In the current era, banks, insurers, intermediaries, and agencies are increasingly confronted with dynamic environments. Meeting new laws and regulations in a timely manner, keeping pace with industry benchmarks, and catering to customers with a growing demand for personalized attention pose challenges. Deploying software robots can make a difference here. RPA can automate time-consuming business processes, thus assisting financial institutions in ensuring continuity amid changing times.
The benefits of RPA within financial institutions
Improved data quality
Faster customer service
Cost savings
Insight into customer needs
Timely compliance with new legislation and standards
Continuity during peak periods
Software robot vs. Administrative employee
I hear you wondering, what is RPA? This abbreviation stands for Robotic Process Automation, a technology used to simulate keyboard and mouse actions. This allows repetitive, manual, and often administrative tasks to be automated, carried out by a software robot, also known as a digital employee.
- Immediately deployable
- 168 hours per week
- 100% productive
- Cost approximately €3 per hour
- Error-free
- Always available
- Recruitment & onboarding
- 40 hours per week
- 80% productive
- Cost approximately €40 per hour
- Makes mistakes
- Leave and sickness
Which processes can you automate with RPA?
The most suitable processes are repetitive, manual, and involve a high volume of transactions. Often, multiple applications are used to execute one process. This is where RPA shines the most.
✅ Policy changes (roydata, cancellations, change of address)
✅ Opening and filling out claims files
✅ Know Your Customer, including UBO checks
✅ Payouts for hull damages
✅ Processing incoming emails
✅ Retrieval and booking of bank transactions
✅ Processing renewals
✅ Current account management
✅ Accounts receivable management
These financial institutions have gone before you:
We can really tell you all about who we are, how we work, and what’s possible with RPA and AI. Get in touch with us to learn more about these projects.
Interested in learning more about the deployment of Software Robots in your organization?
We’ve deployed software robots (RPA) at multiple financial institutions to automate repetitive, manual processes. Curious about which processes we can automate in your department? Then get in touch with Ilias Bouhannouche.