The dream of achieving rapid, large-scale process automation is becoming a reality for some banks. Competitors cannot afford to miss the opportunity to transform their own back-office processes. Banks have enhanced many of their customer-facing, front-end operations with digital solutions. Online banking, for example, offers consumers enormous convenience, and the rise of mobile payments is slowly eliminating the need for cash. But too many processes at banks still rely on people and paper. Often, back offices have thousands of people processing customer requests. This high degree of manual processing is costly and slow, and it can lead to inconsistent results and a high error rate. IT offers solutions that can rescue these back-office procedures from needless expense and errors.
This scenario sounds promising, but achieving it is easier said than done.
This bank then did some due
diligence to determine whether there was a viable business case to automate each process within a
reasonable time frame. It concluded that only half the opportunity (measured by the automation business cases completed on each manual process) could be captured.
Several barriers led to this
conclusion.
This scenario sounds promising, but achieving it is easier said than done.
This bank then did some due
diligence to determine whether there was a viable business case to automate each process within a
reasonable time frame. It concluded that only half the opportunity (measured by the automation business cases completed on each manual process) could be captured.
Several barriers led to this
conclusion.
Greater efficiency, cost reduction and customer experience benefits anticipated as RPA is adopted across additional functional areas in potential annual savings resulting from capacity
gains in the processes selected for the pilot implementation errors for
processes with regulatory components, significantly reducing risk