Why Banking and Financial Services is the Most Mature Sector for RPA and AI Adoption

All industries face the dual pressure of lowering operating costs while driving revenue growth. Traditional banks and financial services firms perhaps feel this pressure more acutely as they continue to struggle with revenue and profitability in the perfect storm of regulation, consumerism, and competitive disruption that continues to engulf them in the post-global financial crisis. Intelligent automation is one of the critical levers BFS firms are exploring to help them optimize their topline/bottom line balancing act.

The results are mixed bag so far. Generally, the processes most heavily targeted for transformation with intelligent automation have not yielded the expected returns for cost and business value. However, many areas designated as medium- or low-priority have yielded high-levels of satisfaction.

In this report, we spotlight the results of interviews with 80 banking and financial services (BFS) leaders and drill down into the specific needs and requirements of the BFS sector to gain critical insights into how this industry is embracing and leveraging intelligent automation.