Explore insights from Camunda CTO Daniel Meyer and Ernst and Young’s Deepak Tiwari on automation in financial services, including the challenges of vendor management and the role of AI.
A new blog post of CanundaCon 2023 was published on 2023-09-28 00:14:34:
Overview:
The first day of CanundaCon in New York featured discussions on automation in financial services, led by Camunda CTO Daniel Meyer and Ernst and Young’s Deepak Tiwari. Key topics included the challenges of managing multiple vendors, IT modernization, and the role of AI in enhancing solutions.
Core content:
- Discussions centered on implementing best practices for hyperautomation in financial services, addressing technical and vendor-management challenges.
- The conversation highlighted how financial institutions increasingly view themselves as software companies, exploring the implications of low-code platforms.
- Key topics included IT modernization via cloud replatforming, generative AI, and the integration of personal devices in financial services.
- A fireside chat with Camunda leaders discussed the company’s growth and emphasis on a process-first approach and centers of excellence.
Learnings:
- Understanding the complexities of selecting and integrating multiple tools for hyperautomation can significantly influence project success in financial settings.
- The interaction of emerging technologies like generative AI is essential for modernizing legacy systems and enhancing operational efficiency.
- Creating best practices through centers of excellence is critical to prevent misuse of process models in automation scenarios.
- Financial institutions must navigate the dual role of being both service providers and software developers to stay competitive.
The original content was published in English.