As you know, Robotic Process Automation is a technology where machines are capable of doing complex and repeatable task in huge volume without human support. The key element behind robotics is Artificial Intelligence(AI) which enables machine to think and act logically. Simply, we can say, AI act as brain while RPA function as eyes and hands. Well, RPA is a game changer as well as future of technology. It does have the ability to learn, recognize voice, visualize images and most importantly decision making capability. The unique feature of RPA is the flexibility as well as scalability, which enable them to adapt quickly.

1. Robotic Process Automation in
Banking Sector

2. About Robotic Process Automation
As you know, Robotic Process Automation is a technology where machines are capable of
doing complex and repeatable task in huge volume without human support. The key element
behind robotics is Artificial Intelligence(AI) which enables machine to think and act logically.
Simply, we can say, AI act as brain while RPA function as eyes and hands.
Well, RPA is a game changer as well as future of technology. It does have the ability to learn,
recognize voice, visualize images and most importantly decision making capability. The
unique feature of RPA is the flexibility as well as scalability, which enable them to adapt
quickly.

3. Robotic Process Automation in Banking Sector
In order to remain stable in competitive world, banks have to find a better way to deliver the
best user experience to their customers. For that, RPA is introduced in banking. It has
become a powerful and effective tool to utilize maximum efficiency and to reduce overall
cost while maintaining maximum security.
RPA is becoming smarter, faster and cheaper and more cognitive-enabled which replicates
human skills and intelligence. Hence they can bring unique operational efficiencies to the
financial services industry.
In banking, Humanoid robots are used especially for customer relationship purpose which
brings a fun and amazing experience for clients. Some low integrated robots are used as chat-
box, which are able to clear queries and communicate with clients through text.

4. For instance, Bank of Tokyo- Mitsubishi UFJ (MUFG) introduced Nao and SoftBank also developed
Pepper, which is being used by Mizuho Financial Group and Emirates NBD as chatbots.
Some of the unique features of RPA which helps banking industry are increased efficiency, eliminating
mistakes, handling multi task programs, working 24*7 days,
Performing repeatable process with fast delivery, Handling complex and large volume of task, reducing
cost and time saving, capability of multi lingual language. Another feature is that rpa works on following
rules and procedure hence it brings discipline and transparency.
Robotic Process Automation is a virtual worker which allows employees to configure software to capture
and interpret existing applications to process transactions, trigger responses, communicate with other
digital systems and manipulate data. Hence it requires a large amount of information and uses algorithm
to detect patterns and to make decisions.

5. Like any other financial organization, banking also relied upon documents and papers to work
effectively. So, by implementing RPA, it helps to reduce workload to a certain extend by processing
repetitive document rapidly.
RPA can able to Perform the whole life cycle of banking customer from the initial stage of opening
account to processing and final closing stage of account management, which includes filling
application form, securing transaction, withdrawal and loan documents, processing request and
fetching data, communicating with clients and guiding customer, tracking the process and
retrieving confidential data. Thus RPA performs a key role in banking and financial industry.
Today’s banking system face huge pressure owing to increasing demand to maintain the operations
efficiently while delivering unique user interface experience to clients. So RPA makes it possible to
achieve these goals.
Did you know, most of the banking system and other financial organization are located in chennai.
So learning RPA training in Chennai could give you an opportunity to work in leading financial
sector.