Description
New Century Publications Banking Robotic Process Automation RPA and Cyber Security by V Vimala
Information technology (IT) has transformed the banking sector globally. Banks are using electronic and telecommunication networks for delivering a wide range of value added products and services. The present book encompasses a wide range of facets, including: (i) digital banking, payment systems, mobile banking and transaction apps; (ii) robotic process automation (RPA) in the banking sector; and (iii) banking frauds, cyber security and data protection.Technological revolution in the field of electronics and telecommunications has helped bring about sophisticated developments in the payment systems of many countries. Banking sector in India has been a major beneficiary of the inroads made by information technology. Many new processes, products and services offered by banks and other financial intermediaries are now IT-centred. Effective integration of technology with sound business practices requires business process re-engineering. Most of the initiatives regarding technology are aimed at providing better and more efficient customer service, by offering multiple options. The death of distance, which is a by-product of technology, has become a reality in the banking sector. Another major development witnessed in recent years is the growth of multiple delivery channels for customers, such as internet-based banking, mobile banking and anywhere banking. This has benefited the customers and banks alike. While customers now have a wide variety of options to choose from, banks have been able to reduce their costs which have had a positive impact on their profitability. Digitization has coincided with increased prominence of platforms and marketplaces that connect diverse agents in social and economic activity. The present book provides insights to understand robotic process automation (RPA) in the banking sector, and its awareness, risks and opportunities. Robotic process automation (RPA) has emerged as a game-changing technology for the banking sector, enabling banks to automate repetitive, manual, and time-consuming tasks. The use of RPA has revolutionized banking operations, by streamlining processes, reducing costs, improving accuracy, and enhancing customer experience. In addition, the book also outlines issues, challenges and opportunities for customers following their migration to mobile banking apps (MBAs) and transaction apps (TAs) in this digital era. Cyber security issues faced by digital customers while employing mobile banking apps (MBAs) and transaction apps (TAs) for their business activities too have been duly highlighted.