FinTech, RegTech and Cybersecurity vendor CSI team up with Huloop, a provider of AI-powered no-code automation platforms to help banks improve efficiency. The partnership is designed to present CSI’s Nupoint core banking system to financial institutions, allowing companies to manage their accounts, transactions and other banking operations.
Nupoint customers have access to Huloop’s Work Intelligence Platform, designed for community and local banks. This solution is intended to help address regulatory overhead and running costs.
Sector challenges include customer onboarding and document-based workloads that are error prone to creating approval bottlenecks. Employee fatigue from repetitive, less valuable tasks in an environment with strict compliance essentials can strain staff.
Huloop’s approach combines AI with humans, where intelligent software agents oversee repetitive, mundane tasks. Todd P. Michaud of Huloop said: “With the Loop design, automation ensures that people’s work will be enhanced instead of replacing it. Community Banks and credit unions are under pressure to grow without adding staff at the same rate.
Huloop’s no-code platform allows banks to streamline banking operations, discover productivity, automate processes, workflow orchestration, document processing, and automated testing of lending and collection workflows.
“It helps to automate back-office tasks and improve operational efficiency,” said Jeremy Hoard, EVP & Chief Bank Officer at Legends Bank.
According to Jason Young, Vice President of Product Management at CSI, the ultimate goal is to help banks make the most of their core banking system. “We extend our proven AI-based automation capabilities, simplify operations and help institutions deliver superior services.”
(Image source: “Parkes, former regional bank of NSW” by Mattinbgn is licensed under CC BY-SA 2.0.)
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