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NGFCET001

Best Engineering & Management College in DelhiNGF College of Engineering & Technology (NGFCET) is being run under the aegis of New Green Field Educational Society, Delhi. The society is in the field of education since 1964. The college is approved by AICTEDTE, and Govt. of Haryana and affiliated to YMCA SCIENCE & TECHNOLOGY, Faridabad.The college is spread over 26 acres of land and located at 71Km stone on NH-2, Palwal,

Faridabad, Haryana(NCR Delhi). The Campus provides a pollution-free and very creative environment, where students can focus on their studies without any interruption. The campus houses world-class lecture theatres, laboratories, workshops & equipment.

The college offers B.Tech Courses in disciplines like Mechanical, Electrical, Electronics & Communication, Computer Science, Civil, Fashion & Apparel engineering and lateral entry directly to 2nd year (LEET), M.Tech courses in ECECSE & ME, BBA & MBA. We also offer additional short-term courses in Animation & Graphics (in association with Lifeway College, New Zealand) to our students to enable and equip themselves for employability. Foreign languages are being taught to improve their awareness in different communities and cultures

NGFCET001 Dec 20 '19 · Tags: technology
mallikarjuna rao

Artificial intelligence has become a word with a notable trend in many industries in recent years. Artificial intelligence is so popular that the International Data Corporation expects. As leading technology companies continue to attract investment Artificial intelligence, users will continue to see technology increasingly integrated into more and more products and applications. While Artificial intelligence technology has useful adaptations in health care, education, and finance sectors, it is the industry of mobile application development that provides one of the most promising areas.

 

The idea of ​​having a personal assistant to help fight against the daily tasks is to attract users everywhere. However, the potential for intelligent applications is growing far beyond PDAs. Today, mobile applications use Artificial intelligence to greatly improve user satisfaction.

 

There have been many technological improvements paving their ways to market development of traditional programs. One of these trends was artificial intelligence. an important question is, what difference your program or program development company do? Here is the solution. Not all companies have rooted progress in their development process. They follow the classic archaic procedures of this evolution.

 

You can be a part of if you do not mind and incorporate many of the changes and make your USP while introducing your organization to customers. The giant Google technology is also exceptional dope Artificial intelligence and released the kit Artificial Intelligence-based tools to help Android developers to create applications fast and efficiently. The boxes to the latest tools are equipped with Android jetpack to start and roll with all the best programs using Artificial Intelligence.



 Here's a list of attributes to be integrated AI-based:

 

1) Face Detection

The new iPhone chain thinking to confront ID to unlock the phone, it could be phenomenal Android is using the same. Face detection is essentially a computer technology used in many programs that not only identifies the individual faces but also present them in different settings. For programs based on security and people or objects monitoring applications, it is precisely what needs to be incorporated. Snapchat is just such a case the program that recognizes facial skin, allowing different filters and face exchange, but the Artificial intelligence ​​can perform much more.

 

2) Text Recognition

Recognition of text is essential to discover the texts presented videos or images and fetch in the networking files. When the text is found, we could proceed to understand the significance of the actual text, and then break it down into sections and showing the initial sort of the same.

 

This can be an extremely wise Artificial intelligence able to add Android applications. The development of another program can also be a fantastic alternative or deployments of an upgrade for this program with this attribute are greater. You will find programs that are set this text detection attribute as a common feature with various tasks.

 

3) Image Revive

He'll get a program used by programmers to assign an image tag for the images stored in the database. This is going to locate a single image of the image group. With the age and poses of the images and selfies, take a smartphone and it will be loaded with pictures. This attribute can be of great use for people of any section if teenagers or selfie enthusiasts are men and women of business, the labeling of the image is a most useful feature for all world. Labeling of the image mark images in a set of data that is predetermined, or zone or acute form or clever wise pixel or as recorded scenes. You can search for images from your memory and advantage.

 

4) Detection of Landmark

It is all about looking at specific points in an image. This is of great use in the field of study. You can search for photos in a laboratory or a classroom, or even areas such as India, Australia and in most regions like McDonalds or Subway. Users will be pleased to develop an Android app with this kind of Artificial intelligence attribute.

 

5. Magnified search engines

Text and voice were traditional search methods. But say you saw something you would like to buy, but you do not know what it's called or how to find it. Visual search helps you find what you want even if you do not know the words to describe it. The smartphone is the best launchpad for visual search technology.

