Companies automate their processes as much as possible

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To reduce service costs and improve the efficiency of their teams, many financial institutions are turning to robotic process automation (RPA). This “software robotics” involves automating repetitive, routine tasks that do not necessarily require human involvement. For example, RPA is used to collect data on customer behavior, analyze accounts, collect feedback, forward customer complaints, prevent fraud, etc. RPA can include chatbots that can process customer requests automatically, at any time of the day.

According to Gartner, 80% of leading projects in the banking and insurance facebook data sector have already implemented RPA in their business or plan to do so in the near future. By the way, such automation can reduce a company's operating expenses by about 30%.

It is also worth mentioning that the demand for regular technologies or RegTech (Regulatory technology) has grown. This tool provides accuracy, flexibility, speed and efficiency in the implementation of regulatory requirements and other regulatory measures. In other words, Regtech solutions use cloud technologies, machine learning and big data analytics to identify, prevent risks and monitor compliance with rules/legislation.