PUBLISHED: 10 FEBRUARY 2020
Author: KAE & FINTECH Circle
Automation is increasingly visible in aspects of financial services firms. The deployment of robotic process automation (RPA) has a number of advantages.
RPA reduces the time spent on administrative and transactional activities, allowing workforces to dedicate more time to other more valuable tasks. As RPA is mostly process-driven, it is valued for increasing productivity and ensuring that tasks are completed accurately. RPA will carry out rules-based activities based on set criteria however will not be able to ascertain whether the results of its actions are good or bad. As a result, RPA deployment, and by extension wider automation, is not guaranteed to succeed without prior knowledge of where problems and inefficiencies lie. Nevertheless, the data that RPA collects can provide the basis for a more intelligent approach via machine learning and AI.
To learn more about RPA and how it can be beneficial for financial services firms check out this short video introduction.
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