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UK Organisations Lead in Adopting Business Automation

UiPath, the Robotic Process Automation (RPA) software company, has released a new study that reveals the current and future progress of automation in organisations across the world. The survey, entitled The Advance of Automation: business hopes, fears and realities, was developed in collaboration with The Economist Intelligence Unit (The EIU). It questioned senior executives of mid- and large-sized enterprises in the UK, Canada, France, Germany, India, Japan, Singapore and the United States. Results from the survey revealed that the future is bright for the automation of business processes in the UK. The survey was broken down into ‘leaders’ – those making extensive use of automation technologies – and ‘laggards’ – those making moderate or limited use of automation. UK respondents were one of the four countries populating the leader pack (11%). The other leaders are Germany, France and the US. 67% of UK business executives report being satisfied with the results of their automation initiatives so far – and are experiencing business benefits as a result. 73% of UK firms expect their companies operating costs to improve as a result of automating business processes – whilst 65% predict revenue growth and 62% forecast increased profitability. As a nation, the UK is ahead of the curve when it comes to business automation. Nearly half (48%) of UK businesses describe their use of automation as ‘extensive’, whilst 48% describe their organisation’s progress with automation as advanced. 15% consider their progress to be very advanced. 73% of UK firms expect their companies operating costs to improve as a result of automating business processes Globally, over 90 percent of businesses already use technology to automate business processes, and companies in every industry surveyed – including manufacturing, healthcare and financial services – find value in it. Furthermore, nearly one-in-ten businesses (88 percent) worldwide believe that automation will accelerate human achievement. There are few fields of organisational activity that are untouched by automation. That’s because it’s enabling businesses in every industry around the world to drive efficiencies by replacing manual tasks with automated ones. In the UK, the share of business processes currently being automated is being dominated by IT operations (67%), followed by administrative work and office management (60%) and customer service (58%). Key benefits observed from business process automation globally include: Focused employee attention on less repetitive, mundane tasks (91 percent) Increased capacity to handle volume (91 percent) New revenue sourcing (85 percent) In the UK, the share of business processes currently being automated is being dominated by IT operations (67%) 84 percent of respondents globally report that the c-suite is the driving force behind automation initiatives for their business, with the responsibility rolling up to the CEO (22 percent), CTO (29 percent) and CIO (17 percent). Over 70 percent of c-suite respondents also report that RPA and AI are a high or essential priority to meet their strategic objectives, predicting that it will make them more competitive as a business. Specifically, RPA is an extremely high priority to meet strategic objectives for 70% of UK businesses. “Business usage of automation is accelerating and widening to create opportunities for growth, and is encouraging greater creativity and innovation from employees as a result. We are pleased to see that business process automation has made considerable headway – but there is clearly room for organisations to improve their use of automation. We look forward to helping businesses drive their automation further, given the massive benefits they could experience as a result,” Bruno Ferreira, Area Vice President, UK & Ireland. The post UK Organisations Lead in Adopting Business Automation appeared first on The Fintech Times.
The Fintech Times

PayPal Launches Xoom, the International Money Transfer Service in the UK

PayPal has launched Xoom, its international money transfer service, in the UK and 31 other European markets. People in the UK can now use Xoom to quickly send money, pay bills or top up phones to more than 130 markets internationally.  The global remittance market is an estimated $689 billion industry with Britons remitting over $26 billion annually. The United Kingdom is home to over 9.3 million people who were born outside of the UK – many of whom support family members overseas for things like medical bills, education, utility bills, and other financial needs. Historically, the speed of securely and efficiently moving money across borders has been slow, but advances in digital technology—in particular mobile—are enabling a significant reduction in transfer time. According to the latest figures from the World Bank, almost half (45%) of all money transfers from the UK are sent to Nigeria, India, Pakistan, China, Kenya and the Philippines, the six largest non-European receivers of remittances from the United Kingdom. The introduction of Xoom usually allows loved ones in these countries to receive money sent to a bank account or for cash pick up in approximately five minutes or less. almost half (45%) of all money transfers from the UK are sent to Nigeria, India, Pakistan, China, Kenya and the Philippines Dan Schulman, PayPal’s CEO and President, said: “The way we move and manage our money has changed dramatically in the last few years. We have moved beyond the days when the only option for sending money abroad was to queue at a counter for hours. But even in 2019, it still takes too long to get money from the United Kingdom to a loved one in another country. We know how important these money transfers are in the lives of millions of people, and how crucial it is that money arrives swiftly and more securely so it can be used for things that matter. With Xoom, someone with a smartphone on a bus in London can send money that can be accessed within minutes in Mumbai to pay for a family member’s medical emergency or to keep the lights on for their family back home.” The post PayPal Launches Xoom, the International Money Transfer Service in the UK appeared first on The Fintech Times.
The Fintech Times

UK Coinbase Users’ Deposits Must Be Over £1,000 And Take Several Days To Be Processed

The recognized cryptocurrency exchange Coinbase has reportedly increased its minimum deposit for U.K. users. According to Cointelegraph, customers can now deposit a minimum of £1,000 as employees of the exchange confirmed in an email. Minimum Deposits Change For U.K. Coinbsae Users According to these employees, the crypto exchange suspended their Faster Payments settlement system they […]
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UK Chancellor Gives Official Opinion on Benefits and Risks of Facebook’s Libra

The chancellor of the United Kingdom, Philip Hammond, has been recently featured on CNBC’s Squawk Box to talk about the upcoming Libra, the crypto created by Facebook. He talked about the dangers and possibilities that surrounded it and whether it would need a banking license or not. According to Hammond, Libra will have an effect […]
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Fan tokens draw new users to crypto with the latest club addition, AS Roma

Blockchain is stepping further into the sports arena, as cryptocurrency company Socios partners with soccer team AS Roma to offer a fan token, according to a statement from the club.  The token will find its way to fans through the Socios app. There, it'll be tradeable against the Socios native token, $CHZ, currently listed on BitMax and KuCoin, as well as Binance DEX - Binance's decentralized exchange. The tokens are accessed on, but housed on a separate permissioned side chain, where each club becomes a Node with Proof Of Authority (POA) from $CHZ. In order to access the club token through a Fan Token Offering, fans must first hold $CHZ. The move could open crypto to a wider user base, since the tokens allow fans to have a voice in their club. The tokens five supporters the right to vote on certain club decisions. They'll be set at a price of two euros, but fans can also earn them by interacting with AS Roma on the Socios app. Fans can also "hunt" tokens for free through the app's augmented-reality geo-location feature Token Hunt. However, AS Roma isn't the only club interacting with fans through crypto. Indeed, clubs from different leagues including Paris Saint-Germain, Juventus and West Ham United have all created fan tokens for supporters. Alexandre Dreyfus, chief executive & founder of, said AS Roma's fan base along with other participating clubs draw hundreds of millions of users.
The Block Crypto

What does it take to be part of the next wave of Bitcoin Billionaires? Tim Draper answers

As crypto ecosystem consistently redefines its new peak in terms of adoption, fiat investors and new players are seeking opportunities to be a part of the next wave of Bitcoin Billionaires. One of the early birds, Tim Draper leads this space in terms of making sizable investments and returns in Bitcoin. Having complete faith in Bitcoin’s […] The post What does it take to be part of the next wave of Bitcoin Billionaires? Tim Draper answers appeared first on AMBCrypto.

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