17/02/22, 16:50 15 of the Best Banking and Finance BPM Software Solutions

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Posted on December 15, 2021 by William Jepma in Best Practices

Our editors have compiled a list to spotlight some of the best banking and finance
BPM software solutions to help your company equip itself with the industry-specific
capabilities it needs.

Business process management (BPM) software solutions can be a valuable

addition to any company’s tech stack, regardless of its size or industry. With the
right BPM tool, a company can help its teams improve the way they develop,
navigate, and improve internal and external processes and workflows. These
solutions can be incredibly productive for banking and financial-centric enterprises,
Vendor Map Report BPM
as these companies need to remain agile and responsive in the face of rapidly
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emerging industry trends.

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17/02/22, 16:50 15 of the Best Banking and Finance BPM Software Solutions

Choosing the right finance BPM solution can be challenging, though. Companies
need a product that can meet their immediate needs and grow alongside them as
processes change, the market evolves, and customer expectations fluctuate. With
that in mind, our editors have compiled the following collection of banking and
finance-centric BPM software providers. We selected these vendors based on their
service offerings, experience working with smaller businesses, overall reputation,
and customer satisfaction. The list is not static and may change based on market
trends.
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The Top 15 Free and

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The Best Banking and Finance BPM Best Business Process

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The Top 13 Free and

Open Source RPA Tools

Description: Appian helps organizations build apps and workflows with a low-code Understanding the

platform outfitted with robotic process automation (RPA), case management, Difference Between

artificial intelligence, business process management (BPM), and other capabilities. Workflow Management

The company offers a suite of tools and features for financial services and banking and BPM

companies designed to unify company data, processes, and people. Appian’s

financial-specific features include lending and payment tools, customer lifecycle The 10 Best Business
management, new business lifecycles, and other functionalities capable of helping Process Management
reduce costs, manage risk, and ensure compliance. Books to Read in 2022

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The 9 Best Lean Six

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Description: Bizagi provides clients with an intelligent process automation platform Consider Reading

to connect people, applications, information, and robots. With Bizagi’s suite of

financial services, companies can gain the trust of their clients, achieve operational The 6 Best Process
excellence, accelerate time to market, mitigate risks, reduce costs, and more. The Improvement Courses

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17/02/22, 16:50 15 of the Best Banking and Finance BPM Software Solutions

platform’s automation capabilities can be applied to insurance claims, loan on LinkedIn Learning
originations, wealth management, fraud prevention, credit decisioning, and policy
administrations. Key Goals of Business
Process Management

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Jumping on the AI
Bandwagon: Why it
Makes Sense for Every
Enterprise

Description: Bonitasoft develops and offers an open-source solution that helps

developers create business applications capable of responding and adapting to
real-time changes, UI updates, and more. Companies can use Bonitasoft to
automate, monitor, and model business operations to streamline overall processes,
increase the visibility of those operations, and improve collaboration. With
Bonitasoft, financial institutions across marketplaces can provide better customer
service, protect against illegal activity, remain compliant with regulations, enhance
digital security, and fuel growth.

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Description: BP Logix is a privately held company offering an AI-enabled, low-

code/no-code, intelligent automation platform to help users improve customer
engagement, market agility, and regulatory compliance. Titled Process Director, BP
Logix’s platform includes a business process management engine, easy integration
with data streams, a suite of machine learning tools, out-of-the-box application
connectors, and more. Financial service organizations can use Process Director as
a finance process automation solution that streamlines operations, ensures
compliance, and stay on top of changing market trends and regulatory conditions.

LEARN MORE

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17/02/22, 16:50 15 of the Best Banking and Finance BPM Software Solutions

Description: Camunda is an open-source software company that provides clients

across business and IT markets with scalable, developer-friendly, collaborative, and
standards-based process automation services. The company’s workflow and
decision automation tools enable organizations to build software applications that
improve business agility and streamline digital transformations. Camunda’s end-to-
end process orchestration solutions can help financial services companies design,
manage, automate, and improve customer onboarding, payment processing, Know
Your Customer (KYC) processes, trade reviews, loan decisioning, fraud
management, and more.

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Learn more and compare products with Solutions Review’s Free Buyer’s Guide
for Business Process Management.

Description: Comindware is a global software company that provides Business

Operations Management (BOM) solutions for logistics, transportation, online
education, IT service management, software development, and digital banking. The
Digital Banking BOM solution can help users automate bank workflows within days,
integrate them with other banking systems, improve decision-making processes,
and react to customer expectations. Features include workflow editor tools,
approval request routing, reusable workflow templates, full automation capabilities,
and escalations based on inactivity and due dates.

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Description: FlowForma provides no-code workflow and process automation tools

for Microsoft Office 365. The FlowForma Process Automation solution includes
workflow management, advanced reporting tools, no-code automation, document
generation, cross-functional collaboration features, governance tools, and more.
Financial services companies can use the solution to improve efficiencies and
provide better customer service with a suite of client engagement, compliance,

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17/02/22, 16:50 15 of the Best Banking and Finance BPM Software Solutions

policy management, insurance renewal, pension administration, document

management, and risk management features.

