The challenge
Financial service providers such as banks and insurers often have insufficient insight into how their processes work in practice. On paper, everything appears to be neatly standardized, but in reality, the processes are often complex, cumbersome, and spread across different systems. As a result, decisions are still too often made based on assumptions rather than facts. This limits agility, increases risks, and makes it difficult to implement structural improvements.
Our clients were therefore looking for clarity: what really happens in daily practice? With that insight, they wanted to design smarter processes and ensure that AI was not just the latest buzzword, but actually created real value.
The approach
Eraneos has mapped out the reality of their processes for several clients in the financial services sector using the E-PECT (Process Excellence Control Tower) platform. This platform combines process mining, monitoring, automation, and AI in a single environment. It provides a single source of truth for decision-making and helps organizations to better respond to customer expectations and stricter compliance requirements within the financial sector.
Process mining immediately revealed bottlenecks and deviations. Dashboards and alerts then provided control and guidance in real time, which immediately resulted in greater agility. In workshops and training sessions, employees learned to look at their work differently and saw where improvements could be made. This was followed by concrete applications of automation and AI, for example to predict bottlenecks or to process or assign files more quickly:
As a result, these organizations no longer had to guess where things were going wrong, but could see exactly what was happening and respond immediately. Technology thus became a tool for making processes simpler and better organized.
Examples include the automation of file routing, which ensures that requests are sent directly to the right person, and the use of AI models that predict anomalies in, for example, damage claims or payment processes. This reduces the need for corrective work and allows files to be processed more quickly and efficiently.
The results
We have already achieved successful results with this approach for several customers:
- Up to 35% shorter turnaround times for claim and file processing.
- Up to 40% less repair work thanks to early detection of bottlenecks.
- Increased internal knowledge and capacity to work with data and AI.
- New AI projects arising from process data.
- A cultural shift towards more fact-based decision-making.
At the same time, internal knowledge of working with data grew, increasing data analysis capacity and giving rise to new AI projects that used process data. Perhaps even more importantly, the way of working shifted. Decisions are now based much more on facts. Employees noticed that their work ran more smoothly and frustrations decreased, which increased support for change.
"What often surprised us was that employees immediately indicated that their work had become easier, without any additional workload. They saw immediate results, which greatly increased enthusiasm and support for change."
By combining people, processes, and technology, our clients laid a solid foundation for further digital innovation and the next strategic steps. The broader context also plays a role here: financial service providers are facing increasing competitive pressure, stricter legislation such as DORA, new European rules on data privacy and AI, and growing customer demand for speed, transparency, and customization. Cyber risks and sustainability requirements (ESG) are also driving change in the sector. It is precisely in this playing field that fact-based working helps to remain flexible and future-proof.
Conclusion
By combining people, processes, and technology, financial service providers can lay a solid foundation for further digital innovation and the next strategic steps. In a sector facing increasing competitive pressure, stricter legislation such as DORA and the AI Act, and growing customer demand for speed, transparency, and customization, fact-based working helps to remain flexible and future-proof.