Intelligent Process Automation (IPA)
Intelligent Process Automation (IPA) refers to the combination of Artificial Intelligence (AI) technologies with Robotic Process Automation (RPA) to create end-to-end business process automation. IPA enables systems to not only mimic repetitive human tasks but also make context-aware decisions, learn from data, and adapt over time.
IPA brings together various technologies such as:
- RPA (to automate rule-based tasks)
- AI/ML (to enable decision-making and predictions)
- Natural Language Processing (NLP) (for understanding human language)
- OCR (to read documents or interpret images)
- Workflow orchestration (to coordinate tasks across systems)
In the financial industry, IPA is used to streamline complex, high-volume processes, ranging from KYC (Know Your Customer) onboarding to compliance checks, loan processing, and fraud detection - significantly improving accuracy, speed, and cost-efficiency.
Smart automation
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IPA
Examples
A leading European bank uses Atfinity to perform Intelligent Process Automation for their client onboarding process. The RPA component extracts data from submitted KYC documents and enters it into core banking systems.
Meanwhile, AI models verify document authenticity, flag anomalies, and run customer due diligence checks by scanning global sanction lists and adverse media. NLP is applied to interpret free-text fields, while the workflow orchestration component routes exceptions to compliance officers. The result: onboarding time is reduced from 5 days to a few hours, while regulatory compliance is strengthened.
FAQ
What is the difference between RPA and IPA?
RPA automates rule-based, repetitive tasks without any understanding or learning. IPA enhances RPA by integrating AI capabilities like learning, adapting, and decision-making, making it suitable for more complex and dynamic processes.
How does IPA benefit financial institutions?
IPA helps banks reduce operational costs, enhance compliance, improve customer experience, and accelerate digital transformation. It automates tedious manual tasks and adds intelligence to workflows, resulting in faster, more accurate, and scalable operations.
Is Intelligent Process Automation the same as Artificial Intelligence?
No. IPA is a broader framework that includes AI but also combines other technologies like RPA, NLP, and workflow tools. AI is one of the building blocks of IPA, enabling systems to learn and make decisions, but IPA focuses on end-to-end process transformation.
