Let’s Talk Payments (LTP) is a proud partner of this year’s Money20/20. Combining the best of LTP and Money20/20, we wanted to highlight the technologies changing the FinTech ecosystem. We created exclusive infographics based on MEDICI’s FinTech Foresights.
Robotic Process Automation (RPA)
Financial institutions are held back by unproductive, repetitive manual processes. RPA presents a strong case to help promote digital transformation with its ability to drive productivity growth by automating repetitive, rule-based processes that can integrate with the current applications and systems in a non-invasive manner. This lightweight integration enables easy implementation and quick ROI.
RPA is expected to have a $6.7 trillion global economic impact, a plan that will result in a 40-45% growth of global spending on technology. In addition, the estimated global market potential of RPA stands at $8.75 billion by 2024, with the following areas undergoing significant impact:
- Bank office automation
- Finance & accounting
- Risk management
- HR & admin
More information on the potential of RPA across industries and examples of prominent players in the market can be found in the infographic below.
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