Process Mining for Banks

Service providers today face major challenges. Driven by technological innovation and increasing market saturation, customers are placing ever-higher demands on services. Financial service providers in particular must offer customers impeccable service in order to remain competitive. Customers in the banking sector, for example, expect fast access to account information, the ability to carry out transactions in real time and personalised financial advice.

Banks are under enormous pressure: on the one hand, they want to reduce costs, but on the other hand, the customer experience must be continuously improved. We at process.science are addressing these challenges – our Process Mining solutions enable banks to analyse processes, uncover optimisation potential and derive improvement measures. With our user-friendly tools, you can fully exploit the potential of your data.

Bank processes extend across various departments and systems and are therefore characterised by a high level of complexity. This complexity makes it difficult to create transparency and identify optimisation potential. This is exactly where process.science's Process Mining solutions for banks come in. One of the main advantages of Process Mining for banks is the ability to visualise and understand processes. Our tools for Power BI and Qlik Sense combine data from different sources, creating transparency. This transparency is the basis for targeted optimisation measures.

With the help of Process Mining, you can uncover manual, time-consuming activities in banks and identify opportunities for automation. Especially in banks with high transaction volumes, automating routine tasks can greatly increase efficiency and reduce the workload on employees. Our intuitive dashboards show at a glance where processes can be standardised and automated.

Process Mining also provides valuable insights for compliance and risk management in banking. By comparing the actual process with regulatory requirements, deviations and potential compliance violations can be identified and eliminated at an early stage. Compliance monitoring for banks minimises operational risks, while transaction monitoring in banking uncovers questionable transactions.

One of the main reasons for using Process Mining in banks is to increase customer satisfaction. Optimising customer-related processes such as granting loans, opening accounts or managing complaints can reduce processing times and improve service quality. Process Mining from process.science reveals bottlenecks and sources of error, enabling you as a financial services provider to     respond to customer requests faster and more reliably.