Rand Merchant Bank introduces robots into the bank
RMB is digitising its operations using the latest advances in process automation
As part of its strategy to stay at the leading edge of innovation, Rand Merchant Bank (RMB) is focusing on robotics as one of the ways in which to improve the bank’s overall performance and help digitise operations. Because robots can master repetitive tasks currently performed manually, they are suitable for many of the processes conducted by employees, particularly in back offices. Robotic process automation (RPA) is the software technology that automates manual, repetitive and mature processes, making them faster, more cost effective, and often with a return on investment on the software and systems within about a year. Robotics is also easily adopted to automate high-risk and compliance-focused processes due to the robot’s ability to process at zero defect. Being a non-integrated software system, robots are also easy to introduce to the bank’s existing IT systems. As they are “code free”, robots service the businesses in the bank rather than trying to comply with an IT system. C...
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