Banks, financial institutions and insurance companies are transforming core operations to address significant industry disruptions from FinTechs and digital. Optimizing operations and improving efficiencies means more than just upgrading systems or outsourcing processes—it means innovation. One way to innovate is by using robotic process automation to improve the speed and accuracy of core business processes.
Industry research has shown that Robotic Process Automation (RPA) can drive 25-50% cost savings by automating data intensive, repetitive tasks, and by improving the accuracy and efficiency of process execution. RPA is a software-based approach. As a virtual worker, RPA replicates user actions to reduce or eliminate human intervention in mundane, repetitive, and manually intensive processes. By automating these manual processes, financial institutions can improve efficiency and accuracy. In addition, virtual workers can be deployed 24/7 reducing latency and driving higher levels of productivity.