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| business process automation in banking industry: Robotic Process Automation (RPA) in the Financial Sector Mario Smeets, Ralph Erhard, Thomas Kaußler, 2021 The book provides its readers with an overview of the technology and its potential and helps them to place RPA in the context of process management. The readers receive concrete instructions for the implementation of an RPA with all necessary steps, such as adequate process selection, process preparation and many more. Application examples - many of them from the banking industry, but easily transferable to other industries - provide readers with valuable experience and offer support in the successful introduction and application of the technology. This book is a translation of the original German 1st edition Robotic Process Automation (RPA) in der Finanzwirtschaft by Mario Smeets, published by Springer Fachmedien Wiesbaden GmbH, part of Springer Nature in 2019. The translation was done with the help of artificial intelligence (machine translation by the service DeepL.com). A subsequent human revision was done primarily in terms of content, so that the book will read stylistically differently from a conventional translation. Springer Nature works continuously to further the development of tools for the production of books and on the related technologies to support the authors. The book is intended for future or already experienced users of RPA and for anyone interested in the technology. Process or technology managers at all hierarchical levels of IT and organizational areas, as well as users and managers in the business departments - across all industries. The Content Application areas and examples of RPA in the financial industry Technological Background RPA market overview and software solutions Execution of RPA implementations Setting up and introducing RPA governance RPA success factors Special cases and further developments of the RPA technology The authors Mario Smeets is a management consultant for banks, insurance companies and financial service providers. One of his consulting focuses lies in the area of process management and automation. Ralph Erhard is founder of DCP Deutsche Consulting Partner. His consulting focuses include strategic and organizational issues for banks, insurance companies and service providers. Thomas Kaußler is founder of DCP Deutsche Consulting Partner. His consulting focuses include implementation and migration projects for banks, insurance companies, service providers and system providers in the capital market business. |
| business process automation in banking industry: BUSINESS PROCESS AUTOMATION SANJAY MOHAPATRA, 2009-01-01 This book discusses the major trends in Business Process Automation (BPA) and explains how BPA technologies and tools are applied in practice. It introduces the students to the concepts of BPA and describes the need for automation in business process management. The book illustrates live examples of different functions of an enterprise where automation has been successfully implemented to reap business benefits. It elaborates the applications of BPA in various sectors such as HR and payroll, marketing, e-governance, knowledge management and banking. The text also discusses in detail the role of Chief Information Officer (CIO) as a change agent for designing and implementing automation initiatives. Return-on-Investment (ROI) calculations have been shown as a business case for automating business processes. Evaluation criteria for deciding which software package to be implemented have been thoroughly explained. Key Features : Provides case studies at the end of all chapters to help the students for easy understanding of the concepts discussed. Includes chapter-end questions to test students’ comprehension of the subject. Presents a glossary of technical terms. The book is designed for the postgraduate students of management. It would be useful for the professionals and practitioners for implementation of process automation in organizations as well. |
| business process automation in banking industry: Artificial Intelligence in Banking Introbooks, 2020-04-07 In these highly competitive times and with so many technological advancements, it is impossible for any industry to remain isolated and untouched by innovations. In this era of digital economy, the banking sector cannot exist and operate without the various digital tools offered by the ever new innovations happening in the field of Artificial Intelligence (AI) and its sub-set technologies. New technologies have enabled incredible progression in the finance industry. Artificial Intelligence (AI) and Machine Learning (ML) have provided the investors and customers with more innovative tools, new types of financial products and a new potential for growth.According to Cathy Bessant (the Chief Operations and Technology Officer, Bank of America), AI is not just a technology discussion. It is also a discussion about data and how it is used and protected. She says, In a world focused on using AI in new ways, we're focused on using it wisely and responsibly. |
| business process automation in banking industry: Service Automation Leslie Willcocks, Mary Cecelia Lacity, 2016-02 The hype and fear, globally, that surrounds service automation, robots and the future of work need to be punctured by in-depth research. This book, by Professors Leslie Willcocks and Mary Lacity, captures a year's worth of learning about service automation based on a survey, in-depth client case studies, and interviews with service automation clients, providers, and advisors. The authors cleverly embed today's empirical lessons into the broader history and context of automation, as a vital key in understanding the fast-rising phenomenon of service automation. The authors give a balanced, informed and compelling view on gaining the many benefits, as well as managing the downsides, of present and future technologies. The book has a number of key selling points: The authors are globally recognised for outstanding, world-class research; the book describes types of automation and gives evidence for multiple business benefits; in-depth case studies are included - from clients, providers and advisors of service automation; 25 key lessons are given, on how to deploy service automation in the workplace and there is a focus on the future of work, including robotic process automation, with valuable predictions and critique. |
