Gathering and monitoring the information needed for fraud detection is a laborious process for employees if done manually. RPA software robots reduce the employee involvement needed, by tracking bank account and credit card activity in real-time. By identifying data patterns, RPA can assess customer risk and predict fraudulent activity.
Imagine having a robot join a compliance office as a virtual member of the staff, and charged with all repetitive compliance tasks. It’s possible, and it’s already happening. All of this, while freeing up real staff to focus on compliance responsibilities requiring reasoning and judgment. Every activity of every UiPath software robot is saved in a central log where it can be monitored regularly, easily accessed in the event of audits, and updated to reflect changes in regulations. This is the answer to the KYC requirements that the FMA, FCA, and SEC are beating down your doors for. A central repository archives all the logs and can be easily mined by ElasticSearch (our big data analytics platform built right into our robots) for compliance reports, resolutions, audit responses and compliance improvements.
UiPath’s finance workflows can be replicated or reused across different business departments locations for ease of scalability. Active robots can be scaled up or down as needed with no additional cost. A single server accommodates multiple users working autonomously and privately from any business unit, no matter the geography. Our uniquely scalable platform also allows you to place multiple robots on a single virtual machine. RPA is all about doing more with your investment.
UiPath provides better financial performance through insights from data analytics. RPA is not only a tool for non-invasive extraction of legacy data for wider and deeper analytics. It also provides granular data points for each process it executes. It can identify transaction patterns and help detect fraud. And everything comes directly with automation, there’s no extra service or app you pay for separately.
UiPath interacts with the presentation layer in a human-like manner and is compatible with most existing IT setups. UiPath can be easily implemented with the existing web, desktop, CRM, ERP, Helpdesk, and Citrix applications. This is why RPA implementations are faster than IT automation projects, significantly less expensive and will create triple digit ROI’s in the first year of operation. Our personal best: one client achieved over 850% ROI.
You want your best people freed from those redundant, data entry type of tasks, and re-focused on higher-value activities. Have their work worth more, both for them and for your organization.
Many finance companies still regularly engage with paper invoices, purchase orders, and applications. With UiPath’s advanced optical character recognition technology (OCR), RPA software robots are able to interpret scans of paperwork and transfer data into digital formats in a more efficient manner. And now, with cognitive features like language detection, named entity recognition, and sentiment analysis, automation can meet the demands of complex decision making.