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Robotic Process Automation in Financial Services Report Q3 2023
86 Pages
A foundational branch of artificial intelligence, robotic process automation refers to the rule-based automation of repetitive human tasks, to drive higher efficiency, better risk control and cost management. Key focus areas include automated threat intelligence, fraud analysis and quality assurance, predictive analytics, voice recognition and automated responses.
This report uncovers the RPA market landscape, discussing the different sub-types of RPA technology, its key components, the vendor landscape, along with implementation challenges and eventual impact on growth. IBSi also defines an implementation strategy to avoid pitfalls and ensure success in deployment.
- RPA bots are typically of three types: Attended, Unattended, and Hybrid.
- Vendors can be broadly categorised into First Movers, Incumbents, Challengers, and Business Process Outsourcing companies, on the basis of maturity in the market.
- RPA implementations may fail due to inadequate due diligence. Other pitfalls could be organisational, process-oriented, technical, or due to poor post-implementation procedures.
- IBSi proposes a five-step implementation process, in the order of Gather, Analyse, Design, Execute, Improvise.
- Traditional RPA is moving towards Smart Process Automation, which combines RPA’s rule-based methodology with artificial intelligence.
- Gain a complete understanding of RPA technology and its market landscape, including types, components, challenges, and benefits.
- Deep dive into 10+ leading RPA vendors, along with relevant case studies and customer lists.
- Access to IBSi’s specialised implementation strategy.
- Insight into the future of Smart Process Automation, the cross-function between AI and RPA.
- Keep up with current trends in the RPA industry
- Financial Institutions – CIOs, CTOs, IT, and digital transformation teams rely on our research to make the right technology selection and investment decisions
- Financial Technology Companies – Founders, CXOs, product and strategy teams, use our research to stay competitively intelligent, keeping a close track of peer activity and trends globally
- Consulting Firms – Research leaders and client consulting teams find this report useful to gain insights, spot opportunities, and provide clients with fact-based metrics
- Institutional Investors – Investment teams find this report useful whilst conducting thorough business and financial due diligence prior to making investment decisions
Section 1: RPA in Financial Services | Market Landscape
- Introduction to RPA
- Components of RPA
- Types of RPA
- Attended Automation
- Unattended Automation
- Hybrid Automation
- Challenges in RPA Implementation
- Organizational Pitfalls
- Process Pitfalls
- Technical Pitfalls
- Post-Implementation Pitfalls
- Benefits of RPA Implementation
- Strategic Growth
- Increased Operational Efficiency
- Cost-Effectiveness
- Audit Trail
- Current Trends in RPA
Section 2: Implementing RPA
- Gather
- Analyze
- Design
- Execute
- Improvise
Section 3: Vendor Landscape
- RPA Supplier Profiles
- Automation Anywhere
- Blue Prism
- Customer XPS
- Datamatics
- Edgeverve Assistedge
- EPIKInDiFi
- UiPath
- Expleo Solutions Ltd
- Kofax
- Kyron
- Pegasystems
- WorkFusion
- Tenjin by Yethi
Section 4: Future of RPA in Financial Services
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