TECH BUYER Jun 2020 - Tech Buyer Presentation - Doc # AP46346120
China: The State of Robotic Process Automation (RPA) and Intelligent Automation in Financial Services
By: Sneha KapoorResearch Manager, Iris Ren, Viola Zhu
This Tech Buyer Presentation presents IDC's view on the state of robotic process automation (RPA) and intelligent automation adoption in the financial services industry in Mainland China. The presentation covers insights into key trends and market developments, customer needs, use cases and benchmarks, examples of customer adoption, profiles of key vendors, and advice for the technology buyer. This report is the fifth one in the series on automation and artificial intelligence (AI), where IDC Financial Insights starts by looking at robotic process automation (RPA) and how is the proposition around it expected to steadily move toward intelligent automation in China.
"RPA and intelligent automation will play a pivotal role in addressing business problems and goals in Mainland China in 2020." Sneha Kapoor, research manager, IDC Financial Insights Asia/Pacific, says, “By 2023, IDC Financial Insights expects that 80% of financial services institutions in Mainland China will deploy intelligent automation solutions to achieve an exceptional business value and deliver a more real-time and contextual customer experience.”
We also believe that COVID-19 will further accelerate the adoption of RPA and intelligent automation as many institutions are now looking at automation to offer business continuity and resiliency. Intelligent automation will be one of the key technologies that will propel institutions through digital transformation. Institutions will invest significantly in automation to achieve business performance and scalability in these unprecedented times. Moreover, we also expect the deployments of RPA and intelligent automation in the cloud to substantially accelerate in China over the next few years.
Automation Anywhere, Inc., Bohai Property Insurance Co Ltd, Haitong Securities Co., Ltd., DataGrand Tech Inc., Ping An Property & Casualty Insurance Co of China Ltd, Industrial and Commercial Bank of China Ltd., Alibaba Group Holding Limited, Beijing Laiya Network Technology Co., Ltd., UiPath Inc., Blue Prism Group plc, China Construction Bank Corporation, Shanghai i-Search Software Co., Ltd., Nanjing Bank Co., Ltd., WorkFusion, Inc., Ping An Technology (Shenzhen) Co., Ltd., China Pacific Insurance Group Co., Ltd., Shanghai Yunzhuang Information Technology Co., Ltd., Industrial Bank Co.,Ltd., Kryon Systems Ltd., Zhuhai Jinzhiwei Information Technology Co., Ltd.