RPA (Robotic Process Automation) is the use of software bots performing pre-defined steps on computer systems, rather than human employees performing the processes manually.
RPA is the application of technology that provides organizations with a digital workforce that follows rule-based business processes and interacts with the organization’s systems in the same way that existing users currently do.
Banking and Insurance companies are using RPA to securely automate and differentiate customer experiences. As a part of its strategy to stay at the leading edge of innovation, FRSPL is focusing on robotics to digitize companies and boost their overall performance.
FRSPL’s Blue prism is an example of how it has already automated in-house processes extensively using the RPA tool.
Blue Prism is built on the Microsoft .NET Framework. It automates any application and supports any platform (mainframe, Windows, WPF, Java, web, etc.) presented in a variety of ways (terminal emulator, thick client, thin client, web browser, Citrix and web services).
It is designed for a multi-environment deployment model (development, test, staging, and production) with both physical and logical access controls. Blue Prism RPA software includes a centralized release management interface and process change distribution model providing high levels of visibility and control.
Additional control is provided to the business via a centralized model for process development and re- use. Blue prism records every system login, change in management action, and decisions taken by the robots. It also identifies statistics and real-time operational analytics. All the process codings are automated on the back end, allowing even non-technical users to automate a process by dragging components into an interface.
Blue Prism’s Digital Workforce automates many of the processes that hold the financial organization’s back. With world-class security, comprehensive audit trails and non-repudiation, it is designed to meet the strict security and compliance needs of the financial service industry.
It can implement automation that can process loan applications and insurance claims much faster and through the customers’ preferred digital channels. Companies can also reduce departmental operational costs and drive employees to focus on high-value work.
Business Analysts : BA’s job is to identify the automation feasible processes across various business units. Collect the process flow steps from respective process SME and prepare the BRS document.
RPA Developers : RPA developers will use the BRS document and will develop the automation code using the RPA tool (Blueprism).
Production Run Team: Production run team takes care of running the processes as per the schedule given by the business.
Production Support Team: The support team will take care of bug fixes and change requests for production processes.In the future, more intelligent robots, known as artificial intelligence (AI), will be introduced. AI mimics human thoughts compared to robotics which mimics actions. AI automates processes that require judgment and where the outcome is not always standard.
Having successfully introduced robotics to the bank, FRSPL is examining how far it can take the technology, as well as AI, to improve the banks overall efficiency and performance.
In the future, more intelligent robots, known as artificial intelligence (AI), will be introduced. AI mimics human thoughts compared to robotics which mimics actions. AI automates processes that require judgment and where the outcome is not always standard. Having successfully introduced robotics to the bank, FRSPL is examining how far it can take the technology, as well as AI, to improve the banks overall efficiency and performance