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Top 4 automated workflows for banking lead generation

Banking has undergone a paradigm shift in recent decades. Overall, financial institutions had to change over time without being bound by traditional banking practices.

The vast technological innovations of the last decade are one of the reasons for the required shift. Technology has crept in, with services like CBS, NEFT, and RTGS becoming the norm. The new generation of customers is even more demanding, and the best way to meet their expectations is to incorporate technology into every aspect of banking.

Do you spend hours a day on lead-generation activities like faxing, emailing, and calling? If you’re like most bankers, the answer is yes. But what if there were ways to automate some of those tasks so you could focus on more important things? 

In this blog post, we’ll explore four automated workflows for banking lead generation. Keep reading to learn more!

Top 4 automated workflows for banking lead generation


1. KYC Process

KYC is now required to close dormant accounts and verify the authenticity of existing customers and transactions. It takes 50 to 1500 FTEs (Full Time Equivalents) to conduct thorough KYC customer checks.

This can be time-consuming and exhausting. Because of the magnitude of this task, a system that could eliminate human intervention in KYC Compliance was required. KYC is a much simpler, error-free process that requires little staffing thanks to automation.

2. Customer Service

Customers today are demanding, and banks must handle a variety of tasks, including loan inquiries, account opening inquiries, bank fraud, and a variety of other things, without delay. This puts pressure on customer service teams to provide quick and effective resolution mechanisms.

Automation allows the service team to focus on better resolving high-priority questions, ultimately saving time and money and resulting in more satisfied customers.

3. Accounts Payable

Keeping records and digitizing seller invoices is an important part of banking. This was traditionally facilitated by OCR (optical character recognition) and the collection, verification, and processing of all information related to invoicing areas.

With the introduction of automation, banks made significant strides in simplifying the process of error verification. Thanks to RPA, sellers now receive credit automatically on their end.

4. Mortgage Processing


Even in a developed economy like the United States, the processing of a mortgage loan can take up to 40 days due to the various levels of scrutiny that the process must go through. Credit checks, pre-approval checks, and employment verification are all required for a mortgage loan to be closed.

Unwanted errors can frequently creep in and further delay the process. In this critical area, automation has been a blessing in disguise. Banks can now process mortgage loans faster and with less delay thanks to algorithm-based systems.


There you have it- our top 4 automated workflows for banking lead generation. By incorporating these into your strategy, you can take a lot of the heavy lifting out of generating leads and increase your overall efficiency. And who doesn’t want that? 

If you’re interested in learning more about how to optimize your workflow, we offer consulting services to help get you started. Contact SmartOSC Fintech today to learn more!

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