Robotic - Process Automation For The Financial Industry

We have seen it in movies, we have read fantastical futuristic fiction about it, and now it is upon us: Robots performing human tasks.

The future posed by film creators and novelists is still a bit further away, but the technological advancements that could make it possible are coming. We have already seen robots in factories for years, mimicking human arms and legs, but now we are on the verge of seeing robots that replicate the human brain. Just like their physical cousins transformed manufacturing, these "virtual" robots are likely to change the way we run our business processes. Robot-led automation has the potential to change today's workplace as dramatically as the machines of the Industrial Revolution changed the factory floor.

Executive Summary

Why automate?

Organizations—financial industry players in particular—are facing significant internal challenges and external industry and consumer changes. To survive, they must focus their efforts on creating value for their customer; focusing very often means investing. They have no choice but to optimize their cost side and hunt for any efficiency waste. Financial institutions must take at least three dimensions into account that have an impact on their business:

The economic dimension: Client expectations are more demanding while the competition is...