RPA and Hyperautomation in Banking Market By Component (Solution, Services), By Deployment Mode (On-Premise, Cloud), By Organization Size (Large Enterprises, Small and Medium-sized Enterprises), By Application (Customer Account Management, Fraud Prevention, Report and Invoice Automation, Account Opening and KYC, Auditing and Compliance, Chatbots, Others): Global Opportunity Analysis and Industry Forecast, 2022-2031
RPA and hyperautomation helps financial institutions to deal with the pressure of doing manual work by reducing costs, increasing productivity, enabling a better customer experience, and ensuring regulatory compliance. It further reduces the burden on the employees to perform repetitive task, meanwhile saving time and cost for the financial organization. In addition, RPA uses software robots to execute business processes using the same interfaces people use. It needs standardized financial processes, digital forms and workflows, and the right software integrations to ensure communication.
Growth in digital banking services and surge in use of mobile phones and internet penetration drive the growth of the market. Moreover, banks are moving toward digital channels to provide their services. This is fueling the growth of the RPA and hyperautomation in banking market. In addition, rapid development in the automation of banking industry and surge in use of technologies in banking industry is driving the growth of the market. Hyperautomation improves employee productivity and reduces operational costs. However, the market growth is hampered by the security concerns regarding the privacy of the customers and security concerns due to the extensive flow of customer data and process standardization and organizational difficulties for implementing RPA. On the contrary, technological advancement in the field of banking such as blockchain and artificial intelligence is fueling the growth of the RPA and hyperautomation in banking market.
The RPA and hyperautomation in banking market is segmented on the basis of component, deployment mode and application. By component, it is classified into solution and services. By deployment mode, it is bifurcated into on-premise and cloud. By organization size, it is segregated into large enterprises and small and medium-sized enterprises. By application, it is segmented into customer account management, fraud prevention, report and invoice automation, account opening and KYC, auditing and compliance chatbots and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The report analyzes the profiles of key players operating in the RPA and hyperautomation in banking market such as AntWorks, Aspire Systems, Atos SE, Automation Anywhere, Inc., Blue Prism Limited, eccenca GmbH, IBM, Itrex Group, Protiviti Inc. and UiPath. These players have adopted various strategies to increase their market penetration and strengthen their position in the RPA and hyperautomation in banking market share.
Key benefits for stakeholdersThe study provides in-depth analysis of the global RPA and hyperautomation in banking market along with the current & future trends to illustrate the imminent investment pockets.
Information about key drivers, restrains, & opportunities and their impact analysis on the global RPA and hyperautomation in banking market size are provided in the report.
Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
The quantitative analysis of the global RPA and hyperautomation in banking market from 2022 to 2031 is provided to determine the market potential.
Additional company profiles with specific to client's interest
Additional country or region analysis- market size and forecast
Key player details (including location, contact details, supplier/vendor network etc. in excel format)
SWOT Analysis
Key Market SegmentsBy ComponentSolution
Services
By Deployment ModeOn-Premise
Cloud
By Organization SizeLarge Enterprises
Small and Medium-sized Enterprises
By ApplicationCustomer Account Management
Fraud Prevention
Report and Invoice Automation
Account Opening and KYC
Auditing and Compliance
Chatbots
Others
By RegionNorth America
U.S.
Canada
Europe
UK
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market PlayersAutomation Anywhere, Inc.
Protiviti Inc.
itrex group
eccenca GmbH
Atos SE
Blue Prism Limited
UiPath
Antworks
Aspire Systems
IBM
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