The solution is designed to provide a managed service model for automation to Finastra’s thousands of customers in banks, credit unions and financial institutions. With the new offering, UiPath and its partners can design, install, deploy, run and maintain automated processes to enable the banking industry to leverage the power of automation as well as infrastructure security and compliance cloud-based Finastra, a software provider financial services company.
The impact of macroeconomic trends such as inflation and the Great Resignation are straining resources across the financial sector, with a disproportionate impact on mid-sized banks and credit unions which have comparatively fewer resources than big banks. These pressures amplify the need for banks to evolve digital capabilities. A recent survey found that 40% of financial consumers would leave their primary financial institution for a better digital banking experience, while 56% say their credit union or bank’s digital offering did not meet their expectations. Also, a recent UiPath survey found that 62% of executives at major U.S. companies are struggling with the current labor shortage, the official press release says.
Finastra provides technology to over 8,600 financial institutions worldwide to enable the future of banking through apps, marketplaces and an open innovation platform. With the new offering, Finastra customers can access integrated managed service automation, leveraging the expertise of UiPath and its partners for implementation, maintenance, management and support, whether either in the cloud or on premise.
Finastra customers benefit from managed and seemingly easy-to-implement automation solutions and services to improve their operations and mitigate the effects of market trends that are detrimental to business growth, while being supported by UiPath and its partners. Additionally, Finastra plans to include UiPath features in its own offerings, which it will monetize directly with its customers.