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

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

Producción científica: Capítulo del libroCapítulorevisión exhaustiva

8 Citas (Scopus)

Resumen

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 originalInglés
Título de la publicación alojadaSpringer Series in Supply Chain Management
EditorialSpringer Nature
Páginas175-188
Número de páginas14
DOI
EstadoPublicada - 2022
Publicado de forma externa

Serie de la publicación

NombreSpringer Series in Supply Chain Management
Volumen11
ISSN (versión impresa)2365-6395
ISSN (versión digital)2365-6409

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