How Business Activity Tracking Can Transform the Way Your Bank Does Business
Posted: Sun Dec 22, 2024 6:12 am
Bank executives can no longer afford to wait for a quarterly, monthly or even weekly report to inform them of what is happening in their business. A missed anomaly can lead to costly legal and regulatory issues, bad media coverage or a breakdown in customer relationships.
While most businesses are armed with a deluge of data, few have the ability to turn it into insightful, real-time actions. To combat this problem, banking leaders are turning to new visibility tools like business activity management (BAM) solutions. Business activity monitoring can automatically uk phone number list identify and flag time-sensitive opportunities and anomalies, such as large cash withdrawals, loan requests over a certain amount, or loan requests from companies with a certain number of employees. Instead of waiting for a report after the fact, you can set up real-time alerts triggered by significant events. With the right business activity monitoring conditions, you can gain a new window into the state of your business in real time and transform the way your banking team manages data.
1. Quickly identify anomalies in real time
The goal of a business activity tracking solution is to simplify, not complicate, how you operate as a financial institution, so it’s important to choose one that doesn’t add extra steps to your processes. A plug-and-play platform like ProcessMaker can deliver alerts directly to your inbox, without the need to log into a complex system or pull an unnecessarily cumbersome report. Custom, real-time alerts give your team the ability to quickly spot anomalies and take immediate action.
While most businesses are armed with a deluge of data, few have the ability to turn it into insightful, real-time actions. To combat this problem, banking leaders are turning to new visibility tools like business activity management (BAM) solutions. Business activity monitoring can automatically uk phone number list identify and flag time-sensitive opportunities and anomalies, such as large cash withdrawals, loan requests over a certain amount, or loan requests from companies with a certain number of employees. Instead of waiting for a report after the fact, you can set up real-time alerts triggered by significant events. With the right business activity monitoring conditions, you can gain a new window into the state of your business in real time and transform the way your banking team manages data.
1. Quickly identify anomalies in real time
The goal of a business activity tracking solution is to simplify, not complicate, how you operate as a financial institution, so it’s important to choose one that doesn’t add extra steps to your processes. A plug-and-play platform like ProcessMaker can deliver alerts directly to your inbox, without the need to log into a complex system or pull an unnecessarily cumbersome report. Custom, real-time alerts give your team the ability to quickly spot anomalies and take immediate action.