The New Technology Frontier RPA, AI, Blockchain, and Other New Technologies

Front Office / Call Center Context Setting eSignature External Systems Customers Back Office eDelivery Mobile Client Web Sites Back Office Front Office / Call Center

What is RPA A pivot from people to software, from high-volume, highly transactional manual processes, to a digital workforce. Looked at as a solution that used to be solved by outsourcing to low-cost manual labor options. Onshoring and digital. Addressing the classic "swivel chair" problem, where we are taking data in one form and manually entering or verifying it in another electronic system.  Example: Transition to the "lights out" textile factory

Benefits of RPA Ability to scale Consistently applied business rules Only exceptions are manually processed  Integration of processes across multiple systems (Client Level Address Change, for example)

Where RPA fits best: Rules Based – No human judgment needed High Volume – The higher the better Low Exceptions – We want the same thing to happen over and over with very little variation Stable and Well-Defined Processes – Minimal changes, well established and mature  Low System Change – interacting with applications that have very little change Structured Data – electronic or forms based data that can be fed to the RPA with consistency

What parts of RPA can be done “out of the box” with IFS Business Rules Workflow Tasks Sub processes IFS Maintenance Tasks Audit and reporting Exception Processing System Interfaces

Opportunities to Use RPA Activity or Time Driven System Created Service Requests Compliance Data / Client Information Verification RMD reminders 36 Month Verification Letters Householding / Multiple System Sync Address, Phone Number. E-Mail Change Client Activity Driven Transactions

Roundtable Discussion What percentage of your transactions are currently straight through? Are you happy with that percentage?  What are the primary causes of manual intervention Where can you automate interactions with other systems, eliminating re-keying, manual queues, or swivel chairs checking? How many of the systems that you are currently interacting with have no API or other interface? How (if any) are you using RPA today? Have you thought about leveraging the IFS platform to automate processes other than field or client initiated transactions? 

Predictive Analytics What is it? Potential Applications: Data mining Modeling Machine learning Using as input: IFS history Customer data from other systems Fraud detection Cross-sell opportunities

Blockchain What is it? Potential Applications: A decentralized and distributed ledger The technology behind Bitcoin Audit history Data sharing Account holder Account transfers (cross-firm)

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