RPA in Banks and Credits

Banks need to constantly evolve to keep up with their customers’ expectations, regulatory reforms, and counter competition from other industry players. Banking and other financial organizations are under immense pressure to optimize costs and boost efficiency. The sudden rise in personnel costs, the scarcity of skilled resources, and the need to improve process efficiencies are some of the vital challenges that the banking sector is facing today. Robotic Process Automation (RPA) acts as a powerful tool to meet the needs all these situations with a simple solution.


Sample Process

Customer Service

RPA helps bankers deal with different types of queries, from customer service to loans, accounts, fixed deposit inquiries, or financial frauds. It also reduces the overall time taken to verify the customer details from different systems.

Client Onboarding

RPA assists in reducing the turnaround time needed to onboard any new client by automating the processes that involve KYC checks, credit scoring, etc.

Customer Service

RPA improves communication with the customers by automating both event-based and periodic communications along with transaction alerts.

Transaction Processing

RPA enables banks in handling operational inaccuracies by reviewing, reprocessing, and updating failed transactions precisely and quickly.

Compliance

RPA allows the bank to manage multiple processes across complicated infrastructures and eliminates human errors. This enables the bank to be compliant with the latest standards by keeping detailed logs of automated procedures and generating reports automatically that are required by the auditor.

Credit Card Processing

RPA is used by banks to not only gather credit card documents of the customer and make necessary background checks, but also in taking a decision based on specific parameters on whether the customer is eligible to get a credit card. It then aids in dispatching the cards as well.

Insights

Stand Out From The Crowd With Kubernetes

Over the last few years, we have witnessed a rise in cloud computing, containerization, and container orchestration conversations.

RPA and AI: How do they work…

Over the last few years, Robotic Process Automation…

Call the shots with the Bots

What is the one thing that you hate,…

What is RPA? – How it works…

Robotic Process Automation (RPA), as the name states,…