Role of AI and RPA in Transforming Banking Operations

Role of AI and RPA in Transforming Banking Operations

Traditional bankers are struggling to fill the increasing gap in customer expectation management as Fintech firms and emerging technologies dominate the current banking ecosystem. For banks, a big hurdle is the inability to achieve operational efficiencies in their back-end processes which in turn inhibit the level of front-end system enhancements.

RPA and AI are rising to the occasion with non-intrusive methods, and without compromising on efficiency and accuracy:

  • RPA helps banks achieve automation without the need for complex system integration.
  • 24/7 bots can operate continuously helping banks with productivity gains of 35-50%-compounded across thousands of transactions.
  • An RPA tool can be deployed within 2 to 6 months depending on the complexity of the process.
  • AI-based systems can detect money laundering patterns on a real-time basis.
  • AI-enabled Chatbots excel at collecting customer data allowing to provide a personalized experience

Read this whitepaper from IBS Intelligence and Hexaware to explore how RPA and AI powered cognitive technologies are transforming the banking business industry.

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