Financial Services Organizations Accelerate Workflows With Automation
David Jensen
September 23, 2026
7 mins
Efficient information workflows are essential to the operations of financial institutions. Workflows that involve gathering and keying data, reviewing and routing documents, expediting approvals and signatures, and completing compliance preparations and audits have worked effectively for a long time. However, consumers are gravitating toward modern technologies to benefit from faster, more convenient transactions with fewer errors and duplicated efforts.
To remain competitive, keep up with the industry trends, and meet customers’ expectations for streamlined and more simplified transaction processes, financial organizations are being compelled to adopt modernized technology. For any organization, modernization efforts are accompanied by stakeholder input and requirements, decisions, and implementation hurdles. However, the transformation is necessary because financial organization workflows are getting more complex, and failing to transition from legacy systems and processes introduces greater risks, vulnerabilities, and higher costs.
Finance Operation Workflows
Financial industry workflows vary by organization, but they all overlap in how staff members need to execute and manage the tasks and operations to achieve optimal efficiency. In the finance industry, changes are inevitable. Each new or updated process adds new layers of complexity. In addition to continuous improvement of customer service, the underlying objective throughout the changes is to prevent workflows from slowing down or getting derailed altogether.
Ideally, workflows will readily adapt as conditions and processes change. However, when organizations rely on legacy technology or a patchwork of legacy systems combined with updated technology, it can impact workflows because people often need to step in and complete manual tasks to keep the work moving forward. The following sections identify common processes within a workflow and the challenges associated with each phase.
Process Mapping
Process mapping is key to successful projects and transactions. It involves a certain amount of foresight to create a detailed plan, line up the right stakeholders, and visualize each step from start to finish. This part of the workflow is challenging because planning is complex, given that it involves many disparate functions and personnel, specialized expertise, and technology. However the benefits of having a comprehensive plan make it worth the effort.
Process mapping:
- Helps mitigate risks. Process mapping as part of a workflow serves as a foundational tool to ensure smooth inter-departmental collaborations, which helps companies more easily identify and minimize risks.
- Makes change more manageable. When a process is mapped, changes can be traced against the map. Also, planning enables companies to anticipate change by spotting it early, making changes easier to implement and manage.
- Streamlines processes. Process mapping provides greater transparency making it easier for teams to collaborate and brainstorm on process improvements.
- Dissolves silos for more efficient stakeholder coordination. When teams share roadmaps, all stakeholders have visibility into each department’s priorities and contributions.
One example is that a loan processing workflow might start with an application, followed by data gathering, credit checks, document verification and signatures, transaction approval or rejection, and finally, execution of the transaction. This all looks good on paper, but anywhere along the way, delays can occur due to items slipping through the cracks, and unforeseen risks, such as losing or misfiling documents, missing signatures, having incomplete data, or receiving inaccurate information.
Data Management
Data management in financial services is the operational discipline of collecting, integrating, governing, protecting, and maintaining the data that financial organizations depend on for reporting purposes and for crafting complete, accurate, and compliant financial transactions. Data collection and maintenance in the financial sector involves leveraging ERPs, bank feeds, payroll systems, billing platforms, and customer-submitted documents.
Effective data collection and management requires efficient coordination and usage of data, analyses, and management tools. Overseeing data processes is complex because it requires different tactics for structured and unstructured data types.
Structured Data
Structured data, such as transaction data in financial systems, is organized into a predefined schema. It easily fits into a consistent tabular format stored in ledgers and relational databases. Users can connect data across systems to support analytics. Structured data is also easily searchable and accessible for decision-making and generating business reports.
Unstructured Data
Unstructured data is more complicated because it lacks a predefined schema or format that easily fits into a structured database due to being spread out across emails, online messages, voice message transcripts, paper documents, images, and audio and video files.
Historically, unstructured data was underutilized, often stored or discarded due to the difficult and time-consuming processes required to compile, organize, analyze, and use it. In addition, legacy data management systems increased the risk of inaccurate data, security vulnerabilities, and missing information.
However, unstructured data is extremely valuable to an organization. According to Gartner®, “Unstructured data, such as documents and multimedia files, accounts for 70% to 90% of organizational data.” That said, gathering, analyzing, and sharing unstructured data is an essential part of a financial organization’s workflows, particularly to avoid operational blind spots and compliance oversights, but also to ensure that the compilation of all relevant data is available for making the most effective decisions and ensuring the most accurate and timely transactions.
Cross-functional collaboration
Financial organizations operate in environments where rapid innovation, evolving regulations, and escalating stakeholder expectations are the norm. A cornerstone of financial operation workflows is a culture of cross-functional collaboration. However, cross-functional collaboration is inherently challenging due to a number of factors, such as the size and geographical dispersion of the organization.
