RPA bots are comprehensive solution to report automation
Banks, being public companies, are required to release a report to the stakeholders showing the performance of the company during different periods. As Reports indicate the face of the bank, there is no scope for error in making such reports. Robots can store multiple formats and keep filling the data as and when available. Instead of a team of a manual force preparing a report once in a while, a bot can update the report daily making it transparent and accessible at any point in time.
For example, a customer-centric report highlighting the existing number of customers, total investments made, the total loan is taken, the interest rate received by the customers, types of customers, and their frequency in transacting with the bank can be updated daily in fixed report format by the bot. Anytime, a bank wants to launch a new scheme for the customers, it can check this report which will help the bank identify the recent and current trend-setting up with their customers.
Similarly, the stakeholders can understand the financial health of the bank throughout the year as opposed to the annual measurement done previously. This will help the banks keep neck-to-neck competitions with their competitors as well.