The RPA gives your business the versatility and scalability expected to perform, continue, and sustain on top of your game. In this ppt we have discussed few reasons to use RPA in finance and accounting.

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Top Reasons to
Use RPA in Financial Services

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The RPA gives your business the versatility and scalability
expected to perform, continue, and sustain on top of your
game. Here are few reasons to use RPA in finance and
accounting.
• Reduce the Cost
• Streamline the Card Activation
• Making sure of the consistency between treasury systems and bank systems
• Increase Productivity
• Account Reconciliation
• Promote Better Investment Options
• Better Fraud Detection
Reasons to Use RPA in Financial Services

3. 3
Reduce the Cost
• It has been studied and estimated that with the use of RPA, the
operational cost at finance and banking industries cuts up to 25-
50%.

4. 4
Streamline the Card Activation
• Customer card activation involves operations like keeping the
data consistent, checking over the compliance rules, manual
entering of the data, keeping coordination between the
departments, and so on. These tasks are redundant and boring
and are prone to human error. Automation has made the
streamline of the card activation easy.

5. 5
Consistency Between Treasury Systems and Bank Systems
• It is important that the balances of the bank account be fed into
the treasury systems. But in order to do it, it is essential to find a
language that can be understood by both systems. One of the
significant reasons for using the RPA in finance is that it is
competent to format bank data so that it is easy for the treasury
system to get a sense of it in order to generate reports. Robotic
Process Automation can circulate the reports of the treasury
system amongst the employees and contribute to coordinate
between the balances and employees.

6. 6
Increase Productivity
• Robots can function at any time of the day. That means the work
doesn’t end for them. They can operate scheduled 24*7 and can
complete the assigned tasks overnight.

7. 7
Account Reconciliation
• Closing financial accounts is a strenuous activity. It requires a lot of
careful attention, detailing, data extraction, and more. RPA in
accounting takes care of the process after you match the data
against the accounts.
• RPA bots find the discrepancies in the system based on the specific
parameters you have set. It will help to reconcile the accounts and
manage the transactions without any harm to the relationship with
the clients.
Source: https://datafloq.com/read/how-rpa-financial-services-
transforming-industry/15594

8. 8
Promote Better Investment Options
• Robots can serve as a financial advisors as well without the
restrictive expenses of their human partners. Such robotic
software is better at tracking investment values. This robotic
software has the competency to assess the portfolio of an
investor and minimize the investment risk.

9. 9
Better Fraud Detection
• Mortgage processing and the frauds that come with it makes
it a difficult job for anyone doing it or launching a business
like this. However, the advent of RPA has made it easy for
mortgage lenders to reduce losses and fraud like this. The
mortgage services can now use LOS (Loss Origination
Systems) that employs predictive analysis to help lenders
analyze the risk associated with a particular loan transaction.

10. 10
Conclusion
• RPA in finance and banking is beneficial in several ways from
increased productivity to giving accurate output without any errors
that a human can make.
• If you need any help implementing RPA in financial services. Please
contact us and find out how we can help you!

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For further details please contact with our RPA Team
THANK YOU
www.aapnainfotech.com