Robotic process automation (RPA) or “Automation” describes logic driven robots that execute pre-programmed rules on mostly structured and some unstructured data.
At digital labor’s highest end, robots can learn from prior decisions and data patterns to make decisions by themselves. More sophisticated tools take more effort to deploy and maintain, so you should choose the method that’s the best fit for what you’re trying to do.
The concepts have been around for nearly a decade, and they’ve advanced quickly. In financial services, insurance carriers have used RPA in claims processing for quite a while. Capital markets firms are now turning to Automation to reduce costs, provide better service, and even make complex regulatory implementations work more efficiently.
For financial institutions in a challenging market, this is quite appealing: use automation in repetitive, business rule driven work to rapidly reduce costs, improve controls, quality and scalability, and operate 24/7.
Research and Knowledge Services
PwC Advisory Capital Markets Manager, Andrew Lane, demonstrates the benefits of Robotics Process Automation (RPA)
PwC's FTO Senior Associate. Maria Handoko, walks us through an RPA practical application.
Who minds the robots? Financial services and the need to control RPA risks
As RPA gains momentum, financial institutions need to implement a strong control framework to address potential risks.
Payback time: Improving ROI from digital labor in financial services
Will digital labor get you the savings you expect? Not without a realistic business case.
From theory to practice: Onboarding digital labor in financial services
Why hasn’t there been more widespread adoption of digital labor? The answers have little to do with the technology.
Organize your future with robotic process automation
What does robotic process automation mean for financial services?
Q&A: How can RPA and other digital labor help capital markets firms?
The impact of Robotic Process Automation on a company’s operations and competitive positioning is significant on a number of fronts: economic value, workforce advantages, quality and control improvements, and flexible execution.