• About Us
  • Contact Us
askRPA
  • Home
  • News
    Baidu unveils Ernie Bot, its new large language model, but how does it compare to others?

    Baidu unveils Ernie Bot, its new large language model, but how does it compare to others?

    Unlock the Full Potential of Intelligent Automation: Join the Intelligent Automation Congress and Access a Wide Range of Benefits Today!

    Unlock the Full Potential of Intelligent Automation: Join the Intelligent Automation Congress and Access a Wide Range of Benefits Today!

    AntWorks and Pointee become enterprise members of Intelligent Automation Congress

    AntWorks and Pointee become enterprise members of Intelligent Automation Congress

    Intelligent Automation Congress driving innovation with VIT University Chennai

    Intelligent Automation Congress driving innovation with VIT University Chennai

    Stay Ahead with Intelligent Automation Congress’s Enterprise Membership

    Stay Ahead with Intelligent Automation Congress’s Enterprise Membership

  • Case Studies
    Santander Consumer Bank Leverages Robotic Process Automation (RPA) to Save $2M on Systems Migration

    Santander Consumer Bank Leverages Robotic Process Automation (RPA) to Save $2M on Systems Migration

    Robotic Process Automation (RPA) Empowers R1 RCM to Successfully Automate More Than 15M Tasks

    Robotic Process Automation (RPA) Empowers R1 RCM to Successfully Automate More Than 15M Tasks

    Dai-ichi Life Insurance Reports that They Saved Over 132000 Hours with Robotic Process Automation (RPA)

  • Blogs
    The Applications, Benefits and Challenges of Automation in Accounting

    The Applications, Benefits and Challenges of Automation in Accounting

    How is Citizen Automation different from enterprise RPA?

    How is Citizen Automation different from enterprise RPA?

    Why is an RPA Center Of Excellence (CoE) necessary for your company?

    Why is an RPA Center Of Excellence (CoE) necessary for your company?

    How does the Entertainment Industry leverage Automation?

    How does the Entertainment Industry leverage Automation?

    How can RPA, AI, and Intelligent Automation bridge the gap between the required and available skills?

    How can RPA, AI, and Intelligent Automation bridge the gap between the required and available skills?

  • IA Congress – March 2023 Chennai, India
  • Events
    • Intelligent Automation Congress – March 2023 Chennai, India
    • 6th International Intelligent Automation Congress
No Result
View All Result
askRPA
  • Home
  • News
    Baidu unveils Ernie Bot, its new large language model, but how does it compare to others?

    Baidu unveils Ernie Bot, its new large language model, but how does it compare to others?

    Unlock the Full Potential of Intelligent Automation: Join the Intelligent Automation Congress and Access a Wide Range of Benefits Today!

    Unlock the Full Potential of Intelligent Automation: Join the Intelligent Automation Congress and Access a Wide Range of Benefits Today!

    AntWorks and Pointee become enterprise members of Intelligent Automation Congress

    AntWorks and Pointee become enterprise members of Intelligent Automation Congress

    Intelligent Automation Congress driving innovation with VIT University Chennai

    Intelligent Automation Congress driving innovation with VIT University Chennai

    Stay Ahead with Intelligent Automation Congress’s Enterprise Membership

    Stay Ahead with Intelligent Automation Congress’s Enterprise Membership

  • Case Studies
    Santander Consumer Bank Leverages Robotic Process Automation (RPA) to Save $2M on Systems Migration

    Santander Consumer Bank Leverages Robotic Process Automation (RPA) to Save $2M on Systems Migration

    Robotic Process Automation (RPA) Empowers R1 RCM to Successfully Automate More Than 15M Tasks

    Robotic Process Automation (RPA) Empowers R1 RCM to Successfully Automate More Than 15M Tasks

    Dai-ichi Life Insurance Reports that They Saved Over 132000 Hours with Robotic Process Automation (RPA)

  • Blogs
    The Applications, Benefits and Challenges of Automation in Accounting

    The Applications, Benefits and Challenges of Automation in Accounting

    How is Citizen Automation different from enterprise RPA?

    How is Citizen Automation different from enterprise RPA?

    Why is an RPA Center Of Excellence (CoE) necessary for your company?

    Why is an RPA Center Of Excellence (CoE) necessary for your company?

    How does the Entertainment Industry leverage Automation?

    How does the Entertainment Industry leverage Automation?

    How can RPA, AI, and Intelligent Automation bridge the gap between the required and available skills?

    How can RPA, AI, and Intelligent Automation bridge the gap between the required and available skills?

