Automation critical for productivity enhancement

Published on September 13, 2023 by Pankaj Bukalsaria and Oliva Rath

Client demands are ever-evolving and amid these challenging market conditions that have been compressing margins, investment banks and advisory firms continue to make progress in building new service ecosystems for their customers. Our survey also revealed that most firms have been implementing or are planning to implement new productivity-enhancement tools/automation tools in 2023.

We understand these efforts are critical for managing productivity and discovering innovative ways to capitalise on business opportunities

• Investment banks may consider bolstering the customer experience by enabling front-toback modernisation

• Automation could increase efficiency, eliminate redundancy and prevent legacy issues

• Self-service models could be developed to execute transactions directly and quickly, connect flow models and reduce the time taken to close deals

• To gain an edge amid the intensifying competition and augment digital product and service offerings, acquisitions of and partnerships with fintechs could be explored

• Big data and AI technology could be effective in easing the onerous regulatory burdens by maintaining transparency in line with evolving ESG targets and regulatory norms, and managing and analysing large volumes of unstructured client data

• Investment banks could also explore outsourcing some of their digital operations to other players in the ecosystem

Market challenges and uncertainties have often inspired innovation and encouraged companies to take bold actions. Download the full survey report now

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