Is Robotics a Solution for Banking Business Process Reengineering and Automation?

The aim of this study is to find out what business process characteristics would motivate a valid requirement for robotization and to develop recommendations for improving the operational activities of a bank or financial organization. The results of the study will help senior management reduce the time needed to identify a business process for robotics and the cost of implementing robotics, thus supporting their company's transition to a new business model of digital operations so that it may remain competitive in the face of fast-growing fintech competitors and new financial and technological services. Our research methods were as follows: a review of previous research in the field of robotics; a critical analysis of the literature to identify gaps in the study of business process robotics and define the selection criteria for robotics and automation; primary data collection through a survey and interviews; analysis and interpretation of the data collected; and development of conclusions and recommendations. The main outcome of this paper is a set of banking business process characteristics that help in identifying and defining types of business processes which are particularly suitable for automation and robotics in the finance industry.