Discover the breadth of use cases for intelligent automation in banking
Due to Business Challenges Brought on by COVID-19 (Corona Virus), Automating Processes with RPA and AI is No Longer Optional for Banking and Financial Services Organizations.
Intelligent Automation enables rapid scaling of services by supporting any banking process with a digital workforce to execute and expedite time-consuming tasks. Use RPA and AI to not only maintain but improve banking operations across all departments and teams, from customer service to IT.
Eliminate manual loan processing steps and reduce error rates by 100%
Create flexible capacity by augmenting your team with an RPA digital workforce to support high demand for mortgage loan refinancing. Meet client service level expectations and remain 100% compliant with regulatory requirements, such as dispositioning all new mortgage applications within 5 business days. Applying RPA + AI reduces cycle time and effort by up to 80%, and enables consistent, auditable, monitoring of all customers.
What can Intelligent Automation do?
RISK EXPOSURE ASSESSMENT
Bot extracts required customer data and inputs into LOS systems
Bot logs into and searches multiple public & government domains, pulls required data to perform debt-to-income and loan-to-value calculations
Bot completes credit assessment, scoring, and decisioning
Bot completes all inputs required for underwriting, processing, and loan origination documents
Enable smooth customer service delivery even when facing increased call volumes and staffing shortages
BOT RECEIVES email request from customer and logs in to collect account and transaction history and product/household data from multiple systems
BOT IDENTIFIES customer request for balance transfer between accounts
BOT PROCESSES transfer and confirms balances in both accounts
BOT PROVIDES confirmation email to customer
Peak inquiry volumes combined with time-consuming transactions create a vicious cycle of poor employee and customer experiences. Applying RPA + AI to customer service processes enables elimination of wait-time queues for requests, consistent and auditable monitoring for 100% of customers, and reduced cycle time and effort by up to 80%.
Automate simple system updates to support increased IT requests and IT staff shortages
IT teams typically get stuck on business-as-usual break-fix tasks that consume all available IT time. Introducing Intelligent Automation can immediately uplift IT availability by completing system updates in under 30 minutes, eliminating manual processes and reducing error rates to zero. At the same time, RPA + AI ensures that 100% of system updates are monitored and auditable.
BOT IS TRIGGERED via keystroke and is provided details of update request
BOT FETCHES information on all source systems related to system updates
BOT LOGS into specified platforms/systems and completes system update
BOT RECORDS completion of system update in IT tracking system