Volume 11 - Volume 11
A Study to Identify the Possibilities of Implementing Robotic Process Automation for the Processing of Loans in Banks
Abstract
Today, various studies are going on in every part of the globe to minimize operational costs, increase
efficiency, and improve the Return on Investment by almost all organizations. Technology is one of
the key factors that aid in the change process happening all over the world. Today, organizations are
ready to implement any technology to help them maintain their market position in this highly
competitive environment. Robotic Process Automation is a technology that could be considered of
prime importance. It can solve these issues in an organization once it is implemented efficiently.
RPA finds use in those organizations. The amount of manual processes is more, and the works are
repetitive and time-consuming. Financial institutions are among those organizations that can take
advantage of having RPA improve their operational efficiency. Financial institutions contain a lot of
manual and repetitive tasks in several departments. This paper is based on the study conducted to
find out the key areas in which RPA can be implemented so that it helps the financial institutions to
make their lending process easier.
Paper Details
PaperID: 2574
Author's Name: Varsha Menon and Avinash Aslekar
Volume: Volume 11
Issues: Volume 11
Keywords: Robotic Process Automation (RPA), Banks, Loan Processing, Return on Investment, Efficiency, Time Consumption, Repetition of Tasks.
Year: 2021
Month: September
Pages: 5486-5500