New Survey Highlights Demand for Automation in Financial Services to Improve Customer-Facing and Back-Office Tasks
May 15 2019 - 8:00AM
Nuance Communications, Inc. (NASDAQ: NUAN) today released the
results of a national survey of financial services professionals
that finds advisors seek AI-based tools to help perform their jobs
more effectively and positively impact client service.
The results from the 2nd Annual Role of Technology in Financial
Services Documentation Compliance Survey show that the demand for
digital automation within the industry continues to be strong, as
the need to stay competitive and compliant is growing. The survey –
deployed to more than 63,000 financial services professionals
across the country – highlights how advisors are embracing new
tools to support back-office tasks, like documentation
productivity, and front-of-the-house activities, such as customer
engagement.
“As digital transformation continues to shape the future of
industries like financial services, it’s becoming even more
important for organizations to embrace tools to help automate
tasks, like the heavy-volume of documentation, all with the goal of
improving client care,” said Mark Geremia, vice president and
general manager, Dragon, Nuance Communications. “Advanced
solutions, like Dragon speech recognition, can augment the work of
these professionals, resulting in more accurate and detailed
reporting, improved compliance, empowered workforces, and a more
satisfied client base.”
Survey data found that the adoption of digital automation tools
could enable financial services professionals to meet their
documentation, compliance and client service goals. By alleviating
burdensome administrative duties, advisors can refine other skills
that will ultimately improve their work and client relationships.
Key findings in the survey include:
- The vast majority of respondents – 88 percent – say mastering
“soft-skills” like communication and time-management will become
more important to productivity than technical knowledge of
financial products
- 57% say they need to adopt innovative new tools to stay
competitive, compliant and meet the changing needs of clients
- 39% percent of those surveyed say that the use of automated
tools could improve both customer-facing and back-office tasks
within their firms
- Nearly half of respondents remain neutral or not satisfied with
their firms use of automation technology
- 58% believe digital automation has the potential to free them
from mundane tasks and improve client service
- Close to 40% say their documentation workloads have increased
due to compliance demands over the past year
The 2nd Annual Role of Technology in Financial Documentation
Compliance Survey is available to download here.
To learn more about Nuance Dragon Professional, please visit us
here.
About Nuance Communications, Inc.Nuance
Communications, Inc. (NASDAQ: NUAN) is the pioneer and leader in
conversational AI innovations that bring intelligence to everyday
work and life. The company delivers solutions that can
understand, analyze and respond to human language to increase
productivity and amplify human intelligence. With
decades of domain and artificial intelligence expertise, Nuance
works with thousands of organizations – in global industries that
include healthcare, telecommunications, automotive, financial
services, and retail – to create stronger relationships and better
experiences for their customers and workforce. For more
information, please visit www.nuance.com.
Trademark reference: Nuance and the Nuance logo are registered
trademarks or trademarks of Nuance Communications, Inc. or its
affiliates in the United States and/or other countries. All other
trademarks referenced herein are the property of their respective
owners.
Contact Information
For PressDayna McCoubrey Nuance Communications,
Inc. Tel: 781-565-4728 Email: dayna.mccoubrey@nuance.com
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