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PROCESS AUTOMATION IN FINANCIAL
SERVICES - A BOON TO THE SECTOR
Introduction
Process Automation in Financial Services - A Boon to the Sector
 KYC Documentation
 Consumer Onboarding
 Report Generation
AGENDA
1
2
3
5
4 Conclusion
The finance sector involves a lot of
mundane and repetitive tasks that can be
automated. Some of the major processes
that benefited from the use of robotic
process automation in finance are as
follows:
INTRODUCTION
PROCESS AUTOMATION IN FINANCIAL SERVICES
- A BOON TO THE SECTOR
KYC
Documentation
Consumer
Onboarding
Report
Generation
Know Your Consumer (KYC) is an uphill
task and the ideal process for
modernization since it is an extremely
data-intensive process. They can
extract the KYC information from excel
files and enter it with the help of
figurative bots.
KYC DOCUMENTATION
With the implementation of RPA, the entire
consumer onboarding process can be
made much easier since the bots can
capture the data from KYC documents
leveraging the optical character
recognition technique (OCR).
CONSUMER ONBOARDING
Traditionally, the compliance officers had to
read the reports manually and fill the SAR
form. Using natural language processing
capabilities, the figurative bots can read
through the lengthy compliance
documents, extract the required
information and fill the necessary details in
SAR.
REPORT GENERATION
CONCLUSION
Process automation in financial services has eased the
operations of the banking and other finance related
companies by aiding the routine functions of the industry. It
makes processes accurate, easier, and faster.
THANK YOU
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Process Automation in Financial Services - A Boon to the Sector

  • 1. PROCESS AUTOMATION IN FINANCIAL SERVICES - A BOON TO THE SECTOR
  • 2. Introduction Process Automation in Financial Services - A Boon to the Sector  KYC Documentation  Consumer Onboarding  Report Generation AGENDA 1 2 3 5 4 Conclusion
  • 3. The finance sector involves a lot of mundane and repetitive tasks that can be automated. Some of the major processes that benefited from the use of robotic process automation in finance are as follows: INTRODUCTION
  • 4. PROCESS AUTOMATION IN FINANCIAL SERVICES - A BOON TO THE SECTOR KYC Documentation Consumer Onboarding Report Generation
  • 5. Know Your Consumer (KYC) is an uphill task and the ideal process for modernization since it is an extremely data-intensive process. They can extract the KYC information from excel files and enter it with the help of figurative bots. KYC DOCUMENTATION
  • 6. With the implementation of RPA, the entire consumer onboarding process can be made much easier since the bots can capture the data from KYC documents leveraging the optical character recognition technique (OCR). CONSUMER ONBOARDING
  • 7. Traditionally, the compliance officers had to read the reports manually and fill the SAR form. Using natural language processing capabilities, the figurative bots can read through the lengthy compliance documents, extract the required information and fill the necessary details in SAR. REPORT GENERATION
  • 8. CONCLUSION Process automation in financial services has eased the operations of the banking and other finance related companies by aiding the routine functions of the industry. It makes processes accurate, easier, and faster.