Digital Lean Operations: Smart Automation and Artificial Intelligence in Financial Services

Robert N. Boute, Joren Gijsbrechts, Jan A. Van Mieghem

Producció científica: Capítol de llibreCapítolAvaluat per experts

7 Cites (Scopus)

Resum

The financial services industry covers banks, insurance companies and investment managers, as well as transaction or message processing companies. To streamline billions of daily transactions, lean principles and operational excellence programs have found their way to financial service firms. Today, the resulting cost and risk reductions are further enhanced by embracing new digital technologies–such as those falling under the umbrella of Industry 4.0. These digital technologies stimulate a new wave of operational efficiency improvements by making processes more automated, autonomous, and smart. We provide a framework to evaluate the transition towards digital, autonomous and smart operations in financial services. We report our findings from the digital operations journey of Euroclear, a service provider of settlements for securities transactions, on their quest for increased automation and autonomy. We also shed light on the potential of artificial intelligence in financial services. Data-driven solutions may support financial service firms from purely descriptive models and methods with strong predictive power, towards prescriptive decision-making algorithms.

Idioma originalAnglès
Títol de la publicacióSpringer Series in Supply Chain Management
EditorSpringer Nature
Pàgines175-188
Nombre de pàgines14
DOIs
Estat de la publicacióPublicada - 2022
Publicat externament

Sèrie de publicacions

NomSpringer Series in Supply Chain Management
Volum11
ISSN (imprès)2365-6395
ISSN (electrònic)2365-6409

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