| business process automation in banking industry: Digital Business Strategies in Blockchain Ecosystems Umit Hacioglu, 2019-11-09 This book analyzes the effects of the latest technological advances in blockchain and artificial intelligence (AI) on business operations and strategies. Adopting an interdisciplinary approach, the contributions examine new developments that change the rules of traditional management. The chapters focus mainly on blockchain technologies and digital business in the Industry 4.0 context, covering such topics as accounting, digitalization and use of AI in business operations and cybercrime. Intended for academics, blockchain experts, students and practitioners, the book helps business strategists design a path for future opportunities. |
| business process automation in banking industry: Banking 5.0 Bernardo Nicoletti, 2021-07-06 Bill Gates’ quote, “Banking is necessary, but banks are not,” showcases the opportunity for financial services digital transformation. The next transition from industry 4.0 to 5.0 will impact all sectors, including banking. It will combine information technology and automation, based on artificial intelligence, person-robot collaboration, and sustainability. It is time to analyze this transformation in banking deeply, so that the sector can adequately change to the ‘New Normal’ and a wholly modified banking model can be properly embedded in the business. This book presents a conceptual model of banking 5.0, detailing its implementation in processes, platforms, people, and partnerships of financial services organizations companies. The last part of the book is then dedicated to future developments. Of interest to academics, researchers, and professionals in banking, financial technology, and financial services, this book also includes business cases in financial services. |
| business process automation in banking industry: Powering the Digital Economy: Opportunities and Risks of Artificial Intelligence in Finance El Bachir Boukherouaa, Mr. Ghiath Shabsigh, Khaled AlAjmi, Jose Deodoro, Aquiles Farias, Ebru S Iskender, Mr. Alin T Mirestean, Rangachary Ravikumar, 2021-10-22 This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight. |
| business process automation in banking industry: Confluence of Artificial Intelligence and Robotic Process Automation Siddhartha Bhattacharyya, Jyoti Sekhar Banerjee, Debashis De, 2023-03-13 This book provides a detailed insight into Robotic Process Automation (RPA) technologies linked with AI that will help organizations implement Industry 4.0 procedures. RPA tools enhance their functionality by incorporating AI objectives, such as use of artificial neural network algorithms, text mining techniques, and natural language processing techniques for information extraction and the subsequent process of optimization and forecasting scenarios for the purpose of improving an organization's operational and business processes. The target readers of this book are researchers, professors, graduate students, scientists, policymakers, professionals, and developers working in the IT and ITeS sectors, i.e. people who are working on emerging technologies. This book also provides insights and decision support tools necessary for executives concerned with different industrial and organizational automation-centric jobs, knowledge dissemination, information, and policy development for automation in different educational, government, and non-government organizations. This book is of special interest to college and university educators who teach AI, machine learning, blockchain, business intelligence, cognitive intelligence, and brain intelligence courses in different capacities. |
| business process automation in banking industry: Business Process Reengineering Sanjay Mohapatra, 2012-12-16 Business process reengineering (BPR) focuses on redesigning the strategic and value-added processes which transcend the organizational boundaries. It is a cross-functional approach that requires support from almost all the departments of the organization. Business Process Reengineering: Automation Decision Points in Process Reengineering offers a new framework based process reengineering and links it to organization life cycle, process life cycle, and process management. This volume describes the fundamental concepts behind business process reengineering and examines them through case studies, and should appeal to researchers and academics interested in business process reengineering, operations strategy, and organizational restructuring and design. |
| business process automation in banking industry: Robotic Process Automation (RPA) in the Financial Sector Mario Smeets, Ralph Erhard, Thomas Kaußler, 2021-07-25 Dieses Buch bringt Ihnen die Robotic Process Automation in der Finanzwirtschaft näher In der Finanzbranche ist das Thema Prozessautomatisierung seit Jahren nicht mehr wegzudenken. Doch wie setzt man solche Veränderungen im Rahmen des Changemanagements erfolgreich und effizient um? Das Buch „Robotic Process Automation in der Finanzwirtschaft“ zeigt es Ihnen. Im Fokus steht der recht junge RPA-Ansatz aus der Intelligent Automation. Dabei imitieren Roboter das menschliche Handeln. Die Eingabe von Befehlen erfolgt direkt über die Oberfläche. So gehören tiefgreifende Softwareveränderungen der Vergangenheit an. Im Zuge dessen klärt dieses Buch u. a. folgende Fragen bezüglich der Robotic Process Automation in der Finanzwirtschaft: • Was ist RPA überhaupt? • Welche Vorteile bringt diese Technologie mit sich? • Welche Erfolgsfaktoren tragen zu einer optimalen RPA-Implementierung bei? • Wie sieht ein mögliches RPA-Kompetenzcenter aus? • Welche Anwendungsbereiche für RPA gibt es? Eine Leseempfehlung für ein breites Zielpublikum Daneben beschäftigen sich die Autoren nicht nur mit dem Ist-Zustand der Robotic Process Automation. Zudem erhalten Sie einen Ausblick auf die zukünftige Entwicklung dieser Software-Lösung. Durch den hohen Praxisbezug ist das Buch speziell für folgende Zielgruppen eine lesenswerte Empfehlung: • Verantwortliche für die Implementierung von Prozessen oder Technologien im IT-Bereich • RPA-Anwender und Personen, die sich dafür interessieren • Erfahrene Experten und Praktiker, die branchenübergreifend mit RPA vertraut sind |
| business process automation in banking industry: Handbook on Business Process Management and Digital Transformation Paul Grefen, Irene Vanderfeesten, 2024-08-06 Many organizations are currently undertaking digital transformation to improve their business processes and better achieve their goals. This Handbook provides a comprehensive overview of contemporary trends and research at the point where business process management and digital transformation meet. Presenting a multidisciplinary approach, it demonstrates the close link between these two fields through engagement with theory and practice. |