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Description: The  iGrafx  Strategic Transformation Platform enables transformation

by connecting strategy to execution while mitigating risk and ensuring compliance.
The solution is a cloud-based platform that allows businesses to meet today’s
increasing challenges by executing a strategic vision, operationalizing Governance,
Risk, and Compliance (GRC), and delivering holistic Quality Management (QMS).
Financial Services Organizations can use iGrafx to optimize processes, comply with
regulations, maintain enterprise-wide accountability, manage the risks associated
with organizational process changes, reduce costs, and re-engineer processes as
needed.

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Description: The Nintex Process Platform is a no-code solution for process

management and automation. Features include process mapping, workflow
automation, process analytics, robotic process automation (RPA), eSignature
capabilities, digital forms, and document automation. Nintex also offers automated
financial services to help users deliver high-quality customer experiences via
human-centric automated solutions for banking, wealth management, lending,
asset management, financial data, policy underwriting, and more.

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Description: Pega offers a Business Process Management platform that allows

users to assemble an executable business application with visual tools. Its solution

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17/02/22, 16:50 15 of the Best Banking and Finance BPM Software Solutions

offering includes capabilities for lifecycle management, chatbots, DevOps, real-time

intelligence, case management, robotic process automation, UX design, workflow
intelligence, low-code development, and more. With Pega for Financial Services,
banks can simplify their processes with tools for lending, onboarding, KYC,
customer service, banking operations, and personalized customer interactions.

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Learn more and compare products with Solutions Review’s Free Buyer’s Guide
for Business Process Management.

Description: Pipefy is a low-code/no-code process orchestration platform designed

to help companies efficiently manage business processes and automate
workflows. Its features include workflow management, reporting tools, email
templates, data migration, process management, approval flows, email messaging,
and a suite of custom integrations. The company’s Finance Process Optimization
Software can help users automate tasks, communicate with stakeholders, integrate
with other financial tools, engage with vendors, and monitor their entire operation
from a single screen.

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Description: ProcessMaker is a low-code BPM and workflow automation software

provider. Its BPM offerings are known for their ease of use and customizability, and
offer a collection of features for designing, running, improving, and reporting on
company processes. The ProcessMaker for Banking solution suite can help users
digitize and streamline their banking processes. Features include commercial
account opening, loan processing, treasury management, automated workflows,
and compliance tools.

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17/02/22, 16:50 15 of the Best Banking and Finance BPM Software Solutions

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Description: Quixy is a cloud-based, user-friendly digital transformation platform

designed to help business users build unlimited enterprise-grade applications with
a simple, code-free, drag-and-drop design. Companies can also develop unique user
interfaces, model processes, manage tasks across departments, generate
documents on the fly, extract actionable insights from real-time data, and more.
Quixy also offers industry-specific features for banking, financial services, and
insurance companies. These include financial management, investment
management, policy issuance, customer onboarding, claims management, banking
portals, and more.

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Description: TrackVia is a user-friendly offering that’s often viewed as an alternative

to many traditional BPM platforms. As a low–code platform, users can quickly
assemble their applications to match their unique business processes without
extensive IT assistance or coding knowledge.  TrackVia  provides real-time reports,
interactive charts, intelligent charts, intelligent automation, and user permissions.
Financially-based companies can use TrackVia to align departments, generate real-
time reports, and standardize, simplify, and automate processes across the
company.

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Description:  WEBCON is a software provider that offers an enterprise-grade and

low-code business process automation and management platform to help
companies worldwide improve efficiencies, streamline processes, and drive overall
business growth. The WEBCON BPS platform is equipped with business process

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17/02/22, 16:50 15 of the Best Banking and Finance BPM Software Solutions

management, robotic process automation (RPA), document management, workflow

automation, business process digitalization, no-code delivery, and integration
capabilities. The company’s low-code automation platform can help financial
services companies improve operations, streamline processes, minimize risks,
ensure compliance, optimize customer experiences, and more.

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Author Recent Posts

William Jepma
Writer, Editor, & Analyst at Solutions Review

William Jepma is an editor, writer, and analyst at Solutions

Review who aims to keep readers across industries
informed and excited about the newest developments in
Enterprise Resource Planning (ERP), Customer
Relationship Management (CRM), Business Process
Management (BPM), and Marketing Automation. You can
connect with him on LinkedIn or reach him via email at
wjepma@solutionsreview.com.

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Tagged Appian Banking BPM Bizagi Bonitasoft BP Logix

Business Operations Management Business Process Management

Camunda Comindware Finance BPM FlowForma iGrafx Nintex

Pega Pipefy Process Automation Process Director ProcessMaker

Quixy Strategic Transformation Platform Trackvia WEBCON

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17/02/22, 16:50 15 of the Best Banking and Finance BPM Software Solutions

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