The Financial Services industry is going through a strong transformation and innovation with the creation of new entities, the fast shift to service digitalization, the increasing focus on risks, on regulation and to customer experience.
Intermediaries and new entities that operate in this sector (fintech firms) have 3 main objectives:
- Increase in revenues
- Reduction of costs
- Compliance with regulations
Automation and RPA solutions allow reaching all these objectives efficiently.
What is Robotic Process Automation (RPA)
This is a system of software technologies for productivity that is above the existing systems and executes manual and repetitive processes, based on rules that are traditionally executed by individuals.
- Through the configuration of BOT programmes, it allows the automation of tasks and processes
- It acquires, interprets, processes data through IT systems, without any human actions
- It emulates a person by performing manual and repetitive tasks in existing applications
- It makes decisions based on established rules
- It integrates easily and perfectly with existing applications
Why should you use the RPA
The evolution of the industry leads to a continuous introduction of new applications and management tools that are often not connected with each other, or of systems whose customization is very expensive. This often led to the development of part of the activities “outside” legacy systems, impacting on the correctness of data and on the efficiency of processes.
RPA efficiently addresses these problems, granting fast and significant returns in terms of productivity, quality and costs.
Productivity and efficiency
- It performs the work of 4-6 human workers, being faster by 80%-90%
- It ensures a quicker time-to-market
- It works 24 x 7 x 365
- It does not get sick/does not need holidays/does not resign
Quality
It does not make mistakes (100% compliance)
Costs
- It costs 80% less than a human worker
- It allows saving further costs (staff integration)
- It generates a ROI per year equal to 100%-300%
Scalability
Work can be increased without the need to increase personnel
Our services
You can rely on our dedicated team, on the right skills and on a vertical experience in process automation. We are a global partner of Automation Anywhere – global leader in RPA technologies and Digital Workforce – but we can implement automation solutions using the most common RPA platforms available on the market (e.g., Microsoft Power Automate Desktop).
Identification of target processes
Thanks to our experience and to the analysis of your processes, we can help you identifying the potential target areas, considering elements such as:
- Characteristics of processes and of operating activities
- Operation volumes and other performance indicators
- Number and features of involved resources
- Needs of users and of the business
- Practice and case studies already available
Pilot projects
RPA projects can be easily developed as “pilot projects”, in order to assess the effectiveness and feasibility of solutions before the actual development of a wider project. To this regard, our offer consists in the identification of a first smaller scope of actions, which can be easily implemented, in order to provide a simple, quick and pragmatic understanding of the characteristics, times, costs and benefits of automation through robotics.
Simple implementation and immediate results
RPA solutions allow avoiding expensive interventions on corporate legacy systems by integrating with them so to improve their use.
The development of robotized automations usually requires days or weeks, compared to months needed for the implementation of traditional solutions, especially in case of integration of different systems.
Scope of application and practical cases
There are many practical cases that cover a wide range of areas and services within FSs:
- Customer Service
- Onboarding and client management
- Wealth Management
- Asset Management
- Pension funds
- Reporting
- Credit
- Risk & Compliance
- Finance
- HR
- Administration