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 outcomes.
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 rules 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 your front office, back office and support functions.
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 allows modern banks to meet these demands and achieve significant operational efficiency.
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 stabile
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
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: