There are multiple benefits to adopting hyperautomation in the banking sector

According to Gartner, the market for hyperautomation technology will hit $596.6 billion in 2022. We'll see organisations able to run 25% more tasks autonomously by 2023 and cut operational costs by 30% the following year—if companies combine a hyperautomation strategy with redesigned operational processes. 

This shift toward hyperautomation is transforming the world of systems integrators—a trend that the systems integrators Jitterbit recently surveyed, and their customers, are well aware of. According to our latest research, 64% of those asked agree that hyperautomation is a key business priority for their customers in 2022, while 76% of system integrators reported their customers now value automation over integration. These trends also apply to those operating in the financial services sector.

The highly targeted research we commissioned shows a disrupted ecosystem, where systems integrators are aware of the growing importance of adopting a hyperautomation for themselves and their customers. 

Handled strategically, the situation presents a huge opportunity for systems integrators in the financial services sector. Download the full report here—and continue reading for four ways hyperautomation is an opportunity for system integrators working in financial services.

1) Hyperautomation relies on integration; systems integrators can offer both

There is no automation without integration. Hyperautomation transforms an organisation’s processes for gathering, analysing, and deploying data. To do this, hyperautomation efforts rely on a toolbox with robotic process automation (RPA), data warehousing elements (data lakes and data integration hubs, for example), and analytic solutions. 

But, and here’s the key part, these tools can only be applied once the multitudes of applications and systems they rely on to deliver products, services, and solutions to their customers have been integrated. However, according to our research, customers increasingly overlook this—with 76% of systems integrators agreeing their customers increasingly value automation more than integration. 

While the value of integration can’t be disputed, the perception of it is changing. So it's up to systems integrators to educate customers on the interplay between integration and automation. By doing this, systems integrators—who can offer both services in one package—will quickly increase their value in the eyes of the customer.

2) It’s a chance to diversify

If low-code, self-serve tools have opened the door for “business technologists” to develop their own integrations, then why shouldn’t systems integrators get in on the act? Despite all the recent changes, the most important thing for systems integrators remains the focus on the customer and their specific needs. System integrators should partner with iPaaS companies to expand their knowledge of integrations, diversify their capabilities, and increase the solutions they offer—which can then be sold back to customers. 

The systems integrators that stand out to clients will be the ones who offer solutions tailored to client needs and issues. Cookie-cutter solutions from systems integrators are off the table—but solutions that are convenient and accessible, especially in a world of hybrid working, will be highly rated.

3) The marketplace ecosystem is an opportunity for everyone, including systems integrators 

An expanded understanding of different integrations and a range of new solutions needn’t be limited to use in singular transactions with customers. The more systems integrators diversify and the more they master integration through a partnership with iPaaS providers, the more they can leverage the growing marketplace ecosystem. 

To remain relevant to customers and grow their businesses, systems integrators should become active participants in marketplaces—a growth area both resulting from and accelerating the customer move towards hyperautomation. Every custom integration created by a systems integrator can then be marketed to a wider pool of prospective customers via the marketplace. 

Moreover, the marketplace effect is so strong that many customers—both B2B and B2C—have the potential to create API marketplace offerings of their own. Systems integrators can, if positioned right, provide integration services to enable this customer growth.

4) Low code app building trend requires the expertise of systems integrators

There’s an increasing need for businesses to create and develop their own enterprise apps—a trend that creates a market opportunity for systems integrators to partner with integration providers to help customers achieve this. 

If the partner offers an off-the-shelf, custom “low-code” enterprise app, the systems integrator can leverage their customer insight to adapt and customise it. It’s win-win, because the partner does the heavy lifting in providing the solution, while the systems integrator remains relevant to the customer —without needing to take on significant technical resources.

If you’re interested in finding out more, download our data-led report “SaaS partnerships in the Age of Hyperautomation” here: https://www.jitterbit.com/partners/systems-integrators-in-the-age-of-hyperautomation?utm_source=blog&utm_medium=Content&utm_campaign=SaaS+partnerships+in+the+age+of+hyperautomation