RPA: Reinventing BFSI Operations – Business Continuity in the New Norm
With the onslaught of fintech, surviving in the new norm requires banks to rethink strategies and priorities. Risk mitigation and resilience against business disruptions have become the need of the hour. But in order to effectively meet customer expectations on real-time transactional capabilities, auditability and governance, true transformation requires not only business but workforce transformation.
As financial services continue to evolve, transformation needs to become a priority in the new normal. Slower GDP growth is driving banks to reinvent for the future, with many Asian banks successfully reducing operating costs by 30 to 40% through digitisation, advanced data analytics, robotics and more.
At the same time, the Monetary Authority of Singapore (MAS) is targeting a 2.4% productivity growth per annum and plans to create 4,000 jobs each year, thousands of these in FinTech, calling for the financial services sector to leverage technology for an increasingly data-driven and technologically-mediated era.
- How can businesses save up to 70% in processing cost and customer delivery time?
- How can error rates be eliminated by removing manual processing?
- Can businesses speed up decision making with error-free reporting and real-time data access?