A common business model approach that undermines effective collaboration is the siloed nature of traditional organizations. Business units need to coordinate and work around the differing timelines and priorities, making it difficult to be aligned on common goals. This often stems from companies engaging multiple initiatives simultaneously, consuming the time and attention of team members who only know the objectives of the business unit instead of how their efforts contribute to the enterprise objectives.
Documentation Processes
Financial organizations are commonly buried in varieties of documentation. Document processing involves the systematic handling, verification, and management of financial and logistical paperwork. Throughout the workflow, processes must be in place to ensure that every document is accurate, complete, and compliant.
With the vast amount of documentation that gets created and shuffled around in financial organizations, challenges are inevitable.
- Legacy document management. Companies rely on manual routing, reviews, and physical storage.
- Disjointed information sharing. Documents that are scanned, stored, or uploaded, often don’t get incorporated into the workflows.
- Version control issues. Collaborating on documents without using a centralizing tracking system risks having multiple versions of documents in circulation, which could end up in the hands of a customer or regulator.
- Omissions. Manually transporting documents imposes the risk of documents getting lost, missing critical signatures, or having unauthorized changes that go unnoticed.
- Document integrity. Many organizations lack a mechanism for identifying and preventing unauthorized changes to documents.
Compliance
Financial institutions need to comply with several state, federal, and international Acts and regulations, which are designed to be risk-focused and to protect both consumers and the organizations. Some of the more common regulations include:
- Sarbanes-Oxley (SOX). Considered the cornerstone of corporate accountability and financial integrity. The Act is designed to protect investors from corporate financial fraud by requiring adherence to strict financial reporting, information security, and auditing requirements.
- Bank Secrecy Act. Authorizes the Department of the Treasury to impose policies on financial institutions to keep records and create reports on all purchases and transactions to help detect and prevent money laundering.
- Consumer Financial Protection Act. Requires the Consumer Financial Protection Bureau (CFPB) to monitor markets for consumer financial products and services that can impose risks to consumers.
- Federal Reserve Act. Established the Federal Reserve System, which serves as the central banking system of the United States. This includes watching over banks to make sure they are safe and fair, and to alleviate fear of concentrated financial power.
- Payment Card Industry Data Security Standard (PCI DSS). Developed to bolster account data security. It contains a set of global security guidelines regarding the processing, storage, and transmission of credit card information.
The regulations that financial organizations need to comply with are daunting, and they continue to change and increase in complexity. Financial institutions continually face a steady wave of new laws, guidance, enforcement priorities, and supervisory expectations. This means company compliance teams are tasked with frequently revisiting their internal policies and practices to ensure audit-readiness and compliance.
The Future of Workflow Management
Going forward, workflow management for finance-related industries will be heavily influenced by automation, artificial intelligence (AI), and increased regulatory compliance. Organizations are transitioning from disparate, manual task-oriented workflows to a more streamlined, automated workflow infrastructure.
Modern workflow management will unify departments and foster more cross-functional collaboration. For example, data sharing protocols will enable stakeholders organization-wide to access necessary data in real time. Artificial intelligence (AI) will have an integral role in the engagement of workflows. However, AI cannot and will not replace human creativity, judgement, and problem-solving innovation. It can only augment it by streamlining routine tasks and data analysis to help accelerate processes and workflows.
Workflow automation will be a catalyst for humans to leverage technology to develop and expedite workflows and ensure outcomes are complete, accurate, consistent, and understood.
Reimagine Workflows
With the right tools and strategies, workflows can be more streamlined, efficient, collaborative, and compliant. Vasion Automate is a comprehensive solution that bridges the gap between manual and digital processes to elevate workflow efficiency, enabling companies to better align with industry trends and customer expectations. Workflows, forms, eSignatures, and storage are built into a single platform, simplifying processes, audit-readiness, and compliance.
- Enables no-code, drag-and-drop workflows that route, approve, and file documents, eliminating delays from manual sorting, data entry, and handoffs.
- Engages AI-powered data extraction to turn scanned documents and flat PDFs into structured, actionable data.
- Leverages Intelligent Print Automation for documents to automatically get routed, approved, and filed in the right place at the right time.
- Encrypts every document and logs and stores them with full metadata.
- Records every change, which supports compliance by allowing regulators or internal auditors to see when and how data was modified and stored.
Gain the full benefit of workflow automation without having to change or relearn processes.
Source: Gartner Report, Gartner Data & Analytics Summit 2026 London: Day 2 Highlights, May 2026. https://www.gartner.com/en/newsroom/press-releases/2026-05-12-gartner-data-and-analytics-summit-london-2026-day-2-highlights. Gartner is a trademark of Gartner, Inc. and/or its affiliates