Pintec Joins Hands with International Technology Giants to Set Up Innovation Center for the Adoption of Robotic Process Automation in Financial Market

Pintec, Robotic Process Automation, Financial Market
Pintec Joins Hands with International Technology Giants to Set Up Innovation Center for the Adoption of Robotic Process Automation in Financial Market

Pintec Technology Holdings Ltd. a leading independent fintech solutions provider, announced the establishment of an Innovation Center in Shanghai to promote the adoption of Robotic Process Automation (RPA) in financial institutions. Pintec will cooperate with several RPA giants such as Automation Anywhere and Blue Prism to help financial institutions drive digital transformation with RPA. Recently, Pintec assisted with the deployment of an RPA system for the Hong Kong Stock Exchange (HKEX) to help them realize process automation in human resources, finance, and other office works.

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The large market opportunity for the application of RPA in the financial field

RPA is an application, governed by business logic and structured inputs, aimed at automating business processes. Using RPA tools, a company can configure software or a “robot” to capture and interpret applications for processing abundant repetitive and rule-based works. RPA can be applied in multiple sectors including finance and tax, data analysis, risk management, customer services, IT, HR covering lots of critical industries such as finance, internet, education, manufacturingetc.

According to the Report on Robot Technology and Functional Automation: A Combination of Human Power and Machine released by EY in February 2019, the combination of RPA and AI will bring explosive growth to the financial industry. Financial institutions such as a bank, securities companies, and insurance companies have achieved a high level of informatization, which is easier to adopt RPA technology than other industries. Currently, many large financial institutions are applying RPA tools in credit, insurance, and wealth management fields, which cover key operational processes including KYC, loan processing, transaction execution, account processing, auditing, customer services, human resources.

With the development of AI technologies, the combination of traditional RPA and AI is able to realize end-to-end process automation without considering the current system environment, which can highly improve the efficiency of financial services.

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Pintec’s significant strengths to facilitate the application of RPA in the financial field

Pintec has established cooperative relationships with large international RPA services providers such as Automation Anywhere and Blue Prism. Leveraging their mature products to combine with Pintec’s strong capabilities in artificial intelligence technology development and in-depth understanding of financial business, Pintec will provide financial clients with comprehensive RPA technical support in system counseling, deployment, implementation, and license acquisition.

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