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UST - Transforming Intelligent Automation in Banking
Vendor Analysis
published on Apr 05, 2023
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Report Overview:
This NelsonHall vendor assessment analyzes UST’s offerings and capabilities in intelligent automation for the banking and financial services sector
Who is this Report for:
NelsonHall’s “Transforming Intelligent Automation in Banking” profile on UST is a comprehensive assessment of UST’s offerings and capabilities for the BFS sector, designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of intelligent automation process services and identifying vendor suitability for intelligent automation services in banking RFPs
- Vendor marketing, sales, and business managers looking to benchmark themselves against their peers
- Financial analysts and investors specializing in the support services sector.
Scope of this Report:
The report provides a comprehensive and objective analysis of UST’s BFS-focused intelligent automation offerings, capabilities, and market and financial strength, including:
- Identification of the company’s strategy, emphasis, and new developments
- Analysis of the company’s strengths, challenges, and outlook
- Revenue estimates
- Analysis of the profile of the company’s customer base, including the company’s targeting strategy and examples of current contracts
- Analysis of the company’s offerings and key service components
- Analysis of the company’s delivery organization, including the location of delivery centers.
Key Findings & Highlights:
UST has been delivering automation services since 2014 when it delivered its first engagement for a capital markets firm. The engagement automated data aggregation from third-party data vendors. UST soon expanded its automation services into document data extraction and eventually all process areas. The three core areas of UST’s intelligent automation services are:
- A consulting-led approach to intelligent automation through UST SmartStart
- Banking-domain-focused use cases: loan origination, customer onboarding and KYC, branch system health monitoring, etc.
- Domain-neutral functions including Intelligent Document Processing and AIOps.
By 2016 UST began productizing its automation capabilities into what would become its automation platform. The platform was rolled out as a product offering in 2019. The platform, UST SmartOps, is an intelligent automation platform targeting tier one and mid-tier banks in the financial services industry. The platform was not designed to replace labor, but to enhance workforce productivity with support from bots.
Buyers should take note of this report’s analysis of UST’s delivery of document-centric processes, IT services, and managed services for IA environments.