| business process automation in banking industry: Hyperautomation Matt Calkins, Neil Ward-Dutton, George Westerman, Lakshmi N, Sidney Fernandes, Alice Wei, Chris Skinner, Isaac Sacolick, John Rymer, Lisa Heneghan, Darren Blake, Rob Galbraith, Ron Tolido, Michael Beckley, 2020-11-20 HYPERAUTOMATION is a collection of expert essays on low-code development and the future of business process automation. In each chapter, an academic, analyst, implementer, or end-user examines different aspects of low-code and automation in the enterprise, clarifying both value and barriers through personal experiences and insights. With contributions from: Dr. George Westerman, MIT - Neil Ward-Dutton, IDC - Lakshmi N, Tata Consultancy Services - Sidney Fernandes & Alice Wei, University of South Florida - Lisa Heneghan, KPMG - Chris Skinner, FinTech expert - John R. Rymer, Forrester (Emeritus) - Isaac Sacolick, StarCIO - Darren Blake, Bexley Neighbourhood Care - Rob Galbraith, InsureTech expert - Ron Tolido, Capgemini - Michael Beckley, Appian All proceeds from the sale of this book will be donated to Black Girls Code, an organization providing young girls of color opportunities to learn in-demand skills in technology and computer programming. |
| business process automation in banking industry: The Changing Face of Central Banking Pierre L. Siklos, 2002-11-21 Central banks have emerged as the key players in national and international policy making. This book explores their evolution since World War II in 20 industrial countries. The study considers the mix of economic, political and institutional forces that have affected central bank behaviour and its relationship with government. The analysis reconciles vastly different views about the role of central banks in the making of economic policies. One finding is that monetary policy is an evolutionary process. |
| business process automation in banking industry: Automating Finance Juan Pablo Pardo-Guerra, 2019-05-16 Explains how stock markets became automated through the work of invisible technologists, redefining the fabric of finance for the twenty-first century. |
| business process automation in banking industry: India Automated: How the Fourth Industrial Revolution is Transforming India Pranjal Sharma, 2019-11-07 Rethinking the future of India through automation. From scavenging to lunar missions, from railway factories to healthcare and even tax planning, automation is growing faster and deeper in India than is visible. In a country where more than a million people get ready for jobs every month, this rise in automation can appear as an unwelcome change or a threat to their livelihood. But the reality is that automation is enhancing efficiency, accuracy and accountability of India’s working professionals in ways that haven’t been seen before. Automation is helping generate information in a data-poor country. It is making India’s private sector more active and government’s functioning more transparent and reliable. Through several case studies of private enterprises and government departments, India Automated chronicles the transformation that India is undergoing and how robotics and process automation are infusing proficiency in our work and personal lives. Automation is turning to be one of the most impactful results of the Fourth Industrial Revolution technologies in India. AI, drones, blockchain, cybersecurity, 3D printing, augmented and virtual reality include automated processes. These are also opening new categories of employment for job seekers. This book argues for deeper collaboration between industrial and government sectors to ensure that automation enhances India’s steady growth while also mitigating its negative impact. With this forward-looking approach, Pranjal Sharma brings us face to face with the reality that it is imperative for India to align itself with this revolution. |
| business process automation in banking industry: How to Measure Survey Reliability and Validity Mark S. Litwin, 1995-08-03 UCLA School of Medicine, Los Angeles Aimed at helping readers improve the accuracy of their survey, Litwin′s book guides in assessing and interpreting the quality of their survey data by thoroughly examining the survey instrument used. The book also explains how to code and pilot test new and established surveys. In addition, it covers such issues as how to measure reliability (e.g., test-retest, alternate-form, internal consistency, inter-observer, and intra-observer reliability), how to measure validity (including content, criterion, and construct validity), how to address cross-cultural issues in survey research, and how to scale and score a survey. I found this work to be of very high quality with respect to both content and writing. It is commendable in terms of communicating and facilitating understanding of sometimes difficult concepts. It will make an excellent text for my introductory course on survey research and, I imagine, for many similar or related courses in the social sciences or education. All the pedagogical features, including the exercises, are excellent, and the level of writing throughout not only is appropriate for an introductory volume, but also engaging and lively. --Daniel U. Levine, Department of Education, University of Nebraska |
| business process automation in banking industry: What To Do When Machines Do Everything Malcolm Frank, Paul Roehrig, Ben Pring, 2017-02-13 “Refreshingly thought-provoking...” – The Financial Times The essential playbook for the future of your business What To Do When Machines Do Everything is a guidebook to succeeding in the next generation of the digital economy. When systems running on Artificial Intelligence can drive our cars, diagnose medical patients, and manage our finances more effectively than humans it raises profound questions on the future of work and how companies compete. Illustrated with real-world cases, data, and insight, the authors provide clear strategic guidance and actionable steps to help you and your organization move ahead in a world where exponentially developing new technologies are changing how value is created. Written by a team of business and technology expert practitioners—who also authored Code Halos: How the Digital Lives of People, Things, and Organizations are Changing the Rules of Business—this book provides a clear path to the future of your work. The first part of the book examines the once in a generation upheaval most every organization will soon face as systems of