RPA & automation solutions for finance and banking

RPA for Finance and Banking

Take the boring, repetitive, and time-consuming work from your employees’ shoulders, integrate your systems and streamline operations.

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RPA for Finance and Banking

Take the boring, repetitive, and time-consuming work from your employees’ shoulders, integrate your systems and streamline operations.

RPA in finance

PROVEN RPA DEVELOPMENT PARTNER

We are an Official

Read how we helped PRMG, a California-based mortgage bank, save $2M in just a few months with our Robotic Process Automation solutions.

We are Official

Read how we helped PRMG, a California-based mortgage bank, save $2M in just a few months with our Robotic Process Automation solutions.

RPA for Finance – What Can Be Done?

Automate Lending and Mortgage Operations

Automate loan signing, loan funding, recording, or disbursement and speed up the processes up to 500%.

Automate Financial Document and Data Processing

Process enormous amounts of structured and unstructured data (invoices, identity proofs, tax returns, contracts etc.) and move it automatically between systems.

Automate Customer-facing Processes

Automate processes such as customer onboarding, approvals or client service functions and provide your customers with fast, excellent experience.

Automate Compliance, Security and Risk Management

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

Integrate Financial Legacy Systems

Build interoperability with all your systems and tools, create automated data flows and never move data manually again.

Automate Lending and Mortgage Operations

Automate loan signing, loan funding, recording, or disbursement and speed up the processes up to 500%.

Typical RPA for Finance Missions:

 

We fuel with automation wide array of financial processes. But usually our work involve automating:

  • Data extraction, processing and migration
  • Mortgage and lending processes

  • Alerts Case management and fraud analysis

  • Anti-money laundering

  • Credit card processing

  • Invoice generation and processing

  • Data extraction, processing and migration

  • Mortgage and lending processes

  • Alerts Case management and fraud analysis

  • Anti-money laundering

  • Credit card processing

  • Invoice generation and processing

  • Insurance claims processing

  • Monitor and assess credit risk

  • Risk analysis, management and prediction

  • …any other repetitive process you can think of!

  • +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 and Banking?

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 Robotic Process Automation 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 Satisfaction for Your Team and Customers

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

Ensured Compliance and Safety

Ensure constant legal compliance of your processes and data management, hassle-free.

Reduced Errors and Improved 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 Interconnected!

Connect all your systems (including legacy apps) such as CRMs, databases, or helpdesk suites, to create one automated productivity machine.

With Robotic Process Automation 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.

Ensure constant legal compliance of your processes and data management, hassle-free.

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 all your systems (including legacy apps), such as CRMs, databases, or helpdesk suites, to create one automated productivity machine.

Test RPA for Finance!

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

Schedule a 30-min free consulting session and hear about solutions to challenges you are facing.

Why Flobotics for RPA for Finance?

Why Flobotics for RPA for Finance?

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.

  • 350%

    Average ROI increase from a single automation

  • 100+

    Successful RPA implementations

Proven RPA for Finance Services:

  • They continue to be responsive and helpful, even when we don’t have an active project with them. One of our platforms pushed an update that broke one of our bots, and Flobotics jumped in and made the modifications needed to get us back up and running within 24 hours.

    We'll never engage another partner for RPA work. We've found our partner for life!

    Zac Swartz

    COO at AmeriMac Appraisal Management

  • 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 RPA for Finance Publications

Payroll Process Improvement Ideas

Payroll Process Improvement Ideas You Can Implement

Michal Rejman, CMO

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, CEO

Top reasons why RPA and banking & finance work together well and best use cases overview.

Insurance Claims Processing With RPA

Bart Teodorczuk, Tech Lead

Why insurance claims processing is a perfect process for automation?

Try out RPA for Finance and Banking

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.

Process Automation
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What are finance automation solutions?2024-02-11T19:24:31+01:00

Finance automation solutions refer to software and technologies that automate and streamline financial processes within organizations. These solutions encompass a wide range of tasks, including invoice processing, payment reconciliation, expense management, financial reporting, budgeting, and more. By leveraging advanced technologies like robotic process automation (RPA) and artificial intelligence (AI), finance automation solutions improve accuracy, efficiency, and productivity in financial workflows, leading to reduced manual efforts, minimized errors, enhanced compliance, and better financial decision-making.

How can the finance automation process reach full compliance?2024-02-11T19:16:54+01:00

Achieving full compliance in the finance automation process involves several key steps. Firstly, it is crucial to conduct a thorough assessment of regulatory requirements and internal policies to understand the compliance landscape. Next, the finance automation system should be designed and implemented with compliance in mind, incorporating necessary controls, encryption, and access restrictions. Regular monitoring, audits, and internal controls help ensure ongoing compliance. Collaboration with legal and compliance experts can provide valuable guidance and ensure that the finance automation process aligns with all applicable regulations and standards to achieve full compliance.

What is automated financial management system?2024-02-11T19:12:14+01:00

An automated financial management system is a software solution that utilizes advanced technology, such as Robotic Process Automation, to streamline and optimize financial processes within an organization. It automates tasks like invoice processing, payment tracking, expense management, budgeting, financial reporting, and reconciliation. By automating financial management processes, organizations can improve accuracy, reduce manual errors, enhance efficiency, ensure compliance, and gain real-time insights into their financial operations, ultimately enabling better financial decision-making.

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