RPA in Banking and Finance
Automating business processes in banks create substantial cost savings, process efficiency and accuracy
Our clients have achieved cost savings and improved productivity and accuracy in their processes with automation
We have helped some of the largest banks in Finland and Vietnam achieve cost savings, increase operational efficiency and productivity through RPA along the years.
Banks have traditionally been on the forefront of implementing software robots. RPA solutions in banking have significant impact potential where the precision and efficiency provided by RPA is particularly needed in processing large amounts of data.
Benefits of RPA in Banking processes
Increased speed and productivity
RPA speeds up processes and increases efficiency by processing data quickly or transforming data between systems.
Enhanced customer experience
Robots permit quicker response to customer requests and better management of customer feedback and satisfaction data.
Higher cost savings
RPA creates immediate cost savings and RPA investment's payback time is usually a few months.
Process quality and accuracy are improved when the amount of errors in processes are reduced.
RPA use case examples in Banking
Treasury & Liquidity
Collections and Risk & Compliance
RPA Customer stories in Banking
POP Bank has been using software robotics since 2017 to develop their customer service, improve the quality of processes and streamline their back-office operations.
CASE EXAMPLE: STUDY LOAN APPLICATION PROCESS
Finnish education system generates annual demand peaks for study loans during Spring and Autumn as students get accepted to degree programmes, which calls for significant amount of manual work in the bank. RPA was utilized for freeing human labour for more value adding tasks.
Upon new study loan applications, bank clerks need to gather applicant background information from Customer Information System, fill in an internal form, apply for loan warranty in external system and mark the application as accepted in the system.
With RPA it was possible to significantly reduce the FTE related to the manual process and speed up the process during peak seasons.
The future goal is to enable end-to-end automation for loan application process with bank employees and robots interacting with each other
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