Nuance: Automated Tools Will Make Financial Services More Efficient

Nuance Communications has shared the results of its second annual survey of financial services professionals, finding that employees in the financial sector are increasingly searching for automated tools that will help them do their jobs more efficiently. The survey incorporated feedback from more than 63,000 people, and highlighted workplace documentation and customer service as potential areas of improvement.

“It’s becoming more important for organizations to embrace tools to help automate tasks like heavy-volume documentation,” said Mark Geremia, the VP and GM for Nuance’s Dragon division. “Advanced solutions can result in more accurate and detailed reporting, improved compliance, empowered workforces, and a more satisfied client base.”

According to Nuance, AI-powered digital automation tools would streamline record-keeping and make it easier to comply with existing regulations. That, in turn, would free up more time for client-facing operations. Nearly half of the survey respondents (40 percent) reported that compliance requirements have increased their administrative workload, with 58 percent believing that better tools would lessen some of that burden.

Meanwhile, 57 percent believed that better tools would help them stay competitive, and an overwhelming majority (88 percent) indicated that customer-oriented work would take precedence if financial software became less technically demanding.

Nuance is pitching its own Dragon tech one of the solutions that would yield such efficiency benefits. The company’s voice authentication tech has recently been deployed by Kennebunk Savings Bank and Spain’s Santander Bank, while the Dragon Medical platform has been a major boon for record-keeping in medical organizations.  

–

May 21, 2019 – by Eric Weiss