Automation driving shift from outsourcing to in-housing

With the right technology, financial companies may find it cheaper and more efficient to keep certain processes in-house
by Peter Taylor-Whiffen

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The average worker spends nearly six weeks a year doing repetitive tasks, according to a 2019 Gartner study of 150 senior executives. So it’s no wonder firms are looking for ways to relieve their employees of such monotonous work and make them more engaged, more productive, and more likely to stay.

Traditionally, outsourcing repetitive work was an obvious and effective solution. However, businesses are increasingly tending to keep these tasks in-house with robotic process automation (RPA). This is especially true in finance firms, where the amount of avoidable ‘rework’ can take up as much as 30% of an employee’s time, according to the study.

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Published: 09 Mar 2023
Categories:
  • Compliance
  • Training, Competence and Culture
  • Fintech
  • Operations
Tags:
  • featured
  • technological resilience
  • merger
  • digitisation
  • back office
  • automation
  • acquisitions

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