 

In some cases, visual search is more accurate and faster than a voice or text search. Due to Artificial intelligence integrated into mobile applications, Android developers are required to develop an image recognition system and a voice recognition system. To increase the conversion rate AI provides localizing applications.

 

6. Real-time translation

There are so many applications that allow translation of the translation. However, most of these applications do not work without the Internet. AI could allow your smartphone to translate the different languages ​​in real-time without the need for an Internet connection.

 

Like a digital version of the interpreters is, artificial intelligence technology can provide simultaneous translation tool strings to translate almost instantly without delay. AI allows the translation tool to adjust the latency. This means a user can adjust the delay between the spoken word and its translation. This would be particularly useful for certain languages ​​that require a longer period for a better translation.

 

Gratitude to advanced artificial intelligence algorithms with machine learning and deep learning, we can look forward to a time when authentication becomes a smooth experience, allowing users to enjoy security without convenience negotiation. Artificial intelligence can be activated to provide alerts to users about possible threats. Artificial intelligence can also add a level of increase in biometric authentication, which makes it almost hack-proof. Another advantage of AI algorithms is that they can find and alert potentially compromised accounts in real-time


Fusioninformatics is one of the best AI development companies in Doha, Qatar, and worldwide, as we focus on the development of advanced technologies that help our customers stay ahead, we can develop in various AI-based mobile applications for your business.

 

We offer excellent machine learning and artificial intelligence services that allow your company to stay ahead in the competition and help drive more customers and a better return on investment. IT Fusion is one of the peaks of a Mobile app development company in Doha, Qatar offers artificial intelligence services to customer base includes machine learning, deep learning, Chatbot development services, business intelligence, and video, and text analysis and Robo-advisors. We are expertise in the development of AI solutions for the automation of business processes and implemented in our old customers and projects done successfully. Since 2000, we offer more than 1000 projects for over 500 clients worldwide.


To More Info:- 


Cost to develop bus booking app like Redbus 

Cost of app like practo 

Chatbot development service providers in Qatar 

Blockchain app development companies in Qatar 

Cost of app development like shaadi 

Ola mobile app cost in Bangalore 

Billy Mark

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More To Read

vignesh

Chip keys were just a passage into what was to come. The predominance of alert frameworks and camera reconnaissance pursued, and in simply the last couple years, the prominence of shrewd locks for homes has detonated.

Savvy locks can take numerous structures, all of which you've no uncertainty found in a TV advertisement if not, all things considered. Some require a numbered code for access. Others can serve as a camera. They can work connected at the hip with the other innovation in your home, from the lights to the indoor regulator.


A portion of it's the cool factor," said Jill. "A portion of it's the pattern. A portion of it's what every one of the neighbors have, therefore, 'I need one as well.'

Some legitimately need to ensure they see their children return home from school when they're grinding away or should most likely turn up the indoor regulator or watch mother or in the event that they have an older adored one at home. There's the same number of reasons as there presumably are items available.


Precisely how secure this innovation is has turned into a point of talk as these items are taken off. There's some explanation behind wariness, however as a rule, shrewd locks can be as much about common sense as security.

"Numerous things are keyless any longer. From that outlook, it is a pleasant component. A considerable lot of them are exceptionally secure, yet I would not venture to such an extreme as to state it's the most important thing in the world to the extent security is concerned.


For one, significantly more goes into keeping interlopers out of your home than a lock.

"You can put a $1000 lock on a wobbly entryway and you should have tossed your cash down the latrine, since it's not just about the lock you put on it," said Jill. "There's a ton more than goes into the security of an entryway than the lock."

Reed's Lock does no-commitment Auto Locksmith visits to clients' homes – frequently in the structure arrange – to survey their security needs. At exactly that point can Mark and his group figure out what bodes well. The upsides and downsides (of savvy locks) some of the time compromise with some place contingent upon the need of that individual or business and what they need," said Jill. "What you need may not be what I need. What highlights would you say you are searching for? What shading do you need it to be? How would you need it to work? What are your needs


In the wake of beginning as a side hustle in 1979, Mark went full-time into locksmithing. He and Jill – both Lebanon locals – in the long run moved into a greater house with a withdrew carport for the business. In the mid-'80s, Jill went full-time with Reed's Lock, as well.


At some point, Mark was driving one of the mark red Reed's Lock vans once more from a vocation when he saw a structure available to be purchased along Route 422. They went to take a gander at 700 E. Fundamental St that equivalent night.

vignesh Jul 3 '19 · Tags: technology
Billy Mark

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Related Article

Deep Das

Robotic Process Automation and Artificial Intelligence (AI) are two key technologies on the way to intelligent automation of processes. When assessing the value of these technologies in your own business, it is important to have a clear understanding of what they can and can not do. This article should help to sharpen the terminology and to clarify the strengths of the individual technologies and combined use.



