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Is robotics a viable solution for the banking and finance sector?

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In the twenty-first century, ongoing technological development has become crucial to human survival; the field is thriving and never-ending. Every issue has a technological solution because of our innate urge to solve problems. The banking sector has also taken a paradigm shift in this technological revolution. Today's financial institutions are paving the way for the adoption of cutting-edge technology that will revolutionize and streamline the banking process. Due to their alluring appearances and social tendencies, humanoid robots are helping financial institutions do routine work while freeing people to concentrate on more crucial jobs.  

To deepen the emotional connection with your consumers and rethink the BSFI service delivery paradigm and client journey, Pepper and Nao provide an immersive experience at your institution. This article will highlight the role and benefits of robotics in banking along with some of the most common applications of robotics in finance and accounting. Hop on.  

The role of robotics in finance  


Considering the role that banking plays in the economy, technological advancements in the sector are becoming increasingly crucial. Recent advances in international banking trends have included robotics in their software arsenal, which has been implemented by many BFI sectors globally.  

Another significant aspect of robotics in this sector is automated systems that can answer complex customer queries. This is the next major shift in banking, ushering in a new era of self-service banking. Due to sophisticated technology and the results it produces in terms of cost and turnaround time, it is becoming more prominent on a global scale. 

Advantages of robots in banking  


The benefits of robotics evolution are multi-layered. The advantages of technology in the banking sector include:  

Revamp customer service  

Robots can generate more sales opportunities by triggering the customers' curiosity and be a perfect tool for promoting your services and products.  

Optimize mundane administrative tasks  

It is possible to automate repetitive tasks by using robots, thus allowing your employees to concentrate on more personalized and complex tasks. 

Assemble comprehensive data  

Data is crucial to thriving in every business in the modern era. Robots can collect comprehensive data to produce customer insight for service effectiveness. 

Elevate customers' loyalty  

Robots can increase and retain customer loyalty with enduring, personalized, and consistently enhanced services.  

Increase sales opportunity  

By implementing robots, it is possible to enhance client offers at global and granular levels. As a result, clients will be engaged and assisted in investing in new products in a timely and effective manner, ultimately resulting in increased sales.  

Robotics in banking operations: Most useful applications  


The adoption of robotics allows for more flexibility in managing workloads. Robots can don multiple applications in the banking and finance sector. Below is a list of typical use cases of Proven Robotics' humanoid robots NAO and Pepper for the BFSI sector.  

As a receptionist and greetings assistant  

For enduring engagement and a greater probability of customer retention, our humanoid robots guarantee excellent customer service and a high-quality greeting to your customers when clients implement them at the front desk.  

As an information guide  

Pepper & NAO enhance communication by supplying pertinent information to the customers. Robots familiarize visitors with your facility to strengthen engagement while ensuring a well-guided tour. 

As a sales assistant  

The upsell and cross-sell capabilities at Pepper & NAO enable you to increase sales, from product consultation to personalized recommendations.  

As a brand ambassador  

For accurate and consistent presentations at business events or marketing campaigns across all branches, you can rely on Pepper and NAO. Our humanoid robots can always communicate your brand's message to your customers in the best possible way. 

As a digital service provider 

By integrating several services like click and collect, payment, and queue management, Pepper and NAO boost customer lifetime value, customer engagement, and conversion rates in the banking and finance sector.  

As a feedback collector 

Customer feedback is one of the most valuable aspects of the BFSI industry. By regularly gathering client feedback and providing priceless added-value insights, you can impact innovations and modifications in your products and services through the implementation of robots. 

As a survey conductor 

Robots can deploy interactive customer satisfaction surveys, track the outcomes in real-time, and use the information to inform future service improvements. 

As a retailtainer  

Our robots serve as a compelling medium for in-game advertising and financial education by leveraging their enriched interactions and taking advantage of verbal exchange supported by whole body language. 

The bottom line  


Since the robotics sector is so heterogeneous, it is challenging to forecast its future. However, by now, everyone understands that robotization is inevitable. Every year science develops, and research does not stand still. Consequently, as robotics technology evolves, its application in this sector will also expand. Therefore, it is safe to assume that robots are a viable solution for banking and finance, given their reassurance of refined and extended customer satisfaction, operational digitization reducing cyber risks, and transaction transparency for improved customer relations.