Robotic Process Automation in Banking and Finance
Use Case for RPA in Banking and Finance
Manual processes can decrease productivity and increase errors at your bank. With robotic process automation in banking, your team can get back to value-adding activities. This example shows how loan applications and other financial documents can be processed accurately, securely, and quickly with RPA.
Deliver a Competitive Customer Experience with Financial Services Automation
People today are looking for instant gratification, including from traditionally slow-moving financial institutions. Your customers expect to be able to access and move their money at any time from any device, and when that isn’t possible they will quickly abandon your organization for another bank or for mobile pay systems from Apple or Google.
As you know, the behind-the-scenes reality of providing that kind of quick, 24/7 service can be daunting. You may be dealing with paper-intensive processes or legacy IT systems that don’t integrate with newer technologies. If you’ve experienced mergers or acquisitions, you probably have siloed systems of record.
Robotic process automation (RPA) software in banking allows you to quickly and accurately manage high-volume processes across complex infrastructures—and deliver the experience your customers desire.
Simplify Security and Compliance with RPA in Banking
Banks and other financial institutions are subject to a high level of regulatory compliance. Robotic process automation in banking simplifies compliance by keeping detailed logs of automated processes, automatically generating the reports an auditor needs to see, and eliminating human error.
Since it’s intuitive and easy to re-configure your software robots at any time, tweaking your processes to fit new or updated regulations is never difficult.
Rely on a Digital RPA Workforce
Robotic process automation software has the flexibility to automate almost any repeated process and the ability to scale to meet your future needs. For financial process automation, you might want to start by configuring your software robots to take some of the following processes off your hands.
New Account Entry to Multiple Systems
High-volume File Transfers
Service Desk Requests
Credit Card Application Processing
High Availability and Disaster Recovery
Data Backup and Purging