Robotics in Lean Financial Services: Friend or Foe?

We stand on the brink of a technological revolution that will fundamentally alter the way we live, work and relate to one another. The Financial Services industry has seen significant change over the past nine years with unprecedented threats, increased competition, economic and market instability.  It has adopted Lean thinking, with varying degrees of success, to help it overcome these obstacles which has ushered in a new way of working. But in 2017 the challenges remain and with statements like robotics can deliver “80% cost saves” commonly heard, it is no wonder many executives are examining how robotic process automation (RPA) can change the way they do business. This raises the question: is this the end of Lean in Financial Services or can technological innovations such as RPA enable a revolution of the Lean approach?

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