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Path to digitization: DIY automation

When I think about digital customer experience, I think back to last September when my husband and I were finalizing the mortgage paperwork for our new home.

As we walked into our bank at the height of the pandemic, we were herded into the windowless building in a socially distanced line. We had an appointment, so we were told to wait in a different line where we stood for 10 minutes past our scheduled meeting time. As we waited, I noticed a half-dead orchid that was missing its blooms. I turned to my husband and said: “Nothing can grow here, not even your bank account.” Mild amusement ensued.

At long last, our mortgage specialist came to collect us. He apologized for being late and mumbled something about printer issues. We had already signed the papers with our mortgage broker, but we had to sign everything again, page by page. The entire process was paper-based, so we had to submit the papers, get photocopies, and keep the originals. It was clunky, and what should’ve taken 15 minutes took two hours.

Not every bank or insurer operates in this way, and some are more digitally savvy than others. Nonetheless, my personal experience begs the question: Why do so many financial service organizations still struggle to deliver a delightful digital experience?  

Data-centric processes are entwined with other systems and workflows. There’s no untangling them without ripping out the whole thing—unless you have complementary technology. 

Do-it-yourself automation can help you quickly build modern digital workflows, without uprooting your tech stack. Read on to learn how. 


The digital divide  

When it comes to digital experience, enterprise organizations are losing market share to nimble digital upstarts. Take Lemonade, for example. Affectionately referred to as “the Uber of insurance,” Lemonade was founded to make insurance less morose and more delightful, affordable, and socially impactful. And their competitors are feeling the squeeze.

By turning life’s lemons into something much sweeter, Lemonade went from zero to 100 million in revenue in just three years.

Many larger organizations struggle to keep pace with the Lemonades of the world. In search of smoother digital journeys, some organizations have adopted RPA and digital process automation (DPA) solutions. While the automation of workflows and processes is quite appealing at first glance, there are bottlenecks that stand in the way of successfully leveraging automation tools.

One common challenge is the inability to access and leverage unstructured data like documents, emails, and text files. Many organizations don’t have a way to access the right documents at the right time either. As a result, manual extraction is often required to facilitate data exchange between various processes.

RPA, process orchestration, AI-driven smart workflows, and autonomous intelligence solutions attempt to solve these issues. However, a lot of these technologies are limited by the data that fuels them, and quality data is often in short supply.

Even after diligent vetting, new technology can yield negative cascading effects and break a company’s entire tech stack. And even if a digitization solution is successful, enterprise vendors often require months of implementation and setup time before the platform is operational. Costs are high, and timelines are as slow as molasses.

DIY automation offers a way forward, allowing your team to quickly build custom digital journeys with the technology you have.


DIY automation in action

Where other solutions focus on increasing the efficiency of your document-based processes by extracting data, DIY automation does the opposite. What if you weren’t tied to documents? What if you could create a digital version of that experience while retaining documents for compliance, no matter how or where data is collected?  

With DIY automation, you can deliver a Lemonade-like experience that works with your current systems and IT landscape.

Let’s say you need to digitize a data-centric process, like mortgage approval, credit card applications, power of attorney forms, or claims submissions. Chances are, you have an intricate tech stack in place to make these processes possible. You may have a mix of legacy processes, document automation, machine learning, RPA, and other technologies in place.

You could hire an external vendor to help build out a solution to your problem, but that would be costly and won’t easily scale. You may also need to “rip and replace” technologies you’ve come to rely on. By contrast, when you adopt a solution that powers DIY automation, you can easily build a custom solution yourself and get up and running in days.

Take one of Daylight’s top banking clients, for instance. By converting their complex small business credit card application process into a streamlined digital experience, they saw a 300 percent growth of new accounts and a 90 percent reduction in credit card application errors.

By leveraging DIY automation, one of Daylight's national insurance clients digitized their claims reporting process and saved $2.5 million annually. These are just a few examples of the positive business outcomes surrounding DIY automation and the possibilities to streamline data-centric workflows is endless. 

Instead of hiring yet another enterprise vendor and spending months to roll out a solution, you can build custom digital journeys in days.

The low-code element of DIY automation means you don’t need to uproot entire systems. Instead, you give your team the tools they need to build solutions to any data-centric process. If there’s a process with multiple data inputs and you want to make that process flow better, that’s where DIY automation shines.

DIY automation helps you modernize the capabilities of your legacy set-up, putting the power back in your hands.   

DIY automation technology layers on top of your tech stack, working with legacy tools and RPA, document automation, and other technologies to digitize and modernize processes. It doesn’t disrupt anything you have—it just settles on top and modernizes the capabilities of your legacy setup.


In short

Gone are the days of bloated, costly enterprise solutions that take months to roll out. With DIY automation, your team can build and scale custom digital journeys in days. You don’t need to rip and replace entire systems either. With DIY automation, you avoid disruptions and extend the value of your current technology. So you can reach the mythical milestone of digital customer experience once and for all without giving your team headaches.  

Learn more about achieving end-to-end automation. Read the e-Book.