Investments are quite substantial and increasing by 48% each year.
#Project 3.1.1 history of automation manual#
There are at least four milestones in the history of automation in the banking industry which helped to significantly raise customer satisfaction, reduce manual labor and lower operating costs. It’s important to keep in mind that for banks, digitalization is not an innovative process by itself. A brief history of automation in the banking industry It allows banks to offer new opportunities and experiences for customers, as well as helping them enter and grow in new markets, which, traditionally, has been challenging. What is automation in banking?Īutomation in banking is adopting artificial intelligence (AI) and robotic process automation (RPA) into banking business processes, not just to stay competitive and increase efficiency, but also to reduce non-core resources and achieve operational agility. What might we expect from automation in banking in the future? To begin, let’s be clear about the definition. Automation in banking has a rich history and is on the way to a bright future. Intelligent Automation is a hot topic in the banking sector and is considered by many to be a transformative technology for the industry.