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An Ethical compass for the banking industry in the automation age

An Ethical compass for banking industry in automation

Decisions require a deep dive into your organization’s core values.


Partner and Head of Financial Services

KPMG Lower Gulf


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Digital labor refers to an automated workforce with capabilities to complete work that largely mirror our own abilities. These new automated “workers” use digital technologies to automate tasks human labor completes today.

And therein lies the quandary.

Various levels of automation enable capabilities we never thought possible. These technologies allow physicians to make custom treatment recommendations from an almost unlimited base of knowledge. Auditors can improve analysis of companies’ books and lessen risks as the technology reviews all past records rather than just a sample.

The banking industry also stands to benefit from these innovations. For example, the same technologies can answer calls to customer service centers and either fulfill or route them. And they may also help simplify and speed up the mortgage, home equity, and car loan processes.

This article presents options to keep tough automation decisions in alignment as much as possible, with government regulations, social and cultural norms, and company core values.

© 2020 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.KPMG International Cooperative (“KPMG International”) is a Swiss entity.

Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

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