Robotics Process Automation for Banking, Financial Services and Insurance (BFSI) Industry

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Datamatics Global Services Ltd. Robotics Process Automation (RPA)

Transcript of Robotics Process Automation for Banking, Financial Services and Insurance (BFSI) Industry

Page 1: Robotics Process Automation for Banking, Financial Services and Insurance (BFSI) Industry

Datamatics Global Services Ltd.Robotics Process Automation (RPA)

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Agenda

•Current RPA Scenario

•Impact on Financial Industry

•Challenges in RPA Adoption

•Robotics v/s Automation

•Leverage RPA for transformation of financial processes – BFSI Adoption

•Key Drivers & Benefits

•Recommended Approach to Robotic Process Automation

•Future Trends

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Current RPA Scenario

Source: Everest Group - RPA : technology vendor state of the Market Report 2017*

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Impact on Financial Industry

High High GrowthGrowth

Minimize Minimize CostCost

Impact On Impact On Bottom LineBottom Line

Reducing Reducing Operational and Operational and Technology RiskTechnology Risk

Growth with a CAGR of 75% during 2015-2020

Newer methods to lower costs and improve profitability

Enhancing their quality of services, empowering their transformation agility while also, reducing their operational costs

RPA “talks” with existing infrastructure ensuring enterprise-level collaboration.

Impact

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RPA Adoption in BFSI

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• Fast Recovery

• Resilience Strategies

• Anti-Money Laundering

• Zero Fault Tolerance

REGULATORY ANDCOMPLIANCE

FINANCIAL RISK MANAGEMENT

CYBER RISK AND RESILIENCE

SOURCING AND PROCUREMENT

FINANCE AND ACCOUNTING

• Credit and Market Risk Exposure

• Operational and Transactional Risk

• Data Quality Control

• Governance

• Compliance Risk assessment

• Detailed Auditing and Reporting

• Procure-to-Pay

• Contract Management

• Supplier Management

• Spend Analysis

• Order-to-Cash

• P&L Reporting and Analysis

• Accounts Payable, Account Receivable

• Treasury Management

• Internal Controls

• Record to Report

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Challenges in RPA implementation

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RPA Myths

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Robotics V/S Automation

• RPA improves performance with minimal or no process change

• Robotics brings an easy-to-calculate ROI

• Automation needs higher revenue spend and takes longer implementation cycle

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Leverage RPA for transformation of financial processes – BFSI Adoption

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Customer on-boarding

and preparing Data for Account

Opening or Service

Requests

Claims Processing,

predominantly from

Customer-Facing

Scenarios

Customer Servicing & Compliant handling

Regulatory Compliance Reporting

Global Trade Finance

Documents

Forex and Treasury

Operations

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Key Drivers & Benefits of using RPA

SEAMLESS INTEGRATION

FRAUD PREVENTION

TAPPING INTO NEW OPPORTUNITIES

REVENUE INCREASE

REGULATORY COMPLIANCE

TRANSFORMATION

TRANSPARENCY

NON-INVASIVEDIGITAL WORKFORCE (24x7 Availability)

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Recommended Approach to RPA provider selection

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Future Trends

News

Transactions/Records

Email

Social Media

Documents/Data

SMSAudio Video

Lexicon™Context Analysis

Synapsis™Pattern

Detection

Artificial Intelligence

Platform Insights

Human-DataInterface

Robot

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