Role of Intelligent Process Automation in the Banking and Financial Services Industry
Kanchan Gulabsing Rajput, S. C., Muthu Aravinthan Muthu Lingam, Durairaj Duraisamy, Chittimalla Bhargavi, M. Sravanthi, S. E. Mahrinasari · Advances in computational intelligence and robotics book series · 2024
The banking and financial services industry is experiencing a transformative shift due to intelligent process automation (IPA) technologies. This chapter examines how IPA is revolutionizing operational processes, enhancing efficiency, accuracy, and customer experience. Through a literature review and case studies, the authors explore IPA techniques such as robotic process automation (RPA), artificial intelligence (AI), machine learning (ML), and natural language processing (NLP) in customer service, risk management, compliance, and back-office operations. The benefits and challenges of IPA implementation are highlighted, emphasizing strategic planning, stakeholder engagement, and organizational readiness. This chapter provides valuable insights and practical guidance for banking professionals, policymakers, researchers, and industry stakeholders aiming to harness IPA for operational excellence and sustainable growth.