RPA & automation solutions for finance and banking

RPA & automation solutions for finance and banking

We automate repetitive and time-consuming processes with the help of software bots, leaving you more time to take care of your clients and keep your employees happy.

5/5 CLUTCH VETTED:

Clutch 5 star review

RPA solutions for banking, finance, and accounting

We automate repetitive and time-consuming processes with the help of software bots, leaving you more time to take care of your clients and keep your employees happy.

RPA in finance
What’s RPA? See the video!

PROVEN RPA DEVELOPMENT PARTNER

We are Official

Read UiPath’s story on how did we help PRMG, a California-based mortgage bank, save $2M in just a few months with our Robotic Proces Automation solutions.

We are Official

Read UiPath’s story on how did we help PRGM, a California-based mortgage company, save $2M in just a few months with our Robotic Proces Automation solutions.

What can RPA do for finance & banking?

Unstructured data and document processing

Process enormous amounts of structured and unstructured data such as identity proofs, addresses, tax returns, articles of incorporation, payments, wire instructions, or chats from emails, PDFs, documents, and forms. Then, move it automatically between CRMs, SAPs, and databases you are using.

Insurance, lending, and mortgage operations

Automate your document validation and processing, automate the flow of most crucial data, increase quality control, and speed up the processes up to 500%.

Compliance, security and risk management

Ensure compliance with fierce regulatory requirements (FINRA, SEC), automate compliance processes such as KYC or AML, and secure the data of your customers.

Customer-facing functions and processes

Automate processes such as the second line of defense for Controls Testing, customer onboarding, Customer Due Diligence, or loan processing and provide your clients with faster, more accurate client service.

Insurance, lending, and mortgage operations

Automate your document validation and processing, automate the flow of most crucial data, increase quality control, and speed up the processes up to 500%.

Typical banking, financial, and accounting processes we automate:

  • Data extraction, processing and migration

  • Mortgage and lending processes

  • Alerts Case management and fraud analysis

  • Anti-money laundering analysts and compliance

  • Credit card processing

  • Are my processes fit for automation?
  • What processes should I automate to achieve the highest ROI?
  • What are the automation standards in my industry?
  • How long does it take? How much does it cost?

  • Invoices and claims processing

  • Monitor and assess credit risk
  • Risk analysis, management and prediction

  • Collection processes

  • Accounts Payable and General Ledgers

  • +75%
    of transactional operations in finance can be automated (McKinsey)
  • 25-50%

    operational cost savings that RPA generates (Capgemini Research)

  • 45%
    of reporting, planning, and strategic work can be automated (McKinsey)

Why RPA for finance, banking and accounting?

The finance industry is a perfect playground for implementing process automation. Banks, fin-techs, and insurance companies worldwide are utilizing Robotic Process Automation to achieve more while spending less.

Smoothed peak workloads

With RPA involved, you will never miss a deadline, and your revenue stream will be as streamlined as possible.

Decreased operational costs

Cut down your costs and free up financial resources, so you can reinvest and grow your business.

Higher team satisfaction and better client service

Keep your employees away from dull, mundane work and let them focus on tasks that bring value – keeping your customers fully satisfied.

Ensuring compliance and safety

Utilize RPA to monitor your compliance with SAC2 or other crucial industry regulations.

Reducing human errors and improving operational accuracy

Make no room for costly human mistakes (robots never make them and utilize RPA to monitor the correct flow of your data and tasks performability.

All your systems are interconnected!

Connect all your systems, such as CRMs, databases, or helpdesk suites, to create one automated productivity machine.

With RPA involved, you will never miss a deadline, and your revenue stream will be as streamlined as possible.

Cut down your costs and free up financial resources, so you can reinvest and grow your business.

Keep your employees away from dull, mundane work and let them focus on tasks that bring value – keeping your customers fully satisfied.

Utilise RPA to monitor your compliance with SAC2 or other crucial industry regulations.

Make no room for costly human mistakes (robots never make them and utilize RPA to monitor the correct flow of your data and tasks’ performability.

Connect together all your systems, such as CRMs, databases, or helpdesk suites to create one, automated productivity machine.

Test RPA – no strings attached!

Not sure if RPA can bring change to your business operations?

Let us build a trial automation of one of your processes; if you don’t like it, you won’t pay a dime!

They were thorough and never miss anything. Further, they are always available and willing to step in if issues arise. Very agile, lightweight processes which we love because it made the project go faster

We saved 100k in manual effort and, by shortening onboarding time, we stand to increase revenue by $1m.

Heather Maitre

Managing Partner at Mystic River Consulting

They were thorough and never miss anything. Further, they are always available and willing to step in if issues arise. Very agile, lightweight processes which we love because it made the project go faster

We saved 100k in manual effort and, by shortening onboarding time, we stand to increase revenue by $1m.

Heather Maitre

Managing Partner at Mystic River Consulting

Why Flobotics for RPA development?

Why Flobotics for RPA development?

The automation you can afford

Thanks to our competitive rates, we can build cost-efficient RPA automation and maximize your ROI starting from the development phase.

Top RPA consultants

Our battle-proven developers are sourced from the “Big Four” of accounting: PwC, EY, KPMG & Deloitte, and combine extensive technical and business expertise.

