Leadership

RPA and the Financial World: Automating Efficiency

Robotic process automation, or RPA, is delivering bottom-line business benefits through efficiency, data accuracy and enhanced customer experiences.


Robotic process automation, or RPA, is delivering bottom-line business benefits through efficiency, data accuracy and enhanced customer experiences.

You may not know what RPA is, but you encounter it daily. Robotic process automation (RPA) is software that takes repetitive tasks and performs them automatically. You’re likely experiencing RPA when shopping online, interacting with customer service and engaging in customer reward programs.

RPA also brings time-saving convenience to the workplace. It’s catching on and transforming companies’ bottom lines. At the firm, we’ve harnessed this emerging tech to accelerate how we enter, calculate and continuously monitor key data. From reducing errors to improving the customer experience, we see the far-reaching potential for RPA to benefit companies like yours. Discover how.

 

Making Time More Valuable

Return on investment with RPA is often immediate. Depending on the application, companies can see both substantial cost savings and increased productivity. Automating simple and often tedious tasks frees up employees to focus on more strategic, value-added work. For example, they can offer more personalized customer service or create business plans that fuel your company’s success. Time spent on more meaningful jobs also often leads to happier, more dedicated employees.

RPA saves your employees time by significantly reducing data-processing errors. Bots are able to accurately perform basic calculations, reconcile data and upload information from websites and apps. That kind of accuracy and efficiency is why we apply RPA technology to many of the financial solutions we deploy.

 

Solving Puzzling Compliance Issues

Changing privacy regulations and other legal mandates are complicated and difficult to comply with. RPA makes compliance less of a burden. RPA not only reduces the amount of human interaction with sensitive data but continuously monitors and records those activities. That means you have a clear electronic trail—and the ability to instantly pull key reports. No more sleuthing. Digital oversight makes the entire compliance process more transparent, accurate and efficient.

 

Upgrading the Customer Experience

You may think RPA is a barrier to human relationships, but it can actually make your clients’ interactions with you more seamless and personal. For example, when onboarding new clients, RPA quickly integrates customer data throughout your systems. Employees then have all the information they need to help new clients with their unique needs. To maintain positive relationships, our RPA tools efficiently manage client entitlements.

Our RPA tech also enables service on-demand. Combining RPA with machine learning and speech recognition allows virtual assistants and other bots to interact with customers. Of course, as helpful as bots can be in solving common issues, they can’t solve complex problems yet. That still requires excellent customer service providers to ensure clients get exactly what they need.

 

RPA’s Evolution Toward Greater Adoption

Through our Robotics Centre of Excellence, the firm is shaping the future of business by identifying and testing new use cases that might be enhanced by RPA technology. And that’s just the beginning. Through relationships with our bankers, technology experts and clients, we’re applying RPA to solve specific real-world problems that benefit a business’s bottom line.

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