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Wednesday, November 07, 2018

Process Automation with RPA for Banking

Was just introduced to
    Automation Innovation newsletter from IBM,  See:https://www.ibm.com/automation
    Here is an excerpt from a sample article on RPA in Banking:

How one bank is using RPA to save millions   By Cheryl Wilson

“So far so good. The results we've seen have been pretty positive. We’re aiming, by end of the year, to record about USD 10 million in savings just by automating the processes we’ve identified so far.”  – Luis Benitez, VP, Digital Workplace Strategy, Banco Popular *

When it comes to robotic process automation (RPA), there’s hype around the promise of big, quick, easy ROI. True, there’s been localized success, especially for certain back office processes with lots of repetitive, cut-and-paste-between-systems work. However, with hype comes disappointment. Companies that rushed to install bots, often in isolation, are now rethinking and resetting their approach. They’re taking a more start to finish view of what success really looks like and rethinking what the technology needs to do based on real people doing real work with real outcomes on the line.

With approximately 8,000 employees and 880 branches in Puerto Rico, the US Virgin Islands, New York, Chicago and Florida, Banco Popular seems to have avoided the “love at first sight” RPA pitfalls. These pitfalls include seeing RPA as something more than just the tech tool it is -- a tool that needs to be part of an orchestrated and expertise-supported approach.   ... " 

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