KnowledgeLake, a leading provider of intelligent document processing (IDP) solutions, today announced that the California State Treasurer’s Office has selected the company’s cloud-native solution to capture, process, and manage their mission-critical documents. The State Treasurer’s Office oversees an investment portfolio that has averaged more than $100 billion during the current administration, about one-third of which are funds beneficially owned by more than 2,200 local governments in California. In addition, the State Treasurer’s Office manages three savings programs helping ind ..read more

LinkedIn Twitter Facebook YouTube Generational turnover and an overall labor crunch are fast transforming the workforces of banks, credit unions, and other financial institutions. PwC estimates that contingent or contract workers (temps, consultants, and contractors) now make up between 10 to 30 percent of the total financial services workforce. And that number continues to rise at a blistering pace. Executive search firm Smith & Wilkinson predicts that a “structural worker deficit” may last another decade. The reasons for the shift from hiring employees to contracting guns for hire incl ..read more

LinkedIn Twitter Facebook YouTube The KnowledgeLake team attended American Banker’s Digital Banking 2022 conference in Austin last week. It was the first in-person edition of the conference since 2019, and provided an excellent vantage point to take in the major trends and technologies impacting regional banks, community banks, and credit unions. The speed and scope of change within the entire financial services industry is breathtaking. As more than one speaker noted, we are seeing a once-in-a-lifetime shift that will yield a very different landscape than the one banks and credit unions hav ..read more

LinkedIn Twitter Facebook YouTube In an era of unprecedented competition and customer expectations, banks and credit unions are understandably looking at smart automation as a way to improve core processes, enhance productivity, and advance digital transformation initiatives. Whether or not they succeed will have a lot to do with how they evolve their technology stack. The finance technology or FinTech toolkit has different options to choose from when it comes to automation in banking. Robotic process automation (RPA) and AI/machine learning have gained traction and greatly expanded the scop ..read more

LinkedIn Twitter Facebook YouTube Two technologies are driving an evolutionary improvement in banking automation. They are robotic process automation (RPA) and machine learning (ML), which is a form of artificial intelligence (AI). These technologies are newer branches of the same automation tree where older technologies such as optical character recognition and forms processing live. RPA uses virtual “robots” to automate repeatable business processes such as copying a loan account balance into a report, or moving files from one folder to another. These robots are programmed to complete repe ..read more

The scale and importance of global supply chains are almost impossible to overstate. For example, there are an estimated 44 million jobs in the US supply chain alone, and without the ability to efficiently move goods and materials, many industries simply would not be able to operate. A factory without any way to ship its finished goods to customers is little more than a highly inefficient warehouse. Of course, running an operation as large and complex as the average supply chain requires substantial investment. PriceWaterhouseCooper reports that a supply chain commonly represents more than 10 ..read more

LinkedIn Twitter Facebook YouTube The banking industry is seeing a seismic shift away from the traditional way of banking in the digital era. Last week, KnowledgeLake held an exclusive roundtable for senior leaders at regional and community banks to discuss the challenges they face in this evolving landscape and how technology can help them meet those challenges. Our discussion was led by three financial technology experts with decades of experience in the space. Bob Browne is a four-decade banking and FinTech startup veteran who advises community and regional banks nationwide on digital tra ..read more

KnowledgeLake, a leading provider of intelligent document processing (IDP) solutions for digital transformation, today announced the company has been recognized as the winner of the 2022 Microsoft Education Partner of the Year Award. The Partner of the Year Awards recognize Microsoft partners that have developed and delivered outstanding Microsoft-based applications, services, and devices during the past year. Awards are classified in various categories, with honorees chosen from a set of more than 3,900 submitted nominations from more than 100 countries worldwide. Microsoft recognized Knowled ..read more

KnowledgeLake has been awarded a Top Workplaces 2022 honor by St. Louis Post-Dispatch Top Workplaces. The list is based solely on employee feedback gathered through a third-party survey administered by employee engagement technology partner Energage LLC. The anonymous survey uniquely measures 15 culture drivers that are critical to the success of any organization: including alignment, execution, and connection, just to name a few. “During this very challenging time, Top Workplaces has proven to be a beacon of light for organizations, as well as a sign of resiliency and strong business performa ..read more