where can rpa be applied 
rpa is quite common in the financial services industry with increasing compliance and regulatory filing requirements the finance industry banks insurers and investment management companies has been an early adopter of rpa many onerous back office functions such as ensuring an up to date know your client kyc form is filed or a recent credit check is included on a loan application are ideal for rpa removing this burden from employees allows them to focus on high return tasks more importantly the software can clear these basic filing and data manipulation functions faster than humans reducing the overall processing time of course rpa is not just limited to finance any industry that deals in data and filing can benefit from robotic process automation when software can reduce costs and increase efficiency without requiring an onerous and complex implementation it will find eager users and useful applications in almost any sector indeed rpa has also been found useful in the following fields challenges for rparpa does however have its drawbacks these systems can be expensive to customize and deploy and may not be suitable for more complex tasks that require some degree of human judgment or creativity rpa systems when unchecked can also go awry one example is the case of so called robo signers used in the mortgage industry these systems rubber stamped foreclosure documents on homeowners automatically even when a foreclosure was questionable or avoidable moreover this practice failed to meet government regulations for oversight of the foreclosure process in the mid 2010s leading to a scandal following the housing market bubble of the 2008 09 financial crisis 2 following the public exposure of robo signers foreclosure documents had to be manually reexamined and the companies involved faced disciplinary action 