ROBOTIC PROCESS AUTOMATION: CHALLENGES AND SOLUTIONS FOR THE BANKING SECTOR
Journal: International Journal of Management (IJM) (Vol.11, No. 12)Publication Date: 2020-12-31
Authors : Prateek Patri;
Page : 322-333
Keywords : Robotic Process Automation; Business Process Automation; Banking Industry; Technology in Banking; Work Flow Digitization; RPA Bots; Business Case; RPA Adoption Challenges.;
Abstract
In order to cater to the growing customer domain with new service conditions such as 24x7 service, fail-safe service, and mobile service, organizations are incorporating more and more technology-based solutions. Robotic Process Automation (RPA) has emerged as one of the key technology strategies for scaling services with robustness and efficiency. RPA is being increasingly used as a tool to automate, scale-up, manage, analyze, and provide superior customer service. This research paper explains the key challenges banks face in the implementation of RPA and proposes suggestions for banks to avoid these challenges in RPA implementation. The issues faced before and post-implementation of RPA have been discussed. How to deal with security issues on the implementation of RPA has also been discussed. An improved RPA has been proposed to how banks can address new challenges such as debit card fraud and showed how automation benefits the banks in terms of improved error rate, processing time, accuracy, and reliability
Other Latest Articles
- VALUATION OF DESIRABLE AFFECTIVE DISPOSITIONS BY PRIMARY TEACHER EDUCATION LEADERS IN AMHARA REGION, ETHIOPIA
- THE ROLE OF RISK BASED INTERNAL AUDIT IN IMPROVING AUDIT QUALITY
- Analyzing Effects Of Climate Variability In The Nexus Of Informal Microfinance Institutions: A Case Study Of Tharaka South Subcounty, Kenya
- MEDIATIZATION OF POLITICS AND IMPACT ON SOCIETY WITH SPECIAL REFERENCE TO POLITICAL DISCOURSE DURING BIHAR GENERAL ASSEMBLY ELECTION 2020
- MEASURING LOGISTICS PERFORMANCE FOR COMPETITIVENESS- A CASE STUDY OF AUTOMOTIVE CONNECTION SYSTEMS COMPANY, KERALA, INDIA
Last modified: 2021-02-26 15:22:12