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© 2019 Bernard Marr, Bernard Marr & Co. All rights reserved
Robotic Process Automation (RPA)
RPA, through customer service chatbots helps banks deal with the low-priority
queries from customers such as account and payment questions to free up
human customer agents to deal with the high-priority concerns. In insurance
companies, RPA is used to automate parts of the claims-handling processes.
Another way RPA influences financial institutions is to help ensure compliance in
the highly regulated industry. Today, thanks to RPA, customers can get a
decision on their credit card application within a few hours but sometimes
almost immediately after they submit the information. It’s also optimizing
mortgage processing.

Published in: Economy & Finance
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