Software Robots in Financial Services
Robotic process automation (RPA) has rapidly become a new hot topic and many of the large players in the financial services sector are either assessing the possibilities or already benefitting from this new solution with their first implementations.
Best RPA Tools for Financial Services are:
1. Pega: This system helps businesses understand which processes can be automated and how these automation can increase a business’s ability to be flexible, scale, and grow.
2. UiPath: This resource is great across many different industries and has been effective in many different businesses, helping them incorporate RPA into their business model.
3. Appian: This is an entire business platform to help organizations understand how to make their processes faster and more effective, as well as more highly integrated. Businesses have found that this tool is seamless enough to help them start making changes right away.
4. Blue Prism: Blue Prism provides a new generation of operational agility software. Utilising the latest technology, Blue Prism helps organisations like Barclays, npower. The Co-operative Financial Services and Shop Direct manage complex business processes, linking people and systems seamlessly and effortlessly to target changing business goals.
Benefits of Using RPA Tool:
- Improve innovation, agility and scalability
- Decrease IT operating costs and increase revenue
- Fast payback and a high speed to value
- Free up staff to do much higher value work
- Increase quality and compliance
- Increase revenue
Statistics:
According to a report, the global IT Robotic Process Automation market is expected to grow at CAGR of 60.5% from 2014 to 2020. The banking and finance sector has been forecasted to be the fastest industry to adapt RPA. According to a report, the sector is expected to grow at CAGR of over 65% from 2016 to 2024.
