Historic stimulus loans will overwhelm banks and credit unions that fail to automate the intake, approval, and administrative processes for SBA and Paycheck Protection Program loans The federal government just enacted the largest stimulus package in the history of the United States: the CARES Act. It includes a wide range of grants, tax breaks, direct …
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How process standardization and robots accelerated commercial-lending operations, saving labor while enhancing banking customer experience—a case study. Banks of all stripes and sizes have long labored to optimize back-office operations. At the same time, they strive to improve banking customer experience. Nowhere do these two challenges overlap so strikingly and advantageously as when it comes …
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Just because “experts” say it, doesn’t mean it’s true. If you watch the news—or read some stuffy white paper—you’d think that today’s knowledge workers are terrified of robotic process automation, or RPA. You’d think they’re fearing for their jobs. Their dignity. Their lives. Nothing could be further from the truth. How do we know? We’ve …
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If you work in banking, you’re familiar with the Federal Reserve’s Regulation D: It sets requirements for banks’ cash reserves. Part of that requirement governs how many withdrawals a bank’s customers can make from their savings accounts in any given month. It’s a regulation that many bank customers are unaware of, and so they often …
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