Robotic automation process (RPA) is defined as the automated processing of digitized business processes by computer programs. The tasks may include queries, calculations, or the maintenance of input forms or transactions. Business processes are only repetitive and rule-based processes or routine tasks that are usually performed by humans. In process automation software programs take on the roles and tasks of the users and interact in the same way, which is why we also like to talk about software robots or bots. Examples from the insurance area are the handling and initial notification in the regulation of damage cases or the automatic data maintenance for registration and change processes with customers.


The strengths of RPA are, in addition to relieving the staff of routine activities, that automated tasks are carried out faster, error-free, reliable and thus highly profitable. Unfortunately, the robots used are only as good as their underlying rules and thus completely deterministic. They are not able to react flexibly to deviations or variants, for example, if process input data are not clearly structured or if decisions within the process are complex and non-linear.


AI uses a probabilistic approach. By mitigating the caveat that robots need structured data as input, Artificial Intelligence can help transform data streams with many degrees of freedom into a structured format. Are the input data unstructured or only partially structured - eg. B. different invoice layouts of different suppliers, but which largely contain the same information - can be transformed by means of artificial intelligence methods such as deep learning or alternatives of machine learning this data stream in a structured format, even if the text is written in free-form language

Addressing complexity constraints in decisions (be it a machine learning model or a rule engine) can make the RPA process more flexible and overall. Corresponding programs often work with multiple subsystems and different techniques, which store knowledge and experience of experts in an internal knowledge model. This model is then queried during decision making to find the optimal answer. Such an approach can look at many different input variables, each with their individual impact or weighting, to condense it into an end result, e.g. For example, whether a loan application should be approved on the basis of many parameters. An essential difference between the procedures lies in the desirability or comprehensibility of made decisions. As a rule, good results can already be obtained with decision tree methods and without hard-to-interpret methods such as deep learning. Finally, the combination of RPA and AI allows for a very flexible approach to process automation, which can vary depending on the target direction.

In the end, both technologies are perfect pairs as they complement each other very well due to the different focus, so that they merge from the user's point of view into Intelligent Automation (IA).


Customers of the FeatSystems understand the value of Robotic Process Automation, and they like to automate simple, rule-based processes, the so-called "low hanging fruits," to take advantage of RPA, which usually takes a few weeks to complete at a manageable level of complexity and cost, In doing so, our customers implicitly take the first step on the stairs towards intelligent automation and are especially accompanied by the introduction of AI methods by the Feat when going through various integration stages from parallel operation to sustainable AI automation. You can find out more about possible integration levels and potentials of artificial intelligence for your company.

Deep Das
What is Process Assessment Tool?

Process Assessment tool is an intelligent tool that is developed using Robotic Process Automation (RPA) & Artificial Intelligence (AI) components, it can identify the processes and make automation recommendations as per required. The results show the complete process visibility and percentages.

Process Assessment Tool crunches the data, suggesting the best candidates for automation and calculating the time and (Full-Time Employee) FTE money that could be saved. Process Assessment Tool is a gift to many companies and organisation that are stuck at the point were to implement RPA. It saves time and money that many consulting companies take before implementing RPA.


What leads to RPA failure?

Robotic Process Automation (RPA) process is a software tool used to accelerate human repetitive and Rule-based work which is high-value low profile work. And many organizations and financial institutions are facing RPA failure in the companies as of low Return of Investment (ROI) and very Complex Process. Many companies hardly get to know about ‘what process to be automated?’ which leads to failures. And RPA is benefiting but the process which is being automated should be perfect for Automation.

 Why use Process Assessment Tool?

Process Assessment can pin out the complexity in the specific process of RPA and give the result in words. Process complexity is checked on the basis of standard input, application type, no. of screens, and VDI/Citrix. Process Assessment can calculate the full-time employee (FTE) money per hour. The calculator estimates the hours saved by RPA by working in place of Full-Time Employees into the money saved. It also calculates the benefits of having RPA in your company. Process Assessment gives the results and recommendations of RPA in your company.

How Process Assessment will work?

