How AI Cuts Operational Costs in Financial Services

The traditional architecture of financial services operations is undergoing a fundamental shift as institutions move beyond simple cloud migration to embrace targeted automation. 

By deploying AI-driven tools, such as NetSuite’s Financial Exception Management agent, firms are successfully eliminating the friction of manual data entry and invoice processing. 

Current industry benchmarks underscore this transition: Mastercard research reveals that 73% of organisations utilising embedded finance have significantly reduced manual workloads.

From enhanced customer interfaces to automated compliance checks, these technologies are transforming vast datasets into actionable insights, protecting the bottom line and streamlining procurement cycles in an increasingly digital US$100bn+ sector.

Google Cloud partnerships demonstrate productivity gains

Manual processes in banking operations are being replaced by automation systems that handle data entry, compliance checks and financial report generation. The technology analyses vast datasets of transactions in real-time to increase productivity and decrease manual processing time.

Maxim Afanasyev at Google Cloud says the company is developing AI-driven tools in collaboration with Starling Bank and Ecobank to improve customer interaction and deliver accessible financial services. 

Speaking at FinTech LIVE Singapore, Afanasyev emphasised leveraging data to solve business challenges rather than simply migrating legacy systems to cloud infrastructure.

Oracle Netsuite improves efficiency 

Robotic Process Automation combined with AI is enabling banks to extract data from documents and analyse information to obtain relevant insights more efficiently. 

The technology enables real-time sales or service actions based on data analysis.

Oracle NetSuite introduced a Financial Exception Management agent that flags anomalies to resolve financial discrepancies before they affect bottom lines.

Evan Goldberg, Founder and Executive Vice President at Oracle NetSuite, said at the time: "Modern businesses with diverse revenue streams need to connect data and automate processes across their financials, inventory, sales operations and more.”

NetSuite's Bill Capture utilises AI and machine learning to automate invoice processing, eliminating data entry through document object detection and optical character recognition.

Mastercard: how embedded finance affects financial reconciliation

Organisations implementing embedded finance solutions report reductions in manual workflows across procurement operations. 

Mastercard research indicates that 73% of organisations using embedded finance have reduced manual effort through automation, whilst the same percentage cite improvements in accuracy and reliability.

Manual workflows present the biggest obstacle for organisations that have not adopted embedded finance, with reconciliation processes and reporting accuracy emerging as particular pain points. 

Payment integration with procurement platforms offers organisations a way to address cash flow management whilst strengthening relationships with suppliers, according to Mastercard's findings.

Efficiency is a topic that will be part of an exclusive breakfast roundtable with OpenText and Cognizant on how Generative AI is transforming enterprise content, strengthening customer communications and improving operational efficiency across financial services.

Register your interest today to join industry leaders for Reimagining Financial Services Through the Power of AI at Breakfast at Tiffany’s, New York, on 29 January 2026.