RPA in financial services

Improve data accuracy & significantly speed up processing times

Robotic Process Automation (RPA) helps wealth and asset managers improve data accuracy and significantly speed up processing times for repetitive tasks such as:

• Downloading custodian statements
• Generating reports
• Updating and mapping data
• Sending emails, alerts, and notifications
• Triggering workflows

Empaxis can help your firm leverage RPA because we program specific software — or “bots” — to memorize some of your investment operations processes. We then customize these digital bots to perform the tasks.

RPA increases RIA employee engagement

When you automate tasks such as reconciliation reports and rebalancing portfolios, employees have more time to do more meaningful, more human work. They can focus on higher-value processes such as:

• Serving clients
• Investing
• Gathering assets
• Sales & marketing

“Employees today struggle to perform under the weight of mind-numbing, repetitive work. RPA allows employees to engage in richer interactions with others, perform work that requires more brain power, and make fewer mistakes.”

Use Case: Private equity processing automation

Situation

A $1+ billion AUM family office needed help with handling private equity and other alternative statements. Handling these processes are time-sensitive, but the statements would come in at inconsistent times and in large volumes, straining the firm’s capacity.

How Empaxis helped

Empaxis developed bots to download statements from email and custodian portals, then format, rename, and store the files. After that, the bots extract data from the PDFs and place into a report, then send internal notifications that reports are ready.

Result

With RPA, the private equity processing gets done 12 times faster and saves the family office several hours (and several thousand) each month.