Exclusive research

Taking automation one point at a time

Register now
Complimentary Access Pill
Enjoy complimentary access to top ideas and insights — selected by our editors.

Banks and insurers are increasingly aware of the competitive edge they can gain by utilizing automation. In a recent study by Arizent, parent company of American Banker and Digital Insurance, we found that three-quarters of respondents from the banking and insurance sectors plan to implement new automation technologies in the next year.

Get the report
Now viewing
editorial-2023-fully-automated-enterprise-ab-and-di-final-5-12-23.pdf
Download

While conversation about how to balance the speed and normalization of automation is ongoing, our survey shows that banks and insurers increasingly see automation as an opportunity.

Key Findings

  • In both banking and insurance, fraud detection/prevention is seen as the biggest opportunity for automation.
  • Across possible use cases, single-point solutions that automate only a part of a business process continue to dominate.
  • Participants from both industries not only anticipate a decrease in their workforce due to automation, they also anticipate changes to the composition of their workforce.
  • Despite potential benefits, there are risks and barriers to implementation, including costs and data security/privacy.
Technology Automation Fraud detection Editorial Research