Examples and use cases of robotic process automation (RPA) in banking (OVCHY, SMFG, MU7)

This is a preview of Business Insider Intelligence's brand new Banking coverage. Business Insider Intelligence offers even more insights like this with our Banking coverage. Subscribe today to receive industry-changing banking news and analysis to your inbox. Robotic process automation (RPA) has been adopted across various industries to ease employee workloads while cutting costs – and banking is no exception. From taking over monotonous data-entry, to answering simple customer service queries, RPA has been able to save financial workers from spending time on repetitive, labor-intensive tasks.

What is robotic process automation (RPA) in banking?

RPA combines robotic automation with artificial intelligence (AI) to automate human activities  for banking, this could include data entry or basic customer service communication. RPA has revolutionized the banking industry by enabling banks to complete back-end tasks more accurately and efficiently without completely overhauling existing operating systems. 

Banks that utilize RPA have given employees back time to spend on more complex tasks while artificial intelligence technology handles back-end operations. See the rest of the story at Business Insider

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