Complete processing processes will be performed by robots (themselves controlled by other PLCs to verify the proper execution of the processing). Process Assessment work on parts that gives;

  • Immediate Results for Immediate Return of Investment (ROI): Our Process assessment tool analyzes the data and understands more quickly, and gives immediate recommendations and Options.
  • Complete Process Visibility and Results: Process Assessment tool goes through all your business processes and requirements – including the most and least common alteration. With a complete blueprint of your processes, it’s easier to recognize and analyze the most efficient paths and discover opportunities.
How to access Process Assessment Tool?

Process Assessment Tool can be easily accessed through our website which gives results in minutes; you just have to provide the needed data or information about the process that you want RPA to work. If in the Results it shows that; low hanging fruit it means this process will not give the quick and desired results; long term improvement it means the process is complex and needs changes or less complex ways to Solve; Quick win it means that this process can be automated right now contact the RPA providing company.

What processes can be automated?

The process which is less complex and is run on Rule-based steps can be easily automated. You can check ‘What processes can be Automated’ through Process Assessment Tool. It gives the Results in Quadrant to ‘how much Full-Time Employee (FTE) savings will be done’ and ‘how much is the process complexity’. You can check all the processes you think that needs to be automated.

 

Process Assessment Tool benefits:

 

  • Cost savings can be done through RPA in terms of FTE (Full-Time Employee) reduction, as Process Assessment Tool also gives the results of FTE savings.
  • Business acceleration can be done through RPA by enabling the business to act at a faster pace than earlier. As Robots work in place of humans, so the process will be done seamlessly in less time.
  • Quality improvements and Error reduction – Robots are working in place of humans it will improve the Quality and also configured 0% Error rate.
  • Compliance – Process Assessment Calculator has the ability to comply with regulatory requirements.
  • Flexibility – Expected to fasten the volume in future, Robots enabling flexibility to scale up and scale down as per required.
  • Customer Satisfaction – Automation leading to customer satisfaction and better customer experience (Eg. Contact center automation, resolving all customer inquiries at a faster pace; going through all multiple applications as real-time).
  • Productivity Gain – Increased volumes processed in limited unit time with the decrease of the turnaround time and Average Handle Time (AHT) Improvement.
Chirag Bhayani

In Customer care services, the employees have to interact with customers on behalf of the organization. They give the needed information about merchandise and its services, respond to customer complaints, take orders, and process the return goods. Many customer service employees work in customer contact centers. These tasks are tiring and time-consuming, which requires a lot of Full-Time Employees (FTE).

So, many customer care companies and organization are opting for RPA in their company, to ease the workload and increase productivity. Robotic process automation (RPA) is the operation of technology that allows employees in a company to set up computer software or a “bot” to capture and decode existing application for further processing a transaction, manage data, triggering responses and interacting with other digital systems in real-time.

In customer services, there is a history of lakhs of customers getting annoyed with the improper services from the company, and it burdens the employees with a lot of workloads which results in depressed employees. This reason does not help in the business of the customer service companies and organization in getting better productivity and results.

But RPA has the solution to these problems of customer service companies in getting good productivity in better quality and quantity with satisfying customers and employees. RPA just helps the companies to optimize their operational tasks which are time-consuming and complex to find in seconds.

RPA helps customer care companies in processes like;

  • Billing customers

Sometimes customers are stuck at billing process, so they contact customer care to get their billing process get done quickly. The customer care employee helps and guides the customers in their billing process and completes the interrupting process through their employee user ID as connecting directly to the company’s server. RPA helps the employees in these tiring and repetitive works.

  • Closing fraudulent accounts

There are cases; where people are scammed and their accounts are used by someone fraud, so customers get in touch with customer care in order to close their account. But through RPA this process gets easily done in a few minutes.

  • Order processing

This task or operation is associated with the collecting, packing and transporting of the packed items to a shipping carrier. This process needs employees to keep the check on the proper quantity of collection and packing is done, and then sending the report after the confirmation is done to the specific business unit through email or via message. After automating this process RPA sends the notification to the unit and the customer after getting the report on proper collection of transporting goods and also gives a real-time tracker of transporting goods.

  • Compliance reporting

It refers to the reports generated by companies and organizations in order to abide by rules, laws and regulations, standards, set by administrative bodies and government agencies. Failure to comply means businesses are subject to administrative penalties, including fines, lawsuits, and even imprisonment.

  • Resolving disputes

There will be hardly any disputes between a customer and RPA because RPA will provide the needed information as per need of the customer through Chatbot which will be one of the RPA processes in customer service.

