Implementation of Robotic Process Automation in Jordanian Banking Sector: Benefits and Challenges

Abstract

The purpose of this paper is to develop a better understanding about the benefits that can be realized after implementing Robotic Process Automation (RPA) technologies in banks. Furthermore, this paper aims to investigate the challenges faced by banks when implementing such technologies. This study followed a qualitative approach where interviews were conducted with consultants and experts providing services to leading banks in Jordan. Some interviewees had extensive experience in the implementation of RPA in different banks. This research found many benefits that can be obtained when implementing RPA technologies in banks. These benefits include enhancing the efficiency and improving the customer experience, enhances the business process by reducing the time required to accomplish tasks with high rate of accuracy and consistency, and operational cost reduction. On the other hand, many challenges are founded like learning curve to pass through and capacity building, lack of skills and experience in technology, high cost of licenses, implementation obstacles, also the running cost that needs to be paid on regular basis, implementation complexity for certain areas of business functions, in addition of data governance and security. This paper can help those banks attempt to adopt RPA technologies, as it illustrates RPA applications, benefits and challenges based on other banks experience and implementation processes.