Robotic Process Automation can be game changer for financial sector | The Daily Star
04:21 PM, September 07, 2020 / LAST MODIFIED: 04:23 PM, September 07, 2020

Robotic Process Automation can be game changer for financial sector

Robotic Process Automation or RPA has emerged as the starting point for digital transformation in the financial sector as well as other sectors.

eGeneration, a leading local software company, and UiPath, the world's number one RPA/hyperautomation platform, jointly organised a webinar titled "Reimagine Financial Sector with Robotic Process Automation" in partnership with The Daily Star and Daily Samakal on Saturday.

As stated by UiPath, 75 percent increase in productivity can be achieved through automation by removing the burden of monotonous and time-consuming tasks. Banks and NBFIs seek to optimise credit decisions, improve financial risk management and enhance customer experience, therefore, introducing automation will prove to be a vital solution to cater to all these aspects, a press release said.

Shameem Ahsan, chairman of eGeneration and Nitin Purwar, senior functional architect of UiPath, delivered their keynote presentations.

Shameem said, "Robotic Process Automation can automate work that is tedious like performing repetitive tasks in offices and eventually it will give us time for what makes us human."

"Time for what computers cannot do: empathy and creativity. To make the most of this opportunity, an organisation needs to adopt an "automation first" mindset from top to bottom," Shameem added.

Nitin said, "Banks should prioritise providing exceptional customer service not just during the on-boarding stage, but throughout a customer's journey. I think it is becoming imperative for some of the larger banks and established banks to make sure that their digitisation strategy is on par with the new and upcoming banks."

"Previously, banks would shy away to scale their journey regarding automation, but now there is an increase in adaptation of automation as well as scaling of automation as the robust benefits of RPA are becoming more popular," he said.

Emran Abdullah, director, Operations and Sales of eGeneration, said, "The automation first era is here, and eGeneration in partnership with UiPath can help companies position themselves to succeed and thrive in this exciting time of technological innovation and disruption."

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