  • Sending shipping notifications

After implementing RPA in the company, RPA is rule-based software which default sends the notification to the specific business unit and the customer about the product location or stage. It has a specific operation step which includes notifying the progress of the shipment.

  • Updating client profiles

RPA has a step that involves updating the client about their delivery and shipment, it also has an order tracker that notifies where the delivery has reached. This process was not properly simulated by a human employee, which often brought complains and disputes from customers.

Conclusion:

RPA in customer service is a benefit to the employees and the company as well as a customer. RPA gives the freedom to the employees to be free from boring and repetitive work that keeps on burdening, and it benefits the company through the great increase in productivity and giving a return on Investment (ROI) and at last, it provides the customer less waiting time which gives perfect customer satisfaction.

RPA implementation in customer service companies and organization is the best advance solution, which enables the door of the seam-line business to process.

Visit- www.amazingrpa.com


Deep Das

Original RPA projects present, “if you don’t give proper attention to the minute details of the RPA implementation then there is a 1high chance of RPA failure of your company.” See what RPA consulters and experts recommend while making RPA projects a success.


  • Create realistic expectations

The famous Quick wins with RPA (Robotic Process Automation) can be easily available if you automate the right process for automation. Assembling a scalable RPA ambiance on a larger scale can quickly lead to a complicated endeavour. Many disputes arise in larger projects are due to impossible expectations. All the buttery promises to clear cultural adoption topic of RPA before its implementation play its part. Many RPA consulters advise RPA leaders to take a cautiously positive approach, combined with more conservative goals.


  • Do not just think about the costs

Generally, RPA projects are deployed to reduce costs or increase production. And many companies and organization are implementing RPA for better customer experience. Credit card (CC) Company, for example; there are millennial of employees for customer service agents, yet there are many customers who will be still annoyed about long waiting times on the phone. And a chatbot (chatting robot) could diminish these waiting times and could also offer other advantages as well: the bot will never get sick; it will be available to the customers 24/7 and will not convey any gloomy moods on the phone with the customer.

  • Integrate the IT organization at an early stage

In many companies, with the development of computing, “Citizen Developers” often starts RPA processes directly in the specialist departments without deep technical knowledge. RPA consulter’s advice business leaders to integrate their IT organization from the beginning, only then they could assure that the process which they want to automate is really a quick win.

image

RPA deployment
  • Pay attention to design processes and change management

The reason for many RPA projects fails because of poor design and change management. In an effort to deploy the RPA system as quickly as possible, many companies and organization often overlook the necessary exchange of information between the various bots (robots). This allows a business process to collapse quickly instead of running seamlessly. Before implementing RPA, one should have clear insights about it as it needs to define exactly how the different bots work together. IT leaders should consider proper conclusion for the entire system and its basic process before launching an RPA project.

  • Do not tamper with the data trap

Many banks set up several thousand bots (Robots) to automate their data entry or supervisor software operations, therefore huge amounts of data and information is generated. It’s common for companies to use machine-learning algorithms to calculate the data collected by the bots. In the further step, provide employees with a chatbot, which they could use to easily calculate data queries. Thus, an RPA project swiftly turns into a complicated machine learning project without the necessary comprehensive planning. It’s recommended to acknowledge RPA as a long-term project and to plan accordingly.

  • Project governance must have the highest priority

Frequently companies failed to prepare for potential problems in the RPA planning process. For example, an employee of a Customer service changed the company’s password policy and conditions but forgot the necessary customization of installed software robots. The result is data loss; such cases could only be prevented (blocked) by regular checking and testing of RPA. Companies should install a supervising and alerting system that quickly recognizes problems and performance, hindrance makers.

  • Remember compliance checks

A single software bot (robot) can elevate the number of agreement issues in the company. This may sound basic, but RPA bots should have regular check mandatory (as is it working properly or not). Therefore, it’s essential for RPA projects to include in other fields such as the human resources (HR) department in order to avoid drawback in terms of the agreement.

  • Do not forget the impact on the employees

Occasionally, companies’ focus on the new innovative RPA world so much that they simply neglect the importance to bring the human resources (HR) department on board. In a company, RPA projects, in particular, can have an enormous impact on employees’ work processes and their workflows.

  • Integrate RPA in the development process

In the end, Team leaders assimilate RPA into the whole software development process. Otherwise, they took a chance of making their Robotics systems useless with the next considerable software launch. There is no such thing as a clear-cut solution for successful RPA projects. RPA must share a role in the long-term corporate strategic plan. At the same time, those accountable should always keep track of the bigger goal of automation. It is essential to perform business processes faster and seam-less to make them scalable.

