Using innovation to lead, navigate risks and opportunities, and disrupt the status quo
Robotic process automation (RPA) is quickly transforming middle- and back-office operations in financial services institutions. Robots (bots) that are at the heart of RPA have been used in the past to mimic rules-based, process oriented human execution activities (e.g., document gathering, data retrieval, calculations), thereby automating workflow and decision-making for a variety of processes, including loan origination and collections. Recently, however, RPA has been implemented more widely across institutions to help drive efficiency and effectiveness. And the benefits are already apparent. By embracing complexity and leveraging this technology in new ways, financial services companies are accelerating their corporate performance (see Benefits of RPA).