What is RPA (Robotic Process Automation)

Robotic process automation (RPA) is a technology that allows a computer programme or “robot” to replicate otherwise manual processes in an automated, repeatable and reliable manner. Just like a human, robots can: open emails and attachments; log in to applications; read databases; collect data; follow “if/then” decisions; fill in forms and perform calculations. RPA solutions allow organisations to do more with less minimizing risks through increased visibility and audit trails. Typically robots operate around 3 times faster than a human worker.

Robots are best suited for tasks that are repetitive, rule-based, and incorporate structured digital data. In the treasury space, RPA could be used to automate a number of labour-intensive day-to-day processes – freeing up high-value employees time for activities such as problem-solving, exception handling and troubleshooting. Payment processing, invoice management, reporting and reconciliation, in particular, lend themselves to RPA. Similarly, robots could be used to assemble, analyse and organise the vast amounts of data treasurers require to produce accurate and timely cash forecasts. At Deutsche Bank we believe that robots have the potential to transform the operations – not only for the corporate treasurer, but also for their banking partners. In fact, we are now actively developing new RPA solutions to reduce risk, enhance process quality, reduce operating costs and improve customer experience. One of our first robots is “Iris”. Launched in November, “Iris” has revolutionised our fund release processes – improving process quality, speed and cost.

Previously, the process of releasing funds was lengthy and inefficient. Dozens of people were required to perform multiple checks to ensure the client had sufficient funds available. “Iris”, on the other hand, is able to carry out the necessary checks in a matter of seconds. If funds are available to the client, the payment will be automatically executed. If, they are not, – the responsible relationship manager is informed and can approach the respective treasurer. “Iris” is only the start. Robots are set to become an increasingly central presence in the bank and treasury of tomorrow – making all kinds of processes more efficient and less risky.