Implementation of robotics and its impact on sustainable banking: A futuristic study

Abstract

Nowadays we are standing on the edge of technological rebellion which would vitally modify the way we live and work. This paper focuses on understanding the changing economic and financial situations with advent of modern technology. Banking sector was analyzed with the help of secondary data collected through several reports, journals, websites and past studies. The study helped me attain insight into probable impacts of implementation of robotics in banking sector and the way it would help to ease the bank’s transactions, maintain sustainability throughout and enhance profitability. While in the field of manufacturing, repetitive procedure have been subjected to automation involving robotics and other technologies, since industrial revolution, robotics has now opened doors to other sectors of the world like banking and finance. This study has been undertaken to understand the impact of RPA (Robotics process automation) technology on banks and its future in a developing nation like India. The research has emphasized on alterations made by changing technology specially robotics in the banking industry.