Blue Prism reveals untapped opportunities of RPA adoption in financial services industry across APAC

Financial services industry has become a hotspot of digital innovation, driven by changing customer expectations, heightened competitions by new entrants and incumbents, stringent regulations, and technological advancements. Embracing the digital world is a strategic imperative to ride the economic recovery wave and build business resiliency. The pandemic exposed many productivity gaps between companies that adequately invested in digital platforms to continue business operations with a remote workforce, and those who were still reliant on manual processes.

In a recent survey commissioned by Blue Prism, it was found that while there is growing momentum in automation efforts by organisations across Asia Pacific (APAC), there is also significant disparity of robotic process automation (RPA)  adoption within Asia Pacific’s financial services industry. While Australia leads the way with 78 percent of organisations currently using RPA solutions and technologies, India is second with 49 percent, followed by Hong Kong (47 percent), Malaysia (44 percent) and Singapore (28 percent).

With only 34 percent in Singapore and 50 percent in Malaysia of respondents indicating familiarity with RPA, there is potential for better comprehension and perception around this technology. This is in comparison to 85 percent in Australia, 82 percent in Hong Kong and 75 percent in India.

Robert Dewar, Vice President, Financial Services, APAC, Blue Prism, said: “While RPA adoption across global industries grew at tremendous speed, this report revealed the disparity of RPA adoption within the APAC financial services industry, indicating a long roadmap before the region reaches RPA and Intelligent Automation maturity. Presently, the use of RPA adoption remains largely a tool to improve efficiency and cut costs, rather than a catalyst to accelerate digital transformation. As markets look to scale up enterprise RPA and Intelligent Automation deployments, our aim is to empower companies to fulfill their vision for strategic business automation and achieve faster, better organisational outcomes.”

After enduring the last two years of the pandemic, many financial institutions have relied on digital technology to take them to the next level. And the foremost thing they relied on is automation. However, with changing customer needs and accelerating digital transformation, financial firms must maximize the use of intelligent automation to give them the edge they need ahead of competitors.

To help financial firms leverage technologies for business growth, Asian Banking & Finance has partnered with automation solution leader Blue Prism on its latest webinar Accelerating growth post-covid with Intelligent Automation.

In this webinar, Blue Prism will discuss how automation is the key to driving digital transformation, to unlock new revenue and deliver superior customer experience as well as hear from Standard Chartered how they are using technologies to automate, scale, enhance client experience, achieve business goals and future-fit their organisation.

Leading the discussion will be Blue Prism Vice President of Financial Services in Asia Pacific Robert Dewar.

Robert has more than two decades of experience as a senior executive in the enterprise technology sector across Australia, New Zealand, and Asia. He brings broad expertise from multiple industries, with specific focus on Intelligent Automation, governance, recovery and risk management, financial crime management, digital and core banking modernisation engagements.

Robert and his team have worked closely with senior leaders across the financial sector to help them understand and identify their new opportunities for leveraging Intelligent Automation.

Sarabjit Anand, CIO of Singapore and ASEAN markets at Standard Chartered will be joining the conversation to share how they are leveraging on intelligent automation in the bank.

In his role, Sarabjit leads teams across the Standard Chartered network to enhance the Technology Service framework. He is instrumental in the development and implementation of the Bank’s digital and technology strategy for the Singapore and ASEAN markets. Sarabjit has also led many digital banking initiatives for Singapore and is involved in many of the Bank’s key global innovative projects. 

Sarabjit has a deep understanding of regulatory frameworks and development across multiple markets in Asia and has worked closely with regulators in Singapore and Hong Kong.

The webinar is on 12 April 2022. For more information, please click this link. You can register for the event here.