intelligence go mainstream. The authors argue that contrary to the doom and gloom that surrounds much of IT and business at the moment, we are in fact on the cusp of the biggest wave of opportunity creation since the Industrial Revolution. Next, the authors detail a clear-cut business model to help leaders take part in this coming boom; the AHEAD model outlines five strategic initiatives—Automate, Halos, Enhance, Abundance, and Discovery—that are central to competing in the next phase of global business by driving new levels of efficiency, customer intimacy and innovation. Business leaders today have two options: be swallowed up by the ongoing technological evolution, or ride the crest of the wave to new profits and better business. This book shows you how to avoid your own extinction event, and will help you; Understand the untold full extent of technology's impact on the way we work and live. Find out where we're headed, and how soon the future will arrive Leverage the new emerging paradigm into a sustainable business advantage Adopt a strategic model for winning in the new economy The digital world is already transforming how we work, live, and shop, how we are governed and entertained, and how we manage our money, health, security, and relationships. Don't let your business—or your career—get left behind. What To Do When Machines Do Everything is your strategic roadmap to a future full of possibility and success. Or peril. |
| business process automation in banking industry: Managing Customer Experiences in an Omnichannel World Taşkın Dirsehan, 2020-11-26 Managing Customer Experiences in an Omnichannel World explores how organizations integrating both the physical and virtual environments for consumers will enable them to effectively manage the customer experience. |
| business process automation in banking industry: Advancements in Intelligent Process Automation Thangam, Dhanabalan, 2024-10-01 In the current fast-paced business environment, organizations face the challenge of improving operational efficiency and driving innovation while dealing with complex technological landscapes. Many organizations require assistance exploiting intelligent process automation's full potential (IPA). This is often due to a need for more comprehensive understanding or clear implementation strategies. As a result, they need to help their workflows, optimize resources, and adapt effectively to changing market demands. Advancements in Intelligent Process Automation bridges this gap by providing a holistic view of IPA, encompassing RPA, AI, and ML, among other key technologies. Through real-world case studies, strategic guidelines, and interdisciplinary perspectives, the book offers actionable insights that are not just theoretical, but practical and implementable. This ensures that organizations seeking to implement IPA can do so seamlessly, without feeling overwhelmed or unsure. Addressing ethical and regulatory considerations ensures responsible AI practices and compliance, fostering a sustainable approach to automation. |
| business process automation in banking industry: Fundamentals of Business Process Management Marlon Dumas, Marcello La Rosa, Jan Mendling, Hajo A. Reijers, 2018-03-23 This textbook covers the entire Business Process Management (BPM) lifecycle, from process identification to process monitoring, covering along the way process modelling, analysis, redesign and automation. Concepts, methods and tools from business management, computer science and industrial engineering are blended into one comprehensive and inter-disciplinary approach. The presentation is illustrated using the BPMN industry standard defined by the Object Management Group and widely endorsed by practitioners and vendors worldwide. In addition to explaining the relevant conceptual background, the book provides dozens of examples, more than 230 exercises – many with solutions – and numerous suggestions for further reading. This second edition includes extended and completely revised chapters on process identification, process discovery, qualitative process analysis, process redesign, process automation and process monitoring. A new chapter on BPM as an enterprise capability has been added, which expands the scope of the book to encompass topics such as the strategic alignment and governance of BPM initiatives. The textbook is the result of many years of combined teaching experience of the authors, both at the undergraduate and graduate levels as well as in the context of professional training. Students and professionals from both business management and computer science will benefit from the step-by-step style of the textbook and its focus on fundamental concepts and proven methods. Lecturers will appreciate the class-tested format and the additional teaching material available on the accompanying website. |
| business process automation in banking industry: INTELLIGENT AUTOMATION PASCAL. BARKIN BORNET (IAN. WIRTZ, JOCHEN.), 2020 |
| business process automation in banking industry: The Robotic Process Automation Handbook Tom Taulli, 2020-02-28 While Robotic Process Automation (RPA) has been around for about 20 years, it has hit an inflection point because of the convergence of cloud computing, big data and AI. This book shows you how to leverage RPA effectively in your company to automate repetitive and rules-based processes, such as scheduling, inputting/transferring data, cut and paste, filling out forms, and search. Using practical aspects of implementing the technology (based on case studies and industry best practices), you’ll see how companies have been able to realize substantial ROI (Return On Investment) with their implementations, such as by lessening the need for hiring or outsourcing. By understanding the core concepts of RPA, you’ll also see that the technology significantly increases compliance – leading to fewer issues with regulations – and minimizes costly errors. RPA software revenues have recently soared by over 60 percent, which is the fastest ramp in the tech industry, and they are expected to exceed $1 billion by the end of 2019. It is generally seamless with legacy IT environments, making it easier for companies to pursue a strategy of digital transformation and can even be a gateway to AI. The Robotic Process Automation Handbook puts everything you need to know into one place to be a part of this wave. What You'll Learn Develop the right strategy and planDeal with resistance and fears from employeesTake an in-depth look at the leading RPA systems, including where they are most effective, the risks and the costsEvaluate an RPA system Who This Book Is For IT specialists and managers at mid-to-large companies |
