Increasing efficiency and scale with cloud-native automation.
In 2019, Patelco partnered with Automation Anywhere for an automation workshop. They developed proofs of concepts for consumer lending, fraud prevention, and member contact center processes. They chose the Automation Success Platform, automating loan payoff and fraud alerts. This led to faster fulfillment, loan payoff calculation, and significant cost savings. Processing time also decreased significantly.Download case study
Our members’ financial health is our top priority. Automation 360 and Document Automation help us improve service, fight fraud and keep our members’ money flowing.
Faster loan payoff calculation
Saved annually with automated Falcon alerts
Patelco reduces processing time from days to minutes, delighting cardholders.
Patelco, a rapidly growing financial institution, needed to maintain high service levels and control operating expenses as it approached $10 billion in assets. To achieve operational efficiency and scale, they turned to intelligent automation. The first process they automated was 10-day loan payoffs, which previously involved manual calculations and document generation. Automating reduced processing time from several days to just two minutes, enabling same-day processing. Intelligent automation was also employed to manage Falcon fraud alerts, resulting in an 88% decrease in processing time and an 83% clearance rate.
- 10-day loan payoff
- Falcon fraud alerts
Expanding automation to transform mortgage processing.
Patelco plans to use intelligent automation to streamline its mortgage application process, improve efficiency, and simplify homeownership for members. They will also explore using Process Discovery for internal audit and compliance, and establish a Center of Excellence.
We work hard to protect our members from card fraud. But high volume and false positives create havoc and our existing manual processes were unsustainable. With Automation Anywhere, we dreamed big and came up with a solution that's having an immediate and huge impact – both on improving our cardholder experience in a fraction of the time it took previously.
Founded in 1936, Patelco is a full-service, not-for-profit established to serve the financial interests of the community.