Providing automated solution for the Back Office (BO) staff, from capturing all the Consumer info till complete validation for processing the loan.

Process Overview

  • Batch: Standardized manual process, runs for 20 minutes per loan
  • Volume: ~500 in a month that takes ~167 hours
  • Coverage: 80 manual steps
  • Sensitivity: Data accuracy
  • Geography: UK

 

RPA Implementation

  • Stage 1: Bot generates an Application ID, communicates the BO staff that the process is initiated
  • Stage 2: Bot pulls all the necessary info, does credit check, attaches the credit report via .PDF into Loan Processing System
  • Stage 3: Bot transcribes all the info into other 2 core banking systems
  • Stage 4: Bot validates the info now in Government Portal and produces a final report via .PDF into Loan Processing System

 

Value based outcome

  • 80% cut to manual efforts
  • Decreased turn-around, less than 4 minutes for every loan processing as against the current 20 minutes
  • 1 FTE savings every month

Benefit to Enterprise

  • Periodical cost reduction efforts to achieve greater revenue by saving 1 FTE effort