| business process automation in banking industry: Robotic Process Automation (RPA) in the Financial Sector Mario Smeets, Ralph Erhard, Thomas Kaußler, 2021-07-29 Dieses Buch bringt Ihnen die Robotic Process Automation in der Finanzwirtschaft näher In der Finanzbranche ist das Thema Prozessautomatisierung seit Jahren nicht mehr wegzudenken. Doch wie setzt man solche Veränderungen im Rahmen des Changemanagements erfolgreich und effizient um? Das Buch „Robotic Process Automation in der Finanzwirtschaft“ zeigt es Ihnen. Im Fokus steht der recht junge RPA-Ansatz aus der Intelligent Automation. Dabei imitieren Roboter das menschliche Handeln. Die Eingabe von Befehlen erfolgt direkt über die Oberfläche. So gehören tiefgreifende Softwareveränderungen der Vergangenheit an. Im Zuge dessen klärt dieses Buch u. a. folgende Fragen bezüglich der Robotic Process Automation in der Finanzwirtschaft: • Was ist RPA überhaupt? • Welche Vorteile bringt diese Technologie mit sich? • Welche Erfolgsfaktoren tragen zu einer optimalen RPA-Implementierung bei? • Wie sieht ein mögliches RPA-Kompetenzcenter aus? • Welche Anwendungsbereiche für RPA gibt es? Eine Leseempfehlung für ein breites Zielpublikum Daneben beschäftigen sich die Autoren nicht nur mit dem Ist-Zustand der Robotic Process Automation. Zudem erhalten Sie einen Ausblick auf die zukünftige Entwicklung dieser Software-Lösung. Durch den hohen Praxisbezug ist das Buch speziell für folgende Zielgruppen eine lesenswerte Empfehlung: • Verantwortliche für die Implementierung von Prozessen oder Technologien im IT-Bereich • RPA-Anwender und Personen, die sich dafür interessieren • Erfahrene Experten und Praktiker, die branchenübergreifend mit RPA vertraut sind |
| business process automation in banking industry: Human-in-the-Loop Machine Learning Robert Munro, Robert Monarch, 2021-07-20 Machine learning applications perform better with human feedback. Keeping the right people in the loop improves the accuracy of models, reduces errors in data, lowers costs, and helps you ship models faster. Human-in-the-loop machine learning lays out methods for humans and machines to work together effectively. You'll find best practices on selecting sample data for human feedback, quality control for human annotations, and designing annotation interfaces. You'll learn to dreate training data for labeling, object detection, and semantic segmentation, sequence labeling, and more. The book starts with the basics and progresses to advanced techniques like transfer learning and self-supervision within annotation workflows. |
| business process automation in banking industry: Artificial Intelligence in Industry 4.0 Alexiei Dingli, Foaad Haddod, Christina Klüver, 2021-02-27 This book is intended to help management and other interested parties such as engineers, to understand the state of the art when it comes to the intersection between AI and Industry 4.0 and get them to realise the huge possibilities which can be unleashed by the intersection of these two fields. We have heard a lot about Industry 4.0, but most of the time, it focuses mainly on automation. In this book, the authors are going a step further by exploring advanced applications of Artificial Intelligence (AI) techniques, ranging from the use of deep learning algorithms in order to make predictions, up to an implementation of a full-blown Digital Triplet system. The scope of the book is to showcase what is currently brewing in the labs with the hope of migrating these technologies towards the factory floors. Chairpersons and CEOs must read these papers if they want to stay at the forefront of the game, ahead of their competition, while also saving huge sums of money in the process. |
| business process automation in banking industry: The Automation Advantage: Embrace the Future of Productivity and Improve Speed, Quality, and Customer Experience Through AI Bhaskar Ghosh, Rajendra Prasad, Gayathri Pallail, 2021-12-07 From the global automation leaders at Accenture—the first-ever comprehensive blueprint for how to use and scale AI-powered intelligent automation in the enterprise to gain competitive advantage through faster speed to market, improved product quality, higher efficiency, and an elevated customer experience. Many companies were already implementing limited levels of automation when the pandemic hit. But the need to rapidly change business processes and how organizations work resulted in the compression of a decade’s worth of digital transformation into a matter of months. Technology suddenly became the essential element for rapid organizational change and the creation of 360-degree value benefiting all stakeholders. Businesses are faced with the imperative to embrace that change or risk being left behind. In The Automation Advantage, global enterprise technology and automation veterans Bhaskar Ghosh, Rajendra Prasad, and Gayathri Pallail give business leaders and managers the action plan they need to execute a strategic agenda that enables them to quickly and confidently scale their automation and AI initiatives. This practical and highly accessible implementation guide answers leaders’ burning questions, such as: How do I identify and prioritize automation opportunities? How do I assess my legacy systems and data issues? How do I derive full value out of my technology investments and automation efforts? How can I inspire my employees to embrace change and the new opportunities presented by automation? The Automation Advantage goes beyond optimizing process to using AI to transform almost any business activity in any industry to make it faster, more streamlined, cost efficient, and customer-focused—vastly improving overall productivity and performance. Featuring case studies of successful automation solutions, this indispensable road map includes guiding principles for technology, governance, culture, and leadership change. It offers a human-centric approach to AI and automation that leads to sustainable transformation and measurable business results. |
