Revolutionizing Banking Operations: The Power of Automation (Part 1 of 4)

Video Transcript

One of the things that we've noticed, too, is that it plays a significant role in running and managing automation. Could you share with us some other examples of how your team involvement has been able to drive significant business impact for the banks? So, I'm thinking of your ability to manage transactions and get them posted before the market opens each day. Maybe you could elaborate a little bit on that.

Yes. So, we look at it a couple different ways, right? So, automation plays a part in it, right? And using the automation tools we have in place, but we go back to the rudimentary. It's moving data from one system to another, making sure jobs process, and being able to look inside those processes. We usually call it "eyes on glass," right? So, we have operations teams that I have in my command centers where we have eyes on glass. People are watching jobs day in and day out. They see a little red blip, and they try to act on it. At that point, that's mostly reactionary. We try to go into the proactive measure, and we've done it in a couple different instances.

One which is significant, and talking about large sums of money, is our ability: we borrow money and we lend money on a daily basis in our business. One of our larger businesses, based on the time of day that they borrowed money, would determine what they pay for that money. It's basically borrowing from the Fed or borrowing from another institution. If you start borrowing at five o'clock in the morning, they may charge you a quarter point for your money. If you borrow at seven o'clock in the morning, you're paying two points for your money. There's a premium for that money. So, looking at how jobs are running through the process, we've worked with these lines of business. These are actually, when I say business people, these are all the way on the right side. I consider myself on the left side where the process starts, and the business is on the right side where the transactions are taking place when we're dealing with the Fed Reserve, we're dealing with different institutions. And so we try to fix it upfront so that the transactions flow, and they're pretty transparent at that point.

So what we've done is, using AAI, AutoSys, and other internal tools like trending tools, analytics tools, and things along those lines, we're really taking a look at the upstream processes via automation and building different programs around it. One program we built, the first one that I mentioned, is that we were actually looking at how these jobs are performing and looking at the upstreams. But more than that, using AAI to track these SLAs, and then as the SLAs breach or as we look at trending, we've actually built incident reduction programs with this to take a look and say, "Okay, why are these things breaking? How do we go out to an app dev team, and how do we help that business get their processing quicker?"

Implementing an incident reduction program is one of the things we're pretty proud of here. We've actually reduced incidents by 60% in a lot of our automation and workflow work area. Whereas, we're looking at jobs, and we get 5, 6, 800 failures per month on a particular job or a particular set of jobs within a line of business, and taking the critical ones out of that to see which is really the most critical and has the business impact. So what we've done within our SLA process, we've gone a step further. Being a techie, I look, "Okay, are my systems up and running? Did the job process? Did they finish?" Yeah, that's great. But at the end of the day, what's the true business impact for that job not finishing? And we've translated a lot of this stuff where "job ABC," whatever you want to call it, an order job means absolutely nothing to a business user. The file means absolutely nothing to a business user.

When that file goes down, when we generate an alert out of AAI, we actually have integrations with ServiceNow with that. It generates that alert, and it actually tells you what the true business impact is: "Business cannot start for the day," "transactions are not processing," "ledgers are not updated," all these things where a business person is really looking at. That's where we've transformed a lot of this, going from technology to business-related items.

Bruce is referring to our analytics, our Automation Analytics and Intelligence product, AAI, and of course, AutoSys, which is our workload automation tool.

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