Part 3: Reducing Surge Event Stress With Automation

This is Part Three of our Series: Modernizing the Back-Office: Enhancing the Employee Experience (EX) and Customer Experience (CX) with Workflow Automation

Surges of back-office work have become an unwelcome but common occurrence among banks and credit unions. Payment dispute compliance processing is a typical example of a back-office work surge. Increasing dispute volume, fueled by the emergence of new digital payment methods has become a common surge event. 

Labor intensive work surges are an incredible burden on staff immediately following an acquisition or merger of another financial institution. Employees from other areas are pulled to handle the labor-intensive (manual) steps involved in researching databases, forms completion, data entry and related manual tasks to process disputed payments. The shifting of workers around and the pressure of a labor-intensive surge leads to employee burnout and a loss of quality customer service experiences. 

Workflow automation is a perfect engine to stop the snowballing effect these surges place on FI operations workers. All dispute management tasks can be processed using a single platform and provide GL integration, same day customer crediting, and a centralized document repository for simple auditing and management reporting. 

As workers are freed from manual processes, stress levels over insurmountable workloads will decrease. Another outcome is that job redesign is likely to follow. The redesigned job positions workers on more revenue-generating activities with clients. When FIs embrace automation, employees are freed to work on more client-engaging activities to provide a better customer experience. 

Stop Snowballing Work Surges With Automation

Back-office work surges have become an unwelcome, but common occurrence among banks and credit unions. Workflow automation is a perfect engine to stop the snowballing effect these surges place on FI operations workers. 

Quite simply, automation of the financial institution workplace creates less stressful and more satisfying work experiences. 

Learn how Legence Bank dealt with the “snowball effect” of dispute work surges resulting from the bank’s doubling of customer accounts through acquisitions. View the Legence Bank case study.

In the recruiting arena, FIs that adopt back-office automation services will become more attractive to workers who are accustomed to highly digitized and automated work environments. To underscore this, 25% of the labor force will be Gen Z workers (currently 25 years or younger). These are workers accustomed to a highly digitized world and will gravitate to jobs that embrace digital and automated processes. 

Quite simply, automation of the financial institution workplace creates less stressful and more satisfying work experiences. Everyone understands that happy, fulfilled employees stay longer and produce better outcomes for their employers.

How equipped is your organization in handling work surges with a labor force that is increasingly looking for better, less stressful employee work environments?