With so much money involved, every Banking organization has to strictly adhere to compliance for the smooth functioning of everyday transactions. With a report generated by Accenture, 73% of the compliance officers trusted Automation tools to improve Compliance activities in the next three years.
With RPA Solutions, compliance can be maintained 24*7 with no compromise on accuracy and quality. RPA tools can collect transactional information and analyze the quality of such transactions referring to some pre-defined validation rules, a typical use case for RPA implementation. If any transaction raises suspicion, it can be immediately brought to notice with the concerned person saving Banks from reputational damage.
In another survey, it was quite evident that 85% of the people reported RPA bots meeting or exceeding their expectations when it comes to Accuracy, Flexibility, and Compliance. Hence, RPA Implementation in the compliance process of any financial institution can be considered as a very good strategic investment.