| business process automation in banking industry: Hyperautomation in Business and Society Darwish, Dina, 2024-07-17 The demand for efficiency and intelligent decision-making has become paramount, prompting a crucial examination of the limitations of traditional automation. Organizations find themselves at a crossroads, searching for a transformative solution that transcends conventional approaches. Enter the era of Hyperautomation an innovative paradigm that goes beyond simple automation by integrating artificial intelligence, robotic process automation, and advanced techniques such as cognitive computing and data mining. Hyperautomation in Business and Society is a comprehensive exploration of how Hyperautomation addresses the complexities of modern challenges, offering a compelling solution to propel businesses and society into a new era of efficiency and intelligent decision-making. This book sets out to achieve a dual purpose: to enlighten and to guide. Starting with a breakdown of intelligent automation, the book progresses to dissect the latest IA technologies, platforms, and the intricate ways in which it optimizes workflows. Spanning diverse applications across sectors such as logistics, marketing, finance, and customer care, it paints a vivid picture of IA's transformative influence. Notably, it addresses the challenges faced by IA implementation, offering a nuanced exploration of real-world applications and their impact on businesses. Geared towards undergraduate and postgraduate students, researchers, and practitioners, this book is a compass for those navigating the ever-changing landscape of intelligent automation. |
| business process automation in banking industry: Straight Through Processing for Financial Services Ayesha Khanna, 2010-08-03 As economic and regulatory pressures drive financial institutions to seek efficiency gains by improving the quality of their trading processes and systems, firms are devoting increasing amounts of capital to maintaining their competitive edge. Straight-Through Processing (STP), which automates every step in the trading system, is the most effective way for firms to remain competitive. According to the Securities Industry Association, the US securities industry will spend $8 billion to implement STP initiatives, and 99% percent of this investment will be made in systems internal to the firm. Straight-Through Processing for Financial Services: The Complete Guide provides the knowledge and tools required by operations managers and systems architects to develop and implement STP processing systems that streamline business processes to maintain competitiveness in the market.* Learn the tools and techniques for developing software systems and for streamlining business processes* Keep up to date and well informed in this highly regulated and ever changing market* Gain the knowledge and experience for a leading consultant in the field |
| business process automation in banking industry: Business Process Management: Blockchain, Robotic Process Automation, and Central and Eastern Europe Forum Andrea Marrella, Raimundas Matulevičius, Renata Gabryelczyk, Bernhard Axmann, Vesna Bosilj Vukšić, Walid Gaaloul, Mojca Indihar Štemberger, Andrea Kő, Qinghua Lu, 2022-09-06 This book constitutes the proceedings of the Blockchain, Robotic Process Management (RPA), and Central and Eastern Europe (CEE) Forum which were held as part of the 20th International Conference on Business Process Management, BPM 2022, which took place in Münster, Germany, during September 11-15, 2022. The Blockchain Forum is dealing with techniques for and applications of blockchains, distributed ledger technologies, and related topics. The RPA Forum brings together researchers from various communities to discuss challenges, opportunities, and new ideas related to robotic process automation and its application to business processes in private and public sectors. The CEE Forum provides a discussion platform for BPM academics from Central and Eastern Europe to disseminate their research, compare results and share experiences. The 20 papers presented in this volume were carefully reviewed and selected from a total of 40 submissions. |
| business process automation in banking industry: Robotic Process Automation Unleashed: Streamlining Business Processes for a Digital Future Fahed Mrad , 2024-09-19 In today's rapidly evolving digital landscape, businesses are constantly challenged to improve efficiency, reduce costs, and stay competitive. Mastering Robotic Process Automation offers a comprehensive, yet accessible guide to Robotic Process Automation (RPA)—a transformative technology that is reshaping how organizations manage repetitive, rules-based tasks. From automating data entry to streamlining complex workflows, RPA allows businesses to free up human resources for strategic and creative work. This book is designed for business professionals, IT specialists, leaders in humanitarian and development sectors, and students looking to expand their knowledge of digital transformation through automation. The guide provides a clear roadmap for understanding, implementing, and optimizing RPA solutions, covering topics such as: Identifying processes suitable for automation. Comparing popular RPA platforms like UiPath, Automation Anywhere, and Blue Prism. Step-by-step guidance on designing and deploying RPA projects. Best practices for maximizing the return on investment (ROI) and monitoring automation performance. Insights into the future of automation, including hyperautomation and AI integration. Throughout the book, real-world examples and case studies from a variety of sectors illustrate how RPA is improving operational efficiency and service delivery, even in resource-constrained environments like humanitarian organizations. The content was developed through a combination of human expertise and advanced AI-assisted tools, reflecting the very principles of automation explored within its pages. Mastering Robotic Process Automation equips readers with practical strategies, clear action steps, and the knowledge needed to successfully navigate their automation journey, making it an essential resource for anyone looking to leverage RPA for business success. |
| business process automation in banking industry: Business Process Change Paul Harmon, 2014-04-26 Business Process Change, 3rd Edition provides a balanced view of the field of business process change. Bestselling author Paul Harmon offers concepts, methods, cases for all aspects and phases of successful business process improvement. Updated and added for this edition is new material on the development of business models and business process architecture development, on integrating decision management models and business rules, on service processes and on dynamic case management, and on integrating various approaches in a broad business process management approach. New to this edition: - How to develop business models and business process architecture - How to integrate decision management models and business rules - New material on service processes and on dynamic case management - Learn to integrate various approaches in a broad business process management approach - Extensive revision and update addresses Business Process Management Systems, and the integration of process redesign and Six Sigma - Learn how all the different process elements fit together in this best first book on business process, now completely updated - Tailor the presented methodology, which is based on best practices, to your organization's specific needs - Understand the human aspects of process redesign - Benefit from all new detailed case studies showing how these methods are implemented |
