This lesson examines RPA, a technology that creates software “bots” to automate manual, repetitive tasks.

7.1 What is RPA?
Robotic Process Automation (RPA) is a technology used by banks to automate manual business processes so they can remain competitive . RPA bots perform repetitive, rule-based tasks that were previously done by humans . Banks use RPA to automate tasks like data entry, KYC checks, customer service workflows, and back-office reconciliation .

7.2 Applications of RPA in Banking

• Data Entry: Moving data between different systems without manual re-keying.

• Reconciliation: Automatically matching transactions across accounts.

• Compliance: Automating portions of the KYC/AML process to reduce human error.

• Customer Service: Automating the creation and closing of service tickets.

7.3 Hyperautomation and IA
RPA is often a stepping stone to more advanced automation. When combined with AI and Machine Learning (ML), RPA can handle more sophisticated processes with higher accuracy, a concept known as Intelligent Automation (IA) or Hyperautomation . For example, an RPA bot could be integrated with an AI model that uses sentiment analysis to understand a customer’s frustration and escalate a case appropriately .