The main functions of the RPA tools are to interact with other systems through the method of screen scraping, it is able to make decisions and have an interface to automatically run a program.
Banking industry deals with a number of queries, some of them are cheque payment, enquiry on the savings account, debit and credit card statements, loan facilities and so forth.
For years this industry has provided the best services to their customers, but with the increase in the number of customers, it has become very difficult for the staff to handle each and every query at a very short period of time.
This is where Robotic Process Automation in banking sector comes handy, RPA helps to quickly settle low priority queries and provides sufficient time to the bank staff to concentrate on high priority queries.
Once the compliance data is programmed in the software, Robotic Process Automation automatically adheres to the rules and reduces the compliance risks.
How this works is - Once the documents are submitted by the customers, the software takes just a few hours to do a complete background check on the credit standing of the customer, then it validates the documents and takes decisive action on whether the credit card can be issued or rejected.
As much as we may think that the innovations that the robotic process automation companies are making are en route to replace humans, it is simply aiding humans do more more with less fatigue and errors and in a lesser amount of time.
RPA tools do work on a fixed set of rules that necessitate no human intervention, the truth is that not 100% process can be automated.
For applying the brain and making critical decisions, and to even run these tools, humans are the ones that will always be needs.
Processes like meetings, emails, report generation, customer query responses, reminders, calendar schedules, database management, managing human resource recruitment, and so much more is what RPA is doing.
That is what the future of an enterprise workplace looks with robotic process automation tools.
Evident Benefits that Workplaces will Reap