| business process automation in banking industry: Management of Banks and Financial Services Dr. Shuchi Gautam, Dr. Mishu Tripathi, Dr. Disha Shah, 2024-02-28 The importance of banks and other financial services firms cannot be overstated in today's dynamic global financial market. Understanding the complexities, difficulties, and prospects of this industry at a nuanced level is necessary due to its dynamic nature. The goal of Management of Banks and Financial Services aims to provide readers a helpful guide through the complicated banking and financial services business by providing a thorough examination of its many facets. This book is a compilation of the knowledge and experience of seasoned specialists in the subject, as well as the outcomes of their rigorous investigation. Its goal is to provide readers with a comprehensive grasp of modern banking management by connecting theory with experience. To provide readers a complete picture of the changes and developments influencing the financial world, the chapters cover important topics like as risk management, laws and regulations, technical advancements, and strategic planning. Additionally, this book is created for both professionals wishing to hone their skills in the ever-evolving financial landscape and students majoring in banking and finance. This book should help students, educators, and practitioners understand bank and financial services strategic management. This book provides valuable insights into the changing role of banks, the effects of digitization, and the significance of adaptive management techniques. It is a timely handbook that is relevant as the financial sector is going through dramatic transitions. |
| business process automation in banking industry: Business Process Management Andrea Marrella, |
| business process automation in banking industry: Strategic Human Resource Management in the Hospitality Industry: A Digitalized Economic Paradigm Kankaew, Kannapat, 2023-03-13 Human resources are critical within organizations, particularly in the modern world where technology can be acquired to produce the same quality of products. Today, in the context of the digitalized economy, hospitality organizations must ensure their human resources are evolving with the times to remain competitive. Strategic Human Resource Management in the Hospitality Industry: A Digitalized Economic Paradigm discusses strategic human resource management in the hospitality industry and sheds light on every aspect of human resource management in the hospitality industry globally, such as from selection, recruitment, training and development, performance management, compensation and benefit, and employee retention. Covering key topics such as technology integration, leadership, and tourism, this reference work is ideal for industry professionals, managers, business owners, administrators, policymakers, researchers, academicians, scholars, instructors, and students. |
| business process automation in banking industry: Becoming Strategic with Robotic Process Automation Leslie P. Willcocks, John Hindle, Mary C. Lacity, 2019-10-07 |
| business process automation in banking industry: Robotic Process Automation Romil Rawat, Rajesh Kumar Chakrawarti, Sanjaya Kumar Sarangi, Rahul Choudhary, Anand Singh Gadwal, Vivek Bhardwaj, 2023-08-09 ROBOTIC PROCESS AUTOMATION Presenting the latest technologies and practices in this ever-changing field, this groundbreaking new volume covers the theoretical challenges and practical solutions for using robotics across a variety of industries, encompassing many disciplines, including mathematics, computer science, electrical engineering, information technology, mechatronics, electronics, bioengineering, and command and software engineering. Robotics is the study of creating devices that can take the place of people and mimic their behaviors. Mechanical engineering, electrical engineering, information engineering, mechatronics, electronics, bioengineering, computer engineering, control engineering, software engineering, mathematics, and other subjects are all included in robotics. Robots can be employed in a variety of scenarios and for a variety of objectives, but many are now being used in hazardous areas (such as radioactive material inspection, bomb detection, and deactivation), manufacturing operations, or in conditions where humans are unable to live (e.g. in space, underwater, in high heat, and clean up and containment of hazardous materials and radiation). Walking, lifting, speaking, cognition, and any other human activity are all attempted by robots. Many of today’s robots are influenced by nature, making bio-inspired robotics a growing area. Defusing explosives, seeking survivors in unstable ruins, and investigating mines and shipwrecks are just a few of the activities that robots are designed to undertake. This groundbreaking new volume presents a Robotic Process Automation (RPA) software technique that makes it simple to create, deploy, and manage software robots that mimic human movements while dealing with digital systems and software. Software robots can interpret what’s on a screen, type the correct keystrokes, traverse systems, locate and extract data, and do a wide variety of predetermined operations, much like people. Software robots can do it quicker and more reliably than humans, without having to stand up and stretch or take a coffee break. |
| business process automation in banking industry: ECIAIR 2021 3rd European Conference on the Impact of Artificial Intelligence and Robotics Prof Florinda Matos, 2021-11-18 |
