A Study of RPA adoption and user experiences (UX) : a case of retail banking and finance organization in Sri Lanka

Abstract

This study investigates the adoption of Robotic Process Automation (RPA) in the banking sector, specifically focusing on lease and loan processing at ABC Bank in Sri Lanka. The primary aim is to evaluate the impacts and benefits observed during the post-RPA adoption period. By employing a mixed-methods approach, this research assesses operational efficiency, error reduction, processing time, and customer satisfaction efficient compliances management. The interviews were conducted according to the plan activity of data collections using the tools of both in person interviews about ten and the six on call telephone interviews. It was on all sixteen branches in the province of Western Sri Lanka. The first set of questions were targeted to unearth the adoption readiness of the employees while other set worked for the internal factors and constraints of adoption along with the user experiences examination. The technical abilities of the BOT development and its supported pathways were discovered during a telephone interview with two branch officers. These followed queries to find out performances levels of individuals involved retail leasing and finance along with that of BOT operated processes. Comparing the BOTs were not encouraged at the interviews but later in the analysis, (Axial coded data), it was found out to be a remarkably different in the efficiency improvement. The open coding and the axial coding were done to identify a measuring of performance queries from the management staff of BOT operation staff. This was done by way of comparative analysis of the phenomenon. These were enriched by writing short memo notes during interviews. And the memo notes were too considered during analysis. During the interviews certain changes too were added to interview questions to increase the cohesion and answerability of the quarries. This approach was a success as the respondents were more enthusiastic about participating in the interviews. Axial coding was generated on the open codes collected from the collected data and finally with main categorized data it was taken from them. After an axial coding analysis. (Tables 4.3, 4.4, 4.6 and 4.7). To check and confirm these axial encoding and final categories, a scale from zero to three was used. The researcher had to go through the gathered data and the branches of the selected bank were asked to identify whether they agreed with these categories. The categories, which got more than 50% as agreed and neutral, were identified as factors to be considered when conducting loans & lease products retailing. The findings provide valuable insights into the effectiveness of RPA in enhancing banking operations and offer recommendations for future implementations. This study contributes to the growing body of knowledge on technological advancements in the financial services sector, highlighting the transformative potential of RPA in improving banking processes. In conclusion, this research on the adoption of Robotic Process Automation (RPA) in lease and loan processing at ABC Bank, Sri Lanka, highlights significant improvements in efficiency and effectiveness. Through qualitative data gathered via questionnaires and interviews, the study reveals that the implementation of RPA soft bots has streamlined operations, reduced processing times, and minimized errors. The findings underscore the potential of RPA to transform traditional banking processes, offering a robust framework for enhanced operational performance. This study not only validates the benefits of RPA in the banking sector but also provides insights for future implementations, ensuring that banks can leverage technology to stay competitive and improve service delivery.