UiPath teams up with Finastra to make it easier for financial firms to use robotic process automation (RPA). It brings Automation as a Service to the Finastra cloud, which offers a managed service model for banks and credit unions, for example.
Finastra’s platform supports financial service providers around the world to reduce complexity and increase efficiency. UiPath can complement this with RPA. The UiPath software observes how employees perform a task in an application, so a software robot can take over the repeating task.
Thanks to the partnership, the RPA capabilities of UiPath will become available to Finastra customers as a managed service. Here, the vendors promise to build on the security and compliance principles of Finastra’s cloud-based infrastructure. Compared to other verticals, the financial services industry has high requirements for storing and working with data.
In cooperation with partners, UiPath wants to help organisations with the implementation, maintenance and management of software. For the cooperation with Finastra, it means that the UiPath technology is integrated into certain Finastra software. This can be useful for payment processing, asset management and finding opportunities for improved efficiency.
Mid-sized financial services providers
According to UiPath and Finastra, medium-sized banks and credit unions will particularly benefit from the collaboration. Nitin Purwar, Senior Director of Banking and Financial Services at UiPath, says that they are sometimes not served by large system integrators or platform providers. As a result, they have to deal with automation themselves, without external help.
“With our Automation as a Service offering within Finastra, customers who already use Finastra With our Automation as a Service offering within Finastra, customers already using Finastra solutions can now tap the power of the UiPath end-to-end automation platform and automate with speed, scale, and support,” Purwar concludes.