The banking and finance industry is under constant pressure to deliver fast, accurate, and secure services—while keeping operational costs in check. That’s why more institutions are embracing Time & Motion Studies and Robotic Process Automation (RPA) to optimize performance.
Let’s explore how these two tools work together to drive smarter, faster banking.
What Is a Time & Motion Study in Banking?
Traditionally used in manufacturing, time & motion studies are now helping banks analyze how time is spent across manual processes—like:
Loan processing
KYC verification
Account opening
Back-office documentation
Compliance reporting
It tracks the time taken and the steps involved in each task, revealing inefficiencies and opportunities for automation.
What Is RPA and Why Is It Important?
Robotic Process Automation (RPA) uses software bots to automate repetitive, rules-based tasks—without altering existing systems. For banking, this includes:
Automating data entry
Reconciling transactions
Processing claims
Customer onboarding
Sending compliance alerts
Time & Motion + RPA: A Game-Changing Combo
By combining time and motion studies with RPA services, banks gain a two-step advantage:
Identify the Bottlenecks
Use time and motion data to find slow, repetitive, and error-prone processes.Automate the Right Tasks
Apply RPA bots to high-volume, low-value tasks—boosting accuracy and cutting costs.
Key Benefits for Banking & Finance
- Accelerated Processes
Cut task times from hours to minutes with automation after identifying delays. - Reduced Operational Costs
Eliminate redundant tasks and reallocate staff to strategic functions. - Improved Accuracy & Compliance
Minimize human error in sensitive tasks like audits and reporting. - Enhanced Customer Experience
Faster service turnaround—loan approvals, onboarding, document processing. - Data-Driven Decisions
Insights from motion studies help optimize workflows across departments.
Real-World Example
A regional bank conducted a time & motion study on their loan processing unit. Results showed staff spent nearly 40% of their time collecting and entering data. By deploying RPA bots for data entry and document validation, the bank:
Reduced loan approval time by 60%
Improved accuracy in credit data inputs
Freed staff for customer-focused tasks
Getting Started: Best Practices
Begin with a Pilot
Select one process—like onboarding or reconciliations—and measure it.Use Digital Tools for Study
Video capture and motion-tracking tools provide accurate insights.Identify Automation Opportunities
Use study data to prioritize high-impact RPA implementations.Train Teams & Monitor Results
Monitor efficiency gains and continuously refine workflows.
Final Thoughts
For modern banks, staying competitive means staying efficient. A time and motion study shows you where time is being lost, while RPA services help you get it back.
Together, they provide a data-backed roadmap to reduce friction, increase throughput, and deliver better financial services.