April 27 , 2022
What is Hyperautomation?
Hyperautomation is a concept of automating everything that can be automated within an organization. Companies that adopt hyperautomation aim to streamline processes across their business using artificial intelligence (AI), robotic process automation (RPA), and other technologies to run without human intervention.
Hyperautomation as a global process may ease and optimize:
  • Routine reporting
  • Visualization of big data
  • Manual processing
  • Reconciliation across different tools
  • Limited data available off the shelves

Hyperautomation benefits:
The hype around hyperautomation is real: in 2020 it was #1 trend. In today’s fast-paced, highly distributed, competitive environment it can help your business get way ahead. Any organization can adopt and benefit from hyperautomation technology, whether your processes are already automated or not, or your equipment is new or old.
Here are the main benefits of hyperautomation:
  • releasing products of higher quality by increasing AI tools and reducing human errors.
  • optimizing workflow allocation by ensuring repetitive tasks are completed consistently and efficiently.
  • reducing the technical expertise needed to configure and manage automation tools and automation solutions.
  • increasing productivity by providing quicker and richer insights for more accurate decision-making.
  • reducing costs by using automated tasks and replacing tasks requiring manual intervention.
  • gaining efficiency by automating processes across business.
  • making better business decisions based on customer experience insights and data.
Fintech: Advanced banking ecosystems
Some experts claim that banks will need to continue to focus on improving the digitisation of their operations, remain flexible to new business models and (most importantly) put customers at the heart of their digital strategy. Hyperautomation is the full automation of the business processes and customer processes. It is achieved through an advanced ecosystem of operational and customer-facing digital solutions that leverage the flexibility and scalability of modern IT infrastructure.These specialists are ultimately free to apply their creativity into delighting customers outside of processes mentioned.
With automated business and agile frameworks a company has an opportunity to make better-informed decisions, generated through a more holistic data picture throughout the organization. Robotic Process Automation (RPA) is being enhanced and refined by technologies like artificial intelligence (AI), natural language processing (NLP), process mining, advanced analytics and more, to reduce costs, maintain accuracy and speed up processes.
Blockchain role in hyperautomation
Today business processes between companies are based on the fact that numerous process steps require the integration of different IT systems and the involvement of different parties. By leveraging blockchain technology in a common framework it will be possible to fully automate intercompany business processes without creating new monopolies and data silos.
Blockchain is considered as the opportunity to reshape industries by enabling trust, providing transparency and enabling value exchange across business ecosystems, potentially lowering costs, reducing transaction settlement times and improving cash flow. It is a virtual ledger of transactions, tracing the transfer of ownership of assets. Records are authenticated by computers spread across the world and cannot be altered. For example, in banking, it may provide crucial privacy features that are important when sensitive data are involved.
Custom developing fintech
In practice, implementing hyperautomation into your business is a lifesaver. If your business has to deal with big data analysis - apps based on hyperautomation methods will be helpful with massive data processing. Big data analytics may integrate data from several sources, for example, users behavior, stock market operation analysis and others.
Magora Cases
No doubt, big data has a big role in fintech. So if your business needs to optimize operations, enhance fraud detection and security protocols or to deliver more customer-oriented services, take a look at what Magora has to offer. Focusing on your targets and the latest trends, experienced Magora team will offer efficient solutions tailored for your business. Learn more and do not hesitate to contact us
If you see advice from our consultant on how your business can benefit, please feel free to contact us at sales@magora.co.uk

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