| business process automation in banking industry: Robotic Process Automation Christian Czarnecki, Peter Fettke, 2021-05-10 This book brings together experts from research and practice. It includes the design of innovative Robot Process Automation (RPA) concepts, the discussion of related research fields (e.g., Artificial Intelligence, AI), the evaluation of existing software products, and findings from real-life implementation projects. Similar to the substitution of physical work in manufacturing (blue collar automation), Robotic Process Automation tries to substitute intellectual work in office and administration processes with software robots (white-collar automation). The starting point for the development of RPA was the observation that – despite the use of process-oriented enterprise systems (such as ERP, CRM and BPM systems) – additional manual activities are still indispensable today. In the RPA approach, these manual activities are learned and automated by software robots, either by defining rules or by observing manual activities. RPA is related to business process management, machine learning, and artificial intelligence. Tools for RPA originated from dedicated stand-alone software. Today, RPA functionalities are also integrated into elaborated process management suites. From a conceptual perspective, RPA can be structured into input components (sensors in the wide sense), an intelligence center, and output components (actuators in the wide sense). From a strategic perspective, the impact of RPA can be related to the support of existing tasks, the complete substitution of human activities, and the innovation of processes as well as business models. At present, high expectations are related to the use of RPA in the improvement of software-supported business processes. Manual activities are learned and automated by software robots that interact with existing applications via the presentation layer. In combination with artificial intelligence (AI) as well as innovative interfaces (e. g., voice recognition) RPA creates a novel level of automation for office and administration processes. Its benefit potential reaches a return on investment (ROI) up-to 800% that is documented in various case studies. |
| business process automation in banking industry: Hyperautomation for Next-Generation Industries Rajesh Kumar Dhanaraj, M. Nalini, A. Daniel, Ali Kashif Bashir, Balamurugan Balusamy, 2024-10-15 This book is essential for anyone looking to understand how hyperautomation can revolutionize businesses by simplifying operations, reducing errors, and creating more intelligent and adaptable workplaces through the use of automation technologies such as artificial intelligence, machine learning, and robotic process automation. The use of automation technologies to simplify any and every activity conceivable in a business, allowing repeated operations to operate without manual intervention, is known as hyperautomation. Hyperautomation transforms current and old processes and equipment by utilizing artificial intelligence, machine learning, and robotic process automation. This digital transformation may assist a business in gaining cost and resource efficiency, allowing it to prosper in a more competitive environment. With the advancement of automation technologies, hyperautomation is becoming more prevalent. Companies are shifting their methods to create more human-centered and intelligent workplaces. This change has ushered in a new era for organizations that rely on technology and automation tools to stay competitive. Businesses may move beyond technology’s distinct advantages to genuine digital agility and scale adaptability when all forms of automation operate together in close partnership. Automation tools must be simple to incorporate into the current technological stack while not requiring too much effort from IT. A platform must be able to plug and play with a wide range of technologies to achieve hyperautomation. The interdependence of automation technologies is a property that is connected to hyperautomation. Hyperautomation saves individuals time and money by reducing errors. Hyperautomation has the potential to create a workplace that is intelligent, adaptable, and capable of making quick, accurate decisions based on data and insights. Model recognition is used to determine what to do next and to optimize processes with the least amount of human engagement possible. |
| business process automation in banking industry: Enterprise Resource Planning K. Ganesh, Sanjay Mohapatra, S. P. Anbuudayasankar, P. Sivakumar, 2014-06-18 This book introduces the fundamental principles of understanding business requirements to apply enterprise resource planning (ERP) in order to meet business needs. The book also helps readers understand the usage of ERP for monitoring and controlling business processes, while providing practical oriented solutions to the design and implementation of ERP. Using the provided framework, a business can decide to provide more value at lower cost which increases its competitive advantage. This should be an ideal reference for executives, researchers and consultants in project management of ERP. ERP can be considered to be an integrated package of business process. The scope of ERP determines the extent of automation of business process. For example if ERP covers Human Resource (HR) and finance business processes only, then business process related HR and finance are automated. Typically business process that are automated in HR and finance employee entry and exist process, allocation of employee ID, payroll, processing , income tax planning and actual deduction etc. There is seamless flow of employee data and information is available at an effectively faster rate to take appropriate decision. As custom demand increases, there is a need to meet the changing scenario with speed and efficiency. While there is a need to increase productivity, there is also a need to reduce cost of operation. The repetitive business processes can be handled effectively by automating them and freeing human resources for meeting other uncertainties. These automations not only should be done for each department, but also should cut across different departments. Thus there is a need for automating business processes at enterprise level. This enterprise level automation started with MRP, then MRP II, ERP and then finally open source ERP have taken centre stage. Out of the standard products available in the market, an organization can chose an ERP product for implementation, depending on the features available and the total cost of ownership (TCO). This comparison helps an organization to choose the product that best suits the needs for the organization. Enterprise Resource Planning: Fundamentals of Design and Implementation highlights these concepts while discusses different good practices to design and implement ERP. |
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Importance of Artificial Intelligence (AI) and Robotic Process ...
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