Originally published in Independent Banker Magazine
This article looks at how robotic process automation (RPA) can help community banks efficiently manage manual processes.
Often, the best way to use RPA and AI is to blend them, taking the best of both technologies.
“For example, within mortgage processing, RPA can automate interactions between applications, data entry and extraction, and email and [file transfer protocol] automation,” Fisher says. “Then, by leveraging AI and unassisted machine learning, lenders can apply intelligence to mortgage document processing, eliminating costly steps like document classification, manual data entry and document analysis.”