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1. How RPA Services Important
in Banking Sector
The BFSI sector has witnessed tremendous
growth in recent years. Despite the pandemic
and shrinking economy, the banking sector
remains strong because of its widespread
adoption of virtual banking and emerging
technologies like Robotic Process
Automation (RPA).
Top Five RPA use cases in banking
Customer Service :
Over 80% of customers who have used chatbots for product inquiries in the
last 12 months wouldn’t want to use them again—and 46% said that they’d
prefer to use branches
1
Compliance :
According to an Accenture survey, 73% of respondents believed that RPA
can be a key enabler in compliance
2
Credit Card Processing :
RPA can bring down the loan and credit card processing duration of
weeks and months to some minutes by bringing automation.
3
Know Your Customers (KYC) :
As per the Thomson Reuter report, few banks spend at least USD 500 million
every year on KYC
4
Automated Reporting :
Institutions can utilize RPA to replace human works associated with report
generation, including data gathering from internal and external systems
5
RPA in banking sector is expected to reach $1.12 billion by 2025.

2. https://automationedge.com/blogs/robotic-process-automation-rpa-in-banking-industry/
Source:
Benefits of RPA in Banking
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