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The Back Office Disrupted: How Robotics and AI is transforming Operations within financial services

Jun 12. 2017

The most widely used robotics/AI solution in back-office is robotic process automation (RPA). RPA is in its20170612en_RPAblog simplest form a software robot that can precisely replicate workflows in their entirety once they have been programmed to sequentially perform the workflows’ constituent steps.

RPA offers the following advantages:
• It operates applications like Excel and data input systems
• Enables FI’s to upgrade operating efficiency while continuing to use legacy systems
• Has much lower upfront costs and shorter implementation timelines than conventional automation projects involving system developments
• Unlike humans, do not make simple operating errors
• Enables centralized, real-time monitoring of robots’ process controls

While RPA is useful, there are still some technical limitations.

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