BEIJING, April 16, 2020 /PRNewswire/ -- Pintec Technology
Holdings Ltd. ("Pintec"; NASDAQ:PT), a leading independent fintech
solutions provider, today announced the establishment of an Innovation Center in Shanghai to promote the adoption of Robotic
Process Automation (RPA) in financial institutions. Pintec will
cooperate with several RPA giants such as Automation Anywhere and
Blue Prism to help financial institutions drive digital
transformation with RPA. Recently, Pintec assisted with the deployment of an RPA system for Hong Kong Stock Exchange
(HKEX) to help them realize process automation in human resources,
finance, and other office works.
Large market opportunity for the application of RPA in the
financial field
RPA is an application, governed by business logic and structured
inputs, aimed at automating business processes. Using RPA tools, a
company can configure software or a "robot" to capture and
interpret applications for processing abundant repetitive and
rule-based works. RPA can be applied in multiple sectors including
finance and tax, data analysis, risk management, customer services,
IT, HR covering lots of critical industries such as finance,
internet, education, manufacturing,
etc.
According to the Report on Robot Technology and Functional
Automation: A Combination of Human Power and Machine released
by EY in February 2019, the
combination of RPA and AI will bring explosive growth to the
financial industry. Financial institutions such as bank, securities
company, and insurance company have achieved a high level of
informatization, which is easier to adopt RPA technology than other
industries. Currently, many large financial institutions are
applying RPA tools in credit, insurance, and wealth management
fields, which cover key operational processes including KYC, loan
processing, transaction execution, account processing, auditing,
customer services, human resources.
With the development of AI technologies, the combination of
traditional RPA and AI is able to realize end-to-end process
automation without considering the current system environment,
which can highly improve the efficiency of financial
services.
Pintec's significant strengths to facilitate the application
of RPA in the financial field
Pintec has established cooperative relationships with large
international RPA services providers such as Automation Anywhere
and Blue Prism. Leveraging their mature products to combine with
Pintec's strong capabilities in artificial intelligence technology
development and in-depth understanding of financial business,
Pintec will provide financial clients with comprehensive RPA
technical support in system counselling, deployment,
implementation, and license acquisition.
"The development of RPA has entered the stage of 'AI+RPA' after over ten years of development. On
the one hand, AI expands the application boundary of RPA. On the
other hand, RPA requires full process optimization compared to
other office automation systems. Leveraging AI technologies, it can
well address the pain points that exist in the automation process.
For example, RPA can automatically input and analyze unstructured
mass data by leveraging image recognition technology to improve the
efficiency of the entire process profoundly," said Victor Li, Head of Technology Enablement at
Pintec, "We apply AI technologies in our digital lending and wealth
management systems. We have accumulated a wealth of experience in
serving financial institutions and will continue to bring our
experience to the current RPA system to facilitate the development
of iRPA."
In addition, Pintec has accumulated in-depth operating
experience through various long-term cooperation with different
financial and business institutions. As the key to RPA system
deployment is to analyze each business process and design a
reasonable deployment plan, Pintec's rich practical experience will
significantly improve the efficiency of RPA system.
In recent years, Pintec has strengthened investment in financial
infrastructure services. In 2019, Pintec acquired an Australian
fintech company InfraRisk. The company developed Credit Value
Maximizer (CVX), an automated tool for credit process management.
The system has served lots of international financial institutions
including National Australia Bank, Toyota Finance, and Judo Bank,
which has greatly strengthened Pintec's advantages in fintech
capabilities.
"While facing the complex and changing economic situation and
the impact of COVID-19, Financial institutions urge to increase
income and reduce expenditures through optimizing business
processes and human resources structures to improve operational
efficiency and risk-resistance capabilities," said Victor Li, "The RPA system has features of low
investment, short-term construction period, and non-invasiveness,
which is expected to be widely applied by financial
institutions."
About Pintec
Pintec is a leading fintech solutions provider. With its mission
to "Power the Future of Finance", Pintec aims to advance financial
services by providing customized and modular fintech solutions to
its financial and business partners, including point-of-sale
financing solutions, personal installment loan solutions, business
installment loan solutions, wealth management solutions and
insurance solutions. The company operates a unique SaaS Plus
service model. In addition to the industry-leading SaaS service
platform, Pintec also offers a full suite of value-added solutions
to its customers, including decision support, traffic enhancement,
joint operations, and advisory services. Pintec has cooperated with
a number of business and financial partners, including but not
limited to Xiaomi, Qunar, Ctrip, China Telecom BestPay, Vip.com,
Minsheng Securities, Orient Securities, Yunnan Trust, Guoyuan
Securities, Bank of Nanjing,
East West Bank, China National
Investment & Guaranty Corporation, Fullerton Financial
Holdings. On October 25, 2018, Pintec
was officially listed on the Nasdaq Global Market with American
depositary shares trading under the symbol "PT".
For more information, please visit www.Pintec.com
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SOURCE Pintec