RPA for Future Readiness
Digital Risk is term encompassing all the digital enablement's that improve risk effectiveness and efficiency. RPA addresses the digital risk of future readiness
Risk and Compliance Area
- RPA Adoption is needed in early state
- Judgement based on the use cases
- Limits the breach management
- Risk Data Quality Management
- Good Cognitive RPA is essential
Benefits of RPA Implementation
- Banks achieve compliance
- Control over End User computing and EOL processes
- 40% RPA in banking sector to be enabled sooner
- Block Chain solutions provide 100% Secured transactions
- No Integrity breach is easily possible
RPA handles Human Side Automation
- Considers human point of view
- depends on human intellectual needs
- Different in terms of scaling and cognitive capabilities
- Need to start small process and to move gradually towards complicated ones
- Success rate of pre-programmed RPA are only 40% and need to be customized
- Upskilling is needed
- RPAs future depends on scaling of particular module
- Artificial intelligence is future RPA
Risk in RPA
- 100% success rate is not possible
- Improper implementation
- Over Intelligence
- To be only a support tool and not a supplement tool
Image Courtesy:https://www.processmaker.com/
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