Robotic Process Automation is Not Being Adopted by Banks

More than 60 percent of community banks are not even considering using robotic process automation (RPA) according to a new study by Cornerstone Advisors; the technology is easier to implement than most AI based technologies and can save banks money in a quick time frame; most banks who have started to use the tech are only taking slow steps and it is rare to see a bank that uses RPA at scale; Seacoast Bank in Florida uses the technology for merger integrations and international operations, taking advantage of RPA has allowed them to keep costs flat over the last two years. Source.

  • Todd Anderson

    Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.