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Benefits of Robotic Process Automation (RPA) in Banking & Finance industry include scalability, increased operational efficiency, cost-effectiveness, risk and compliance reporting, availability, zero infrastructure cost, faster implementation and business growth with legacy data.

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Published by social, 2021-04-26 05:57:53

What Are the Benefits of RPA in Banking & Finance Industry?

Benefits of Robotic Process Automation (RPA) in Banking & Finance industry include scalability, increased operational efficiency, cost-effectiveness, risk and compliance reporting, availability, zero infrastructure cost, faster implementation and business growth with legacy data.

Keywords: RPA in Banking

What Are the PITCH DECK V 1.0
Benefits of Rpa
in Banking &
Finance
Industry?

Scalability The fact that robots are
highly scalable, allows you
to manage high volumes
during peak business hours
by adding more robots and
responding to any situation
in record time.

Increased
operational
efficiency

Once correctly set up, banks
and financial institutions can
make their processes much
faster, productive, and efficient.

Cost-
effectiveness

Similar to any other industry,
cost-saving is critical to the
banking industry as well.
Banks and financial
institutions can look at saving
around 25-50% of processing
time and cost.

Risk and RPA in banking helps in
compliance generating full audit trails
reporting for each & every process,
so as to reduce business
risk as well as maintain
high process compliance.

Availability

Whether you are looking to
reduce manual errors or are
achieving high accuracy at
low cost, robots work 24×7
to complete the tasks
assigned to them. Thus,
reiterating the ever-present
availability.

Zero infrastructure One of the benefits of RPA in
cost financial services is that it does
not require any significant
changes in infrastructure, due
to its UI automation
capabilities. The hardware and
maintenance cost is further
reduced in the case of cloud-
based RPA.

With RPA tools providing a

drag and drop technology

Faster to automate banking
processes, it is very easy to

implementation implement & maintain
automation workflows

without any (or minimal)

coding requirements.

Business growth With RPA implementation, banks
with legacy data and the financial services
industry are using legacy as well
as new data to bridge the gap
that exists between processes.
This kind of initiation and
availability of essential data in
one system allows banks to
create faster and better reports
for business growth.

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