Robotic process automation (RPA) is a type of process automation technology based on the notion of software “robots.” While RPA can be an improvement over more basic technologies, it is not as advanced as other emerging technologies, such as artificial intelligence (AI) or machine learning. RPA is making a fintech solution attainable for firms of all sizes and in a timely manner. RPA is also meant to work with other technologies, often acting as an intermediary between legacy systems and new fintech offerings. And, RPA can be used to increase oversight and decrease risk, always an area of importance in financial services.

Inside this note, we analyze: what RPA is and what it is not, take our members’ pulse through an anonymous survey and identify opportunities for RPA in financial services.

Authors

SIFMA Insights

Katie Kolchin, CFA
Senior Industry Analyst

Technology and Operations

Tom Price
Managing Director

Charles DeSimone
Vice President

See Also:
OPS 2018 Debrief