To deliver a nearly human-free back-office, a platform must constantly evolve from real life. Our vision of a world-class level of automation came to fruition through years of working with top financial institutions and running back-office operations. The Avaloq platform gives BPaaS clients STP rates approaching 100% and reversal rates that are close to zero. A state-of-the-art control room monitors processes continuously across operations, reducing risk and ensuring safe, reliable back-office operations for all clients.
Our commitment to future innovations through our investment in robotics, AI, and machine learning technologies also benefits our BPaaS clients. Avaloq invests in the use of RPA and other automated BPaaS services to pursue newer applications of AI and machine learning, for example, using AI/natural language processing to transform unstructured data into structured data that can be processed through an Avaloq API module. A recent collaboration with a Swiss university is focusing on securities transfers that convert unstructured data from position transfers requests from market counterparties received as email, PDF, and Excel files into structured data.
Centralization is just one aspect of the changing back-office operations model. For the future, we see the back-office, once populated by teams of task specialists, region by region, as a place for process specialists, bridging the roles of process owner and task specialist. BPaaS clients will benefit from trained and certified staff focused on client interactions for problem-solving, how to identify new opportunities for efficient client onboarding, and using advanced technologies like machine learning and AI.
If you would like to know more about how an BPaaS model can help ease back-end burden, visit our dedicated BPaaS web page. Or get in touch and let our cloud experts provide you with the insights you need to accelerate automation through BPaaS.