  • IA Congress – March 2023 Chennai, India
  • Events
    • Intelligent Automation Congress – March 2023 Chennai, India
    • 6th International Intelligent Automation Congress
No Result
View All Result
askRPA
No Result
View All Result

Robotic Process Automation is All Set to Further Transform Traditional Financial Services for the Better

August 21, 2022
Home News
Share on LinkedInShare on FacebookShare on WhatsApp

Banks and financial service providers are looking at changes, especially in their operations, that are expected to undeniable value in terms of performance, productivity, and cost reduction. Every bank and financial institution is starting to understand that automating their processes not only puts them ahead in the customer service race but also allows them to enhance the accuracy with which every automated process can be performed. Integrating automation into their operations does not only make their processes independent of manual labor, but it also makes the institution self-directed.

What Services in a Bank or Financial Institution can be revolutionized by RPA?

The statement that setting up RPA and training employees is an uphill task, but once it is established and started running, the results will be more than worth the investment. Every monotonous task can be automated successfully and can be performed with efficiency and accuracy. Services like fund transfers, loan processing, and issuance, and the most revolutionized job in the whole of BSFI, underwriting, can be performed with precision. It is estimated that integrating RPA to automate processes can reduce the time needed to perform them by 90% while increasing cost savings by over 80%.

One interesting aspect of automated banking services is hyper-personalization of the same. Based on the transactions of a customer, their digital footprint can be used to offer them personalized services that will fit their day-to-day responsibilities, the type of errands they run, the frequency with which they might need certain services, and even the kind of loans they might be looking for.

What Processes Have and Will See Automation in Banks and Financial Service Providers?

The whole of digital banking has taken a new meaning with the advent of automation. The most strenuous processes are often those that are associated with customer service. Solving customer queries have been time-consuming, especially given the number of calls they take each day, the time it takes to solve each query, and the delay in customers receiving the solution to their problem.

Chatbots have existed since the beginning, and it is no surprise that they are associated with automation, despite the industry they are employed in. But banks have taken a step further in making them more accessible through their voice-activated assistants in their apps. This has an estimated reduced time to solve customer queries by at least 40 seconds.

In addition to these, banks have successfully implemented the automated processing of account opening and KYC. They have also employed intelligent tracking of transactions to detect fraud and money laundering and have also included algorithms that ensure that they are up to date with regulations.

Tags: AutomationBankFinancialRPA
Next Post

Third Annual Global RPA Industry Report Paints an Optimistic Picture for RPA, and the Companies That Have Adapted and Will Adapt to Intelligent Automation

    Interested in learning what Automation Solutions can do for your organization?

    We're here to help.

    Subscribe.

    Join askRPA’s weekly Automation Newsletter direct to your Inbox, Sign up now.

    Recommended.

    How does the Entertainment Industry leverage Automation?

    How does the Entertainment Industry leverage Automation?

    December 30, 2022
    ChatGPT became the world’s fastest-growing web application by amassing 100 million followers in 2 months

    ChatGPT became the world’s fastest-growing web application by amassing 100 million followers in 2 months

    February 13, 2023
    askRPA

    askRPA is the portal to connect with RPA Geeks and for Latest Automation News, Event and Case Studies etc.

    Follow Us

    Usefull Links

    • About Us
    • Terms and conditions
    • Privacy Policy
    • Contact us

    Tags

    AI Apromore Artificial Intelligence askRPA AT&T Autoamtion News Automation Automation Anywhere automation news Automation Report Automation Technologies Automation Trends BlackRock Bots Celonis Cloud Computing CMO data Digital Transformation Forrester Gartner Gartner Predictions Gartner Report GBTEC Global Market for IA IA IDP Intelligent Automation Intelligent Automation Congress IoT Low-code development Low-code technologies Low Code Marketing NLP Orica Process Mining Robotic Process Automation Roboyo RPA Salesforce Technology News TuringBots Turing Bots UiPath

    Recent News

    Baidu unveils Ernie Bot, its new large language model, but how does it compare to others?

    Baidu unveils Ernie Bot, its new large language model, but how does it compare to others?

    March 24, 2023

    © 2022 askRPA - Connect Discover Automate

    • Home
    • News
    • Case Studies
    • Blogs
    • IA Congress – March 2023 Chennai, India
    • Events
      • Intelligent Automation Congress – March 2023 Chennai, India
      • 6th International Intelligent Automation Congress

    © 2022 askRPA - Connect Discover Automate

    AI Chatbot Avatar