Robotic process automation in the modern financial business industry – iTizzi, Eastern Europe


Some analysts predict that about 50% of the world’s financial activity will be robotized in the coming years. Everyone agrees that automation is changing the face of the financial industry. And this applies not only to enterprises: ordinary people use the automation of processes in banks, without even knowing about it, for example, making certain transfers. Many companies adapt to market changes by automating their processes, but some still refuse to change for fear of the costs involved.

Automation of the process of processing applications using robotization

Robots are ideal for handling customer inquiries, that is, complaints and applications for loans, loans and cards. The program collects all the necessary information and performs all the necessary analysis. In the case of automation of credit scoring, the robot, based on the collected data, compiles a risk index, on the basis of which the bank employee issues a decision on approving or rejecting the application. Banks very often use robots to handle complaints. This solution significantly reduces the client’s waiting time, since the program is able to make a decision within a few hours from the moment the complaint was filed, and not, as it was before, several days. Insurance companies also use robots to analyze claims and assess claims on insurance policies. It happens that they are used in determining the price of the insurance premium. For example, the program checks a customer, and if it detects that he is smoking – for example, based on photos posted by him on the Internet – the price of his insurance premium is increased.

Business automation in the field of transaction processing, Kiev

Robots take on all tasks related to payments: make transfers, track sales transactions, and generate reports. The most common manifestation of payment automation is the previously mentioned transfers. One of the groups that benefits the most from robotizing these processes are companies that provide loans to people. Automation of loans and borrowings significantly speeds up booking and withdrawal of funds.

Business automation with chatbot development

A common solution used by companies in the robotization process is chatbots, which are computer programs that talk to people using natural language or text-based interfaces. Companies usually use them on their customer service websites, where they replace traditional consultants to automatically answer customer questions about the services the company offers. The iTizzi company, Lviv, develops chat bots for business, the work and training process of which is also subject to automation through the aggregation of information from several databases and systems.

Business automation with personalization, Odessa

Personalization is an extremely important aspect of changes in the financial industry. This is most noticeable in the automation of customer service and sales. The robot collects all information about the client and on this basis – instead of offering unnecessary services – can offer a specific, ideally suited solution. The program can also create personalized marketing materials based on templates from which the client can choose what suits him best.

Order management – Automation and decentralization of business in Ukraine

Automating order management is a relief for the company. The robot downloads the order and enters it into the system, then sends it to the warehouse, then issues an invoice and sends it to the customer. This decision definitely speeds up the whole process.

The profitability of automation in the financial arena should be undeniable. What is described in the article is based on the experience of the IT company iTizzi in Vinnytsia, Dnipro, related to RPA and BPA, as well as on the statements of representatives of companies that have already implemented robotization or automation of business processes.