Paper Info
Title
Robotic process automation in banking industry: a case study on Deutsche Bank
Abstract
Robotic process automation (RPA) is a software robot technology designed to execute rules-based business processes by mimicking human interactions across multiple applications. As a virtual workforce, this software application has proven valuable to organizations looking to automate repetitive, low-added-value work. The combination of RPA and Artificial Intelligence (AI) is called CRPA (Cognitive Robotic Process Automation) or IPA (Intelligent Process Automation) and has led to the next generation of RPA bots. It has been transforming the banking industry by making the core financial operations exponentially more efficient and allowing banks to tailor services to customers while at the same time improving safety and security. Although intelligent automation is enabling banks to redefine how they work, it has also raised challenges regarding protection of both consumer interests and the stability of the financial system. This article presents a case study on Deutsche Bank’s successful implementation of intelligent automation and also discusses the ethical responsibilities and challenges related to automation and employment. We demonstrate how Deutsche Bank successfully automated Adverse Media Screening (AMS), accelerating compliance, increasing adverse media search coverage and drastically reducing false positives. This research contributes to the academic literature on the topic of banking intelligent automation and provides insight into implementation and development.
Year
DOI
Venue
2021
10.1007/s42786-021-00030-9
Journal of Banking and Financial Technology
Keywords
DocType
Volume
Intelligent automation, Banking automation, Robotic process automation (RPA), Cognitive robotic process automation (CRPA) or Intelligent process automation (IPA)
Journal
5
Issue
ISSN
Citations 
1
2524-7956
0
PageRank 
References 
Authors
0.34
3
2
Name
Order
Citations
PageRank
Alice Saldanha Villar100.34
Nawaz Khan200.34