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Robotic Process Automation

The future of technology in financial services

Overview

New and emerging technology, such as robotic process automation, cognitive computing and the Internet of Things (IoT) will profoundly impact and transform the workforce of the future across the financial sector.

Robotics Process Automation (RPA) is providing digital speed to market and cost take outs for financial institutions, but the successful financial institutions of tomorrow will be those who embrace the next wave of robotics technology and future technology to drive business outcome.

What is Robotic Process Automation?

As the push to go increasingly digital and do more with available resources intensifies, the need for companies to empower their workers through technology increases. RPA is at the forefront of human-computer technology and provides players in the financial services industry with a virtual workforce that is ruled based and is set up to connect with your company’s systems in the same way as your existing users. With robotics, you automate and build an automation platform for you front office, back office and support functions.

In this video you will see that Robotic Process Automation is more than a trend, it is a different way to think about business processes and how they are solutioned, delivered and managed, resulting in reduced cost, improved delivery and consistent quality.

Benefits of Robotics in Financial Services

Banks, insurers, pension funds and other financial services institutions operate in a highly regulated industry and are faced with high demands for auditability, security, data quality and operational resilience. Robotic process automation allow modern banks to meet these demands and achieve significant operational efficiency.

The benefits of robotics are:

WHAT PROCESSES ARE RELEVANT FOR ROBOTIC PROCESS AUTOMATION

Robotic Process Automation Checklist

To identify processes that are suitable for robotic process automation you can use this check list.

The process should be rule based and not depend on human judgement

The process should be initiated by a digital trigger and be supported by digital data

The process should be functioning and stable

The bigger the volume of executions of the process the better

For a Proof of Concept project, it is key that the process leverages the key systems of the company

Key facts about Robotic Process Automation

Robotics technology is quickly being adopted across financial services industries. Here are some frequently asked questions and answers about the technology.



Getting started with Robotic Process Automation

Combining Accenture’s comprehensive knowledge and experience from the financial service institutions with robotic process automation expertise, we help our financial services clients to identify areas relevant for robotic process automation and implement tailor made solutions with a quick turnaround.

A robot acts like a person - like a new employee, and with a modest set up of the robotics software on any computer with access to your systems, the robot can start working on the processed identified and mapped out for it, allowing you to get started with your robotics very quickly.

The high-level steps for getting started with robotics are: