BPMS for Financial Services
The Essential Tool on your Digital Transformation Journey
Digital Transformation is already a must for financial services. There's a very competitive market, and every firm has to react and adapt quickly to the fast-changing market terms. Emakin BPMS is the essential platform to automate and optimize the business processes for banks, insurance, accountancy, trust and asset management firms.
Financial institutions have to structure their business processes and ensure that all the workflow is aligned with the structure to comply with the regulations.
Since there are many stakeholders almost at every stage, processes take longer to complete. Therefore, easing the communication between the stakeholders (whether they are internal users, systems, or customers) is the key to shortening the process times.
Remaining compliant with the changes in the legal or regulatory frameworks is another essential topic for financial services. Process owners must have the ability to control and keep the system up-to-date effortlessly and consistently. Moreover, they should quickly provide a comprehensive report for every transaction within the system.
Financial systems are complex structures that, at some point, may touch legacy systems or integrate with third-party applications. And nowadays, the current Fintech ecosystem makes this integration more critical.
Customers rely on digital banking experiences to make critical financial decisions more than ever, and banks of financial institutions must provide these services for their customers, which means turning their vision to Open Banking. Combining, managing and melting all these strategies together is what the Emakin Low-Code BPM platform does best.
"Emakin Is A Great Challenge Against Paper Processes"
"Emakin helped us digitilize paper work and automate delivering steps.
Especially during pandemic, it was the key to allow us work from home."
PROCESSES
KYC
- Client Due Diligence in line with the requirements of the respective legislation through a clear and intuitive user interface
- Preparation, inspection and approval tasks with the "four eyes" principle
- Simplified, standard or enhanced client research
- Easy and understandable review feature with integral review and automatic upload of previously stored information resulting in short review times
Lending
- The streamlined processes for loan applications, identity verifications, or onboarding between the customer and the bank
- A paperless environment to accelerate and improve the communication
- Automation in every step to eliminate or reduce the ineffective steps
Transaction Monitoring
- Swift and efficient recording of approval for cash and non-cash transactions
- Monitoring compliance with guidelines of supervisory bodies
- Easy monitoring and audit of Transaction Monitoring through exporting files with transactions by compliance officers, auditors or managing board members
Bank Operations
- Combine middle and back-office processes to simplify the operations
- Include customers to participate seamlessly in the internal processes with a paperless environment
- Automate mass banking processes and eliminate the need for manual data entry and re-entry
Some of the many other Financial Processes that automated with
Emakin BPMS:
Governance, Risk and Compliance
General Data Protection Regulation
Anti-Money Laundering
Customer Due Diligence
Client Acceptance
Physical Archive and Document Management
Electronic Invoice Management
Compensation Claims
Loan Application
Operational Processes
Travel & Expense
