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Kearny Financial Corp. announces a strategic partnership with The Lab Consulting to implement advanced automation and data-driven solutions, aiming to boost efficiency, enhance client experience, and deliver measurable shareholder value within the financial services industry.
Kearny Financial Corp. has announced a strategic partnership with The Lab Consulting aimed at driving significant operational efficiency and enhancing client experience through advanced process improvement and automation solutions tailored for the financial services industry. This collaboration is designed to streamline Kearny’s operations, boost workforce productivity, and deliver measurable shareholder value via cost optimisation and scalable growth.
Craig Montanaro, president and CEO of Kearny Financial Corp., emphasised the strategic nature of the partnership, stating, “Operational agility and client-centricity are critical to our long-term success. Our partnership with The Lab Consulting is a strategic investment in our future — one that will allow us to streamline operations, empower our teams and deliver stronger returns for our stakeholders.” The project is rooted in a multiphase innovation methodology that addresses various dimensions of operational improvement.
At the heart of the initiative is the deployment of robotic process automation (RPA) and AI-enabled document processing. These technologies are expected to eliminate manual, repetitive tasks and accelerate workflows, enhancing efficiency at multiple levels. This includes workflow orchestration by leveraging industry-leading automation platforms to integrate processes across departments and systems, ensuring seamless operational flow.
Another vital component of the partnership involves real-time data-driven insights. Advanced tracking of key performance indicators (KPIs) via dashboards will provide Kearny with immediate visibility into performance metrics, empowering data-led decision-making. This approach extends to client experience optimisation—redesigning client-facing processes for improved speed, accuracy, and satisfaction, while ensuring all automation measures securely integrate with Kearny’s core banking and CRM platforms.
According to Chris Wilds, director of automation at The Lab Consulting, “By combining process mapping, RPA, AI-enabled intelligent document processing and advanced analytics, we’re enabling Kearny Financial Corp. to achieve rapid, scalable improvements in efficiency and client service.” The initiative also incorporates sustainable change management practices including knowledge transfer and best practices to sustain long-term adoption and continuous improvement across the organisation.
The programme is projected to deliver tangible operational benefits within the first year, including reduced operating expenses and increased capacity for revenue-generating activities. Longer-term advantages include improved employee engagement and a fortified competitive position in the financial services market. This aligns with a broader industry trend where financial institutions are aggressively embracing automation and technology to optimise operations and better serve customers.
This strategic move complements Kearny Financial Corp.’s recent actions to enhance its cost structure. The company has previously undertaken a comprehensive restructuring of its investment securities portfolio and adopted a company-wide operating efficiency initiative. This initiative aims for an annualised reduction in operating expenses of between five and ten per cent through cost-reduction measures such as vendor spend optimisation, automation or outsourcing of routine activities, and workforce realignment.
Kearny Financial’s focus on operational efficiency and client centricity through this partnership with The Lab Consulting reflects a forward-looking approach to achieving sustainable growth and strengthening shareholder value in a competitive financial landscape.
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Source: Noah Wire Services
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