We in Feat systems believe that RPA failures can be prevented by using our Process Assessment Tool which is free (cost-less) for everyone and can be easily accessible through our Website.

Process Assessment Tool benefits:

•Immediate Results for Rate of Interest (ROI): Our Process Assessment Tool analyzes data and understands more quickly, with immediate recommendations and Options, for you to get the ROI of automation faster.

•Complete Process Visibility and Results: Process Assessment Tool pin-points all your business processes that require the most and the least common alteration. With a complete insight into your processes, it’s easier to identify and analyze the most efficient methods and discover opportunities that you may have failed to notice.

Increases flexibility: You can operate the Process Assessment Tool anywhere, anytime, to check the eligibility of the work process that you want to automate.

Chirag Bhayani
RPA Banking sector

RPA is growing rapidly. In Recent RPA trends and anticipation dispatch shows that by 2021, RPA will be a $29 billion industry. That’s an immense increase from $250 million in 2016.

In order to remain competitive in Banking Industry which is an increasingly saturated market – especially having an expeditious adoption of virtual banking – other banking firms have had to find a way to deliver the finest possible account user experience to their customers. Internally, the challenge was to maximize capability and keep costs as low as possible while maintaining maximum security levels.

In this banking industry, Robotic Process Automation (RPA) has become an influential and effective tool. The transactions in banking are offering financial services, repetitive & manual operations, and mixed systems environment while RPA provides process efficiency and lowers costs while ensuring regulatory compliance and deeper analytical insight of financial services. RPA enhances banking activities that engage customers in real-time, by increasing efficiency, quality, and productivity.

RPA helps the bank in these banking services; Customer Service, Compliance, Accounts Payable, Credit Card and Mortgage Processing, Fraud detection, KYC, General Ledger, Account Closure Process, Underwriter Support Deposits 

Handshake in banking industry

RPA in banking customer service

In banks, there are multiple works that usually content of repetitive operations. 

And customers’ demands everything to be given to them as soon as possible. Whether it is getting a fixed deposit done, opening an account, etc.  Banks deal with multiple queries and problems every day, everything from customers accounts information to their application status to balance information and process their request. It becomes difficult for bank employees to respond to their queries in less time. But RPA can automate such processes to respond to the customers’ queries in real time and reduce the turnaround time to seconds, allowing humans to be free for more critical tasks.

RPA in KYC

Know Your Customer (KYC) is an important process for every bank's customer. This process includes 1000 to 5000+ employees to perform necessary checks on the customers. As RPA increased accuracy, banks no longer have to worry about the employees and the KYC process can be completed with minimal errors and staff.

RPA in Fraud detection

While using the digital system, one of the major problems for banks is fraud security. It’s really difficult for banks to track all the transactions of a customer and to flag the possible fraud transactions. Whereas RPA can track the transactions and give caution for a possible pattern of fraud transactions in real-time reducing the delay of notice. 

General Ledger

It is also important for the banks to keep the general ledger updated of customers with information like financial statements, assets, liabilities, revenue, expenses, and revenue which is needed for financial statements, as handling and verifying the financial statements easily ends in many errors. RPA can independently integrate data from multiple legacy systems and prepare it in the required format. This reduces the huge amount of data handling, verifying errors and time.

Credit Card processing

A normal credit card application and Mortgage processing used to take weeks to validate the customer information and getting the application approved. The long waiting time will be an annoyance to customers and cost to banks. However, with the help of RPA, banks now can process the customer’s application within hours. RPA can converse with multiple systems simultaneously to validate or verify the information like required documents, credit checks, background checks and take the decision to approve or disapprove the application.

Mortgage Loan processing

It usually takes approx. 45 to 50 days to process a mortgage loan. Process of getting a mortgage loan approved goes through various checks like credit checks, repayment history, employment verification, and inspection. A small error can slow down the process. The process is based on a specific set of rules of verifying and checking. RPA can accelerate the process and clear the errors which will reduce the processing time to minutes from days.

Extreme benefits of RPA in Banks

Robots don’t even need a break. Banking robots can do work 24/7-365 days per year. Banks don’t have to give the robots overtime pay or health insurance or worry about them quitting. 

As being in the place of the human, robots have the least possibility of getting the error in banking activities, Robots don’t ask for any promotions like a human. A robot regularly explores the accounts of the customers concerned, including outside office hours, and thus allows efficient handling of cashing cases.

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