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Is RPA used by the industry in the region?

Asia contains two major financial centres, Singapore and Hong Kong, plus of course China. Banks there are certainly embracing RPA.

Many of these organisations are global multinational institutions that are using IT systems that were first developed in the 1980s and 1990s  – some even as far back as the 1970s –, and are creaking under the weight of increased regulation, growth of newer technology, demand for transparency, and the faster pace of modern banking.

«We have seen RPA shave up to 60 percent of bank operational costs»

Their systems are slow, are very difficult to automate, and run on out-dated code that few people understand anymore. Our RPA technology is able to be placed on top of these systems, with little to no disruption to the underlying code, and can get to work automating tasks, improving efficiency which lowers the cost of banking.

Is mass adoption coming?

RPA is growing in the region, a testament to that is Japan who has some of the biggest RPA deployments in the world, and we believe that a medium-sized private bank should have at least 100 to 150 robots working on administrative and clerical processes, with larger numbers for larger banks.

We have seen RPA shave up to 60 percent of bank operational costs, which is a game changer for many and allows them to compete with larger rivals. I believe that 2018 will be the year of mass adoption of RPA in Asia.