Right, these days we hear a lot about AI and Robots. There is a lot of talk on how smarter processes can help achieve operational excellency in financial services. I hear similar statement from many of my clients who work in variety of financial sub sectors (insurance, banking, asset management, etc.). However, seems that fintech has got its limits as well. Recently, one of my clients tested and RPA ( Robot Process Automation) that would eventually help with their fund operations. Couple of months of testing down the line, they were not convinced that they have the scale and the real need to gain much. They found that for themselves there is more value in STPing ( straight trough processing) their flows front to back. This recent experience of mine reminds me that the financial services industry is large enough for both humans and machines working together. There are few good reads on that fintech topic here. Accenture has done an interesting report on how robotics is transforming operations in asset management, also worth a look. Finance supercharged also has an interesting opinion on the RPA topic. What do you think about it? Will be really interested to hear your opinion.
Boris Grozev is a seasoned fintech executive. Entrepreneur by heart Boris has helped number of businesses to create and implement business development and product enhancement strategies. His advisory work in Emerging and Frontier markets has promoted culture and technology change, fostered innovation and lead to tangible results. He invests in variety of asset classes and shares his experiences from the journey to financial independence. Boris is a fast learner, whose leadership abilities, ambition, stamina, passion to succeed and attitude naturally spread to others helping to achieve common goals.
