The Advantages of Agentic Process Automation in Financial Services - with Ken Mertzel
Feb 20, 2025
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Ken Mertzel, Global Industry Leader at Automation Anywhere, shares his extensive experience in financial services. He highlights the limitations of traditional RPA and discusses the rise of agentic process automation, which enhances decision-making and operational efficiency. Mertzel explains how AI is revolutionizing financial processes such as AML investigations, fraud detection, and underwriting. He emphasizes the importance of interactive systems that leverage advanced data for improved insights, ultimately transforming the way financial organizations operate.
Agentic process automation, enhanced by AI, is revolutionizing financial services by improving decision-making and streamlining crucial operations like fraud detection.
The shift in automation strategy emphasizes not only efficiency but also business growth and customer experience enhancement through AI-driven insights.
Deep dives
Expansion of Automation Capabilities
Financial services are moving beyond traditional robotic process automation (RPA) as organizations realize that conventional methods have only automated 20 to 30% of tasks. The emergence of AI and specifically agentic automation offers the opportunity to integrate AI with automation, enhancing decision-making and allowing for real-time interactions. This evolution signifies a shift where there is not just a focus on workflow automation, but on leveraging AI to extract valuable insights from complex processes. By doing so, businesses can address operational challenges more effectively while attaining strategic objectives.
Strengthening Compliance and Risk Management
Compliance and risk management have become central to automation strategies within financial institutions, particularly with advancements in AI technology. AI helps streamline processes such as anti-money laundering (AML) investigations and fraud detection by synthesizing large amounts of data into actionable insights. For example, generative AI now enables organizations to summarize critical information, allowing investigators to make more informed decisions by highlighting top risks. This not only improves operational efficiency but also strengthens regulatory compliance, which is essential for heavily regulated industries.
Focus on Business Growth Over Cost-Cutting
The focus of automation in financial services is shifting from merely enhancing efficiency and reducing costs to fostering business growth and improving customer experiences. Organizations are increasingly utilizing AI-driven automation to enhance decision-making processes and streamline operations for a competitive edge. This transition emphasizes the value of automation as a tool not just for operational efficiency, but for driving revenue growth and delivering better services to customers. The integration of AI within these processes allows firms to adapt to changing market demands while capitalizing on new opportunities.
Today’s guest is Ken Mertzel, Global Industry Leader in Financial Services at Automation Anywhere. Automation Anywhere is a global software company that develops various automation software for major industries. Before joining Automation Anywhere six years ago, Ken spent his career in the financial sector, including 15 years at Bank of America. There, he served as CFO of the insurance division and held various leadership roles in finance, risk management, and consumer operations, ultimately leading financial operations for the bank. Before that, he was part of Accenture’s Financial Services Strategy practice, advising clients on industry-leading financial strategies. Ken joins us on this week’s program to explore the evolution of automation in heavily regulated industries. He explains why traditional RPA has only been able to automate a fraction of tasks and how AI is unlocking new opportunities. Ken also breaks down how agentic automation is transforming key financial processes, from AML investigations to fraud detection and underwriting. By combining AI with automation, organizations can extract valuable insights, streamline decision-making, and create more interactive, human-in-the-loop systems. This episode is sponsored by Automation Anywhere. Learn how brands work with Emerj and other Emerj Media options at emerj.com/ad1.
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