The impact of macroeconomic trends such as inflation and the Great Resignation are straining resources across the financial sector, with an outsized impact on mid-market banks and credit unions that have comparably fewer resources than large banks. These pressures are amplifying the need for banks to evolve digital capabilities. That’s why UiPath recently announced it will offer a new Automation as a Service offering on the Finastra cloud, designed to provide a managed service model for automation to Finastra’s thousands of banks, credit unions, and financial institution customers.
With the new offering, UiPath and its partners can design, install, deploy, run, and maintain automated processes to enable the banking sector to leverage the power of automation along with the security and compliance of cloud-based infrastructure from London-based Finastra, a major provider of software for the financial sector. To recap, Finastra’s products are used by 90 of the world’s top 100 banks, as well as more than 8,000 other financial firms. Thanks to this partnership, Finastra customers now can access built-in, managed service automation, leveraging the expertise of UiPath and its partners for implementation, maintenance, management, and support, whether in the cloud or on-premises.
“While nearly every bank is tapping into the cloud in some format, only a small percentage are using cloud to support automation for mission-critical operations. The UiPath Automation as a Service offering is a perfect opportunity for financial institutions to take advantage of the operational efficiencies and cost savings automation can bring while ensuring data security, privacy, and lower total cost of ownership on Finastra’s open platform. Banks using the UiPath ‘Automation in a Box’ managed service can digitize faster, extend core offerings, and focus more resources on customer-centric services.”Riteesh Singh, SVP & General Manager, Marketplaces at Finastra