Robotic Process Automation Bridge -in Banking Institute and Consumers

Abstract

Technology rooted in every field. Robotic process automation is boon for banking and financial sector. Manual process, in banking sector cannot pace with development. Technology reduces burden of banking system as well as provided convenience to consumers. Despite of standing in queue, consumers not satisfied with banking services. The use of robotic process automation (RPA) to automate, scale-up, manage, analyses, and deliver better customer service is growing. Customer satisfaction is an important facet in banking industry which can be achieved with help of technology intervention. The research describes the main difficulties banks encounter while implementing RPA and offers advice on how to get over them. One of the most cutting-edge technologies in computer science, electronic and communications, mechanical engineering, and information technology is robotic process automation (RPA). Study finds different type of process in banking and financial sector. RPA not only benefit for process in banking sectors but also benefited consumer point of view. Speedy and accurate financial statement within moment can be possible through RPA. RPA reduced human effort in different banking services. Study also revealed about fraudster tool introduced with help of technology. Study emphasize benefit, challenged and recommendation of RPA in banking sector.