Beyond labor arbitrage: Transforming business process services through cognitive automation and structured workflow Governance
By Atul Bindal, Business Head, Writer Information
A loan application can remain pending for days not because a credit officer is unable to make a decision, but because the information required to make that decision exists across multiple formats and systems.
A scanned income statement, a handwritten address proof and a digital banking record may all belong to the same applicant, yet require manual intervention before they can be reconciled. At the scale at which banks, insurers and financial institutions operate today, this friction becomes a significant operational challenge.
For years, the Business Process Services (BPS) industry has been viewed primarily through the lens of cost optimisation. The conversation centred around workforce scale, efficiency gains and turnaround times. This approach was built around an era when business processes involved large volumes of repetitive manual activities such as document verification, data entry and workflow routing.
That model served its purpose. However,...
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