinTechs and next-gen payment providers to traditional banks, lenders, insurers, mortgage brokers, and more.
While each business faces unique challenges, our financial services customers have one shared struggle.
Without exception, our partners make heavy use of software to manage their business. Yet, for all the investment in digital solutions, their workflows remain far from optimal.
We see financial services companies across the board complaining of the same three bottlenecks, time and again. They waste time, money, and human capital — and ultimately damage efficiency, customer service, and revenue generation.
Yes, you read that right. The financial services industry of the twenty-first century relies on mountains of paper documents at every turn. Mortgage and bank account applications, identity verification, quote analysis, customer onboarding, insurance claims, pension forms — the list goes on.
The problems with this are obvious.
On the one hand, putting things on paper and transferring the information into internal software systems takes a lot of time and effort. You’re essentially recording the same data twice, sometimes more.
On the other hand, if you have non-backed-up paper documents lying around, it’s only a matter of time before you lose critical customer and business information.
Manual tasks are efficiency’s worst enemy.
And yet, they are rampant in the financial services industry. User-defined Access, Excel, SQL-based, and similar tools eat up exorbitant amounts of business hours and human capital.
But that’s not your biggest problem.
What’s worse is that manual data entry, extraction, and processing are uniquely error-prone. When working with sensitive information, a single mistake can have disastrous legal and financial consequences.
Financial services companies tend to run on legacy systems for far, far too long.
To an extent, this is understandable.
It can take employees a while to fully master a new system, and upgrades take time, cost money, and often disrupt critical operations.
If you don’t have in-house expertise, you may also need to hire dedicated developers and IT experts to stay on top of new technology, further ramping up expenses.
These are all legitimate concerns.
However, the issue is that old software doesn’t support the features today’s customers want. If you don’t update regularly, you risk falling behind your competitors.
Financial services companies today need solutions that:
Unitek’s no-code Automation Experience Platform does just that.
Thanks to its revolutionary technology, Unitek effectively eliminates bottlenecks like paper-heavy workflows, manual tasks, and technical debt, freeing you to redirect resources to more impactful activities.
You can employ our no-code automations across multiple business processes, including:
Unitek’s platform comes with a built-in drag-and-drop automation builder, which enables you to instantly automate any process, at any time, without touching a line of code. All you need to do is drag and drop your desired automations and integrations.
This makes our automation solutions accessible to all teams, regardless of size, budget, or prior coding experience.
With Unitek’s Automation Experience Platform, you can:
You also don’t have to worry about spending a long time developing an automation strategy, hiring expensive developers, and pausing operations while automations are being implemented.
Grab our eBook below, Making the Case for No-Code Automation in Financial Services, to learn more about: