Intelligent Automation enables banks and financial services companies to transform manual, data-intensive, operations while meeting stringent and constantly changing regulatory requirements. In addition Robotic Process Automation(RPA) reduces costs, delivers rapid ROI, improves KYC/AML analysis, improves customer service, satisfaction and retention, streamlines operations and reduces risk, and increases resource capacity to manage peak requirements.
Use Cases
Loan Application and validation
Creating a seamless customer journey initiated from a smart device and delivering decisions in minutes rather than days.
Trade finance
Co-ordinating multiple international parties and ensuring the delivery of goods and payments.
Account closure
RPA bots automatically cancelling direct debits and standing orders, transferring interest charges and funds.
Same-day funds transfers
Replacing manual Clearing House Automated Payment System(CHAPS) processes taking minutes with RPA bots which complete the tasks in seconds, checking for fund availability, cerforming the transfer, charging the customer, and finally notifying the account.
Card management
Supporting processes such as lost/stolen card replacement, charge reversals, billing processes, or card blocking decisions (based on customer requests). Reducing the workload of employees, improving cycle times, and enhancing customer experience
Know Your Customer (KYC)
RPA bots automatically processing data and managing the entire KYC processing cycle, including receipt of documents via fax, mail, courier, scanning, processing, validating, document management, archival, retrieval, and generation of MIS reports. Typically a 50% reduction in employee time, and a 60% increase in productivity.
Regulatory monitoring
leveraging RPA to optimise anti-money laundering processes for due diligence on prospects, clients for periodic review, and subjects of suspicious activity monitoring. Enhances regulatory compliance and generates 75% saving on previous due-diligence costs.
