RPA IN ACTION IN THE FINANCIAL SECTOR
CIO Review|April 2021
A renowned professional in artificial intelligence, investment banking, managing consulting and profitability delivery, in the industry for 20+ years and consultations for 10+ Fortune 500 organizations.
Pavan Kishore Kota Subramanya
RPA IN ACTION IN THE FINANCIAL SECTOR

Robotic Process Automation (RPA) is the automation of everything in a process lifecycle, which encompasses bringing in inputs, undertaking processing, and generating required outputs. RPA is today no more the new kid on the block. As per Gartner, global RPA software revenue is projected to reach $1.89 billion in 2021.

Typically, to fulfill a process, there are two activities: 1) Rule-based processing requires a set of rules to be followed to make a decision. To cite an example: if a credit card dispute is less than or equal to $3, you approve it without any further check, as the cost of analysis is more than $3. 2) Cognitive processing requires human judgment using many inputs and complex analysis techniques. To cite an example: marking a credit card dispute as a fraud based on location, IP Address, previous transactions, and other relevant parameters.

100% of rule-based processing can be automated today using RPA. Cognitive processing is facilitated using Machine Learning (ML), and today RPA tools can integrate with ML pipelines to enable cognitive processing. Once a process is fully or partially automated, one or more bots can run the process, depending on the transaction volume at hand. Bots are your new team members and perform tasks based on how they are automated.

RPA can be undertaken at individual desktops/laptops or using server-based software with more robust controls. When done at a desktop/laptop it is generally called Robotic Desktop Automation (RDA). RDA is a great place to start the automation, as it is extremely cost-effective and typically has very good automation features.

Diese Geschichte stammt aus der April 2021-Ausgabe von CIO Review.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

Diese Geschichte stammt aus der April 2021-Ausgabe von CIO Review.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

WEITERE ARTIKEL AUS CIO REVIEWAlle anzeigen
Cognitive Fashion Design Using AI And Automation
CIO Review

Cognitive Fashion Design Using AI And Automation

Fashion Industry is one of the top contributors to Global GDP and amongst the highest employment generator.

time-read
4 Minuten  |
March 2021
Blockchain-Based Cybersecurity For IoT
CIO Review

Blockchain-Based Cybersecurity For IoT

Arumani Subramanian completed AI/ML Information Technology from IIIT Hyderabad and Bachelor of Technology in Computer Science from Pondicherry Engineering College. His keen interest circles around making business profitable by digital innovations, and mapping digital pathway. He is an expert of Blockchain, RPA with right use cases and leads a team of architects and solutions team.

time-read
3 Minuten  |
April 2021
Artificial Intelligence & The Disruptive Chatbot
CIO Review

Artificial Intelligence & The Disruptive Chatbot

Chatbot Technology has always been a game changer whether it’s content, data or e-commerce - businesses underwent change to survive due to the changing consumer perception, business value and convenience.

time-read
3 Minuten  |
March 2021
How Financial Services Companies Are Striving Through The Data Age
CIO Review

How Financial Services Companies Are Striving Through The Data Age

With experience in account management, corporate account management, and regional sales direct, he is leading the firm.

time-read
3 Minuten  |
April 2021
RPA IN ACTION IN THE FINANCIAL SECTOR
CIO Review

RPA IN ACTION IN THE FINANCIAL SECTOR

A renowned professional in artificial intelligence, investment banking, managing consulting and profitability delivery, in the industry for 20+ years and consultations for 10+ Fortune 500 organizations.

time-read
4 Minuten  |
April 2021
PayNearby
CIO Review

PayNearby

DETERMINED TO CREATE A DIGITALLY FORWARD AND FINANCIALLY INCLUSIVE NATION

time-read
2 Minuten  |
April 2021
A SNEAK PEAK ON – BLOCKCHAIN TECHNOLOGY
CIO Review

A SNEAK PEAK ON – BLOCKCHAIN TECHNOLOGY

Let’s begin this conversation by focusing on the fundamental aspect, i.e. by ‘Defining Blockchain.’

time-read
2 Minuten  |
April 2021
Impact Of Algorithms On Society
CIO Review

Impact Of Algorithms On Society

A common dystopian science fiction future is where the robots take over the world.

time-read
4 Minuten  |
March 2021
MULTIPLYING OPPORTUNITIES IN BIG DATA ANALYTICS
CIO Review

MULTIPLYING OPPORTUNITIES IN BIG DATA ANALYTICS

The advent of modern computer networks and the democratization of information has exponentially multiplied the amount of digital data being generated.

time-read
2 Minuten  |
March 2021
OMDENA
CIO Review

OMDENA

INTRODUCING NEW FRONTIERS OF PROBLEM SOLVING WITH AI

time-read
2 Minuten  |
March 2021