RPA provides innovation step change for financial services
High volatility in financial services has long been a common feature of the industry – influenced by political, economic and geographic fluctuations, it is progressively more difficult for organisations in any area of financial services to maintain a constant operational strategy.
The financial crisis of 2008 was unforeseen and acted as a catalyst for widespread disruption and change – creating a relentless need to adapt and innovate. The more nimble organisations will be able to exploit market opportunities ahead of those with a more burdensome legacy of old systems, independent operations and a reliance on a diminishing pool of talent.
Having a capability to integrate systems and automate processes can become a key advantage in winning new business and increasing profitability while demonstrating regulatory compliance and product innovation.
Virtual Operations can help retail banks, investment banks, insurance companies and credit card companies automate across a range of functions with low risk and quick deployment.
With robotic process automation, financial services organisations can:
A number of financial services companies are already benefiting from the deployment of robotic process automation. Examples include:
For all types of financial services companies, operational costs and efficiency, customer service, market competitiveness and regulatory compliance can all be enhanced by taking advantage of this low-risk, low-cost and liberating technology.