We will work with all your apps and systems

Robotic Process Automation is our passion and core competence. We do what we do best – automate medical processes and build unbeatable robots!

Compliance and security

Compliance with ISO, SOC, HIPAA, and all necessary regulations is at the core of our automation.

  • 5/5

    Clutch review based on 20 reviews

  • 350%

    Average ROI increase from a single automation

  • 100+

    Successful RPA implementations

Proven RPA services for finance and banking:

  • I admire their ability to meet and exceed our requirements and expectations.

    They are experts in UiPath automation.

    Peter Gilbert

    CIO at Ayr Farmers Mutual Insurance

  • Their availability was impressive. They worked through the middle of the night during a weekend to get it done for us. This project wouldn’t have been possible without that access.

    It was a large return on investment.

    DClifford

    David Clifford

    CSO of Tectonic Financial

  • Our work with Flobotics helps facilitate the process. It leverages the capabilities of different systems, to make it happen, as no individual system has the capability on its own.
    We’re very satisfied with their work.

    We are very satisfied with their work!

    PRMG

    Brent Williams

    Enterprise Architect at PRMG

Our publications about Robotic Process Automation for finance and banking

Go to blog
Payroll Process Improvement Ideas

Payroll Process Improvement Ideas You Can Implement in 2022

Michal Rejman | 2 May 2022

Are you looking for payroll process improvement ideas to implement in your company? Here is the list of proven tactics you should consider.

Bots You Can Bank on — What’s RPA for Finance and What’s in It for You?

How Is RPA Disrupting The Banking And Finance Industry

Filip Nasiadko

Filip Nasiadko | 22 Jan 2022

Read about the top reasons why RPA and banking & finance work together well, where it is better to apply automation and learn real use cases.

Insurance Claims Processing With RPA: Reasons for Implementation and Use Cases

Bart Teodorczuk | 11 Mar 2022

What ways of optimizing your claims processing have you already considered? See the reasons for automating your processes and look through the most popular use cases.

Try out RPA for financial and accounting.

Bring Robotic Process Automation to your company.
Let us know your needs and challenges, and we’ll build a free RPA demo to solve one.

RPA for finance

Introduction

In today’s world of finance and banking, RPA for finance and RPA for banking is quickly becoming the norm. Many companies are investing in Robotic Process Automation (RPA) and plan to continue in 2023. Implementing RPA can be a game-changer for your business, offering a range of benefits. In this article, we will explore the benefits of RPA and provide a checklist for implementing it in your finance and banking processes.

What is the gain for businesses and people while implementing RPA?

RPA for finance can offer a range of benefits for your business, including:

  1. Accelerating customer onboarding: automating the onboarding process with banking RPA makes it faster and more efficient.
  2. Increases revenue and cash flow: processing invoices and payments faster with financial RPA can increase your revenue and cash flow.
  3. Reduces operational costs: RPA for finance significantly lowers operating costs by automating repetitive and manual tasks.
  4. Reduces human interventions, enhancing process efficiency: RPA for banking reduces the need for human interventions in your processes, improving overall process efficiency.
  5. Decreases customer loss: RPA for finance helps you identify and resolve customer issues faster, reducing the risk of customer loss.
  6. Improves customer satisfaction quotient: faster processes and fewer errors with financial RPA can improve customer satisfaction.
  7. Enhances data quality: RPA for finance improves data quality by eliminating errors caused by manual data entry.

Checklist for implementing RPA for finance & RPA for banking processes

To implement RPA successfully in your finance and banking processes, you need to follow these steps:

  • Choose the right RPA vendor. The success of your RPA project will depend on the quality of the vendor you choose. Look for an experienced vendor that specializes in finance and banking processes.
  • Select the process that is the best asset for automation. Not all processes are suitable for automation. Choose a process that is repetitive, rule-based, and time-consuming. Examples of such processes include Accounts Payable, Accounts Receivable, Payroll, and Accounting Reconciliations.
  • Develop the RPA solution. Once you have selected the process to automate, you must develop the RPA solution. This involves creating a workflow, setting up the RPA software, and testing the solution.

The RPA development process involves a step-by-step procedure for planning, designing, building, testing, and deploying an RPA solution and the need for continuous improvement and maintenance. To ensure success, it’s essential to follow helpful tips and best practices for each step, such as involving stakeholders in the planning phase and using a modular approach to building the solution.

In addition to identifying what processes to automate, involving subject matter experts is crucial for selecting the best processes for automation. The most suitable processes for RPA automation are typically repetitive, rule-based, and time-consuming, such as Accounts Payable, Accounts Receivable, and Payroll.

Building on these insights, anyone interested in implementing RPA in their finance and banking processes can benefit from a helpful guide to the development process and clear guidelines for selecting the best processes for automation.

Conclusion

Implementing RPA in your finance and banking processes can bring many benefits, including increased efficiency, reduced costs, and improved customer satisfaction. Whether you’re considering implementing RPA for finance or RPA for banks, Flobotics can help you achieve these benefits and take your existing RPA project to the next level. With our experience and expertise, we can provide guidance and support for every step of the process, including several RPA in finance examples and success stories to showcase our achievements. Contact our team today for a consultation and see how we can help you get the most out of your RPA solution.