The financial industry is facing big challenges today in order to provide the highest grade of availability and security to its customers. Using AI and RPA financial services change.

Our world became digital. The consumers expect easy access to the bank accounts wherever and whenever they want to or need to. And of course, every transaction has to be safe in order to protect the sensitive bank data as well as the confidential information about the customer themselves.

To meet those expectations sustainably, the financial industry has to adapt new technology. The latest developments in AI and RPA are opening new ways and unique possibilities for the financial sector.

Roboter as adviser and expert in financial affairs

In the past, a bit of good financial advice was a matter of trust, of a stable personal relationship between the financial consultant and his – mostly long-term – client.

About 10 years ago Robo-Advisers entered the scene. Special algorithms made it for banks and other financial institutions possible to provide extended financial planning services with only little, or even without any, human involvement at all.

Now a new hybrid model is taking over. The Robo-Advisers and human financial consultants are working together to offer more guidance and better service to the clients. The customers benefit from algorithmic insights and analytics beyond human accuracy as well as from consultant`s professional and detailed advice.


Artificial Intelligence (AI) in the financial industry

AI is already being used by financial companies to offer better customer service to their clients. Especially the modern Chatbots improved significantly the financial customer care sector. Although the bots can’t solve the support cases independently yet, the AI is easily able to provide extensive help to the human agents by listening to the incoming calls and presenting all the needed information instantly. This way customer service agents can work more efficiently.

In the back office, the new generation of AI provides a reliable prognosis about mortgage loans, stock transactions, and even the company`s entire performance. This allows financial institutions to save money, time and to make good strategic decisions for the future.

Robotic Process Automation in the financial sector

RPA had changed the financial industry dramatically. All the repetitive, rule-based processes, that had to be accomplished by human workers before, has been transferred to progressive machines. And now such routine tasks as – for example – credit assessments, credit underwriting or fraud detection are being managed by robots, with only minimal human interference.

The efficiency of those assignments increased substantially since the machines can work every day around the clock, without pause, without vacations, and without sick leaves. In addition, the robots are accomplishing every task with ultimate precision. This way every human error, that usually comes at high cost in the financial sector, can be excluded entirely.

The companies benefit from the high accuracy and efficiency as well as from the human workers that can use their free time to accomplish more creative and more lucrative tasks now.

AI and RPA


AI and RPA have changed the way financial institutions operate. This is a change that will progress in the future even more. In order to use the new opportunities in the best way possible, it is important for the companies to have a professional and reliable partner on their side, a partner who can provide the needed insights and give excellent advice for the right decisions to be made.

Von Assia Werner

Online-Redakteurin für Technologie, Wirtschaft und Marketing