rpa in financial services - an infographic by rapidvalue
TRANSCRIPT
Robotic Process Automation in Financial ServicesRobotic Process Automation (RPA) has garnered immense popularity in financial services firms. It has become the early champion of the digital labor technology.
Evolution of Digitization
10-20 %
30-50 %
70-80 %
80-90 %
90 %
Touchless TransactionsMany companies are actively considering RPA and AI as the next step in technology.
Industry Experts Opinion
Business Benefits
Boosts productivity with minimal process change.
Brings an easy to calculate ROI.
Fresh alternative to the big spend of typical business process management programs (BPM).
RapidValue is a leading provider of end-to-end mobility, omni-channel, IoT, RPA and cloud solutions to enter-prise worldwide. Armed with a large team of experts in consulting, UX design, application development, testing along with experience delivering global projects, we offer a range of services across various industry verticals. RapidValue delivers its services to the world’s top brands and Fortune 1000 companies and has of-fices in the United States, the United Kingdom and India.
+1 877.643.1850 [email protected] www.rapidvaluesolutions.com
© RapidValue Solutions
Use Cases - Banking
Use Cases - Insurance
Lead Generation Operations
Represents top area to implement RPA
Leslie WillcocksProfessor, London School of Economics
RPA is a promising new development in business automation that offers a potential ROI of 30% – 200% in the first year.
Kevin KroenPartner Financial Services Advisory, PWC
Digital labor is giving financial institutions a once-in-a-generation opportunity to push a next generation discipline around business process e�ciency.
Most of the companies are here
ERP eCommerce Self-Service RPA AI
Operational Accounting
General Accounting
Processing, Reconciliations, Intercompany transactions
Financial and External Reporting
Planning, Budgeting and forecasting
Treasury Process
Digitization of paper mail
Customer Billing
Fraud Detection
Reporting
F&A : Travel & ExpensesProcessing, Accounts Payable
Policy Servicing
Mortgage Servicing
Claims Servicing
Lead Reporting
KYC
Loan / PolicyEligibility Check
Account Opening
Procurement Generate PRs,POs, Invoices, Vendor masster data
20%
15%
25%
40%
Telecom / IT
Others
Manufacturing
BFSI
Top Reasons to Deploy RPA
37%improvement in insurers’
earnings through automation.
21%of companies will realize savings on
administrative compliance costs.
Source: Insurance Times, Intelligent Insurer and Global Data Maker
Robot Off-shoreEmployee
On-shoreEmployee
0
15000
20000
25000
30000
35000
40000
45000
50000
Cost
in U
SD
Cost of Robots vs Human Employees
Radical reduction in cost