Financial Services

Loan Application Processing

Process Background

Title document is sent to loan analyst to be keyed into a loan account and sent to downstream process stream via workflow

Process Inputs/Outputs

Unstructured loan documents/ loan processing system

Automation Solution

Rules applied to initial front-end processes to train the  Robot to recognise actionable fields from the documents, extract key data and accept & closeout ticketing request

Benefits

55% automation 

82 % RPA automation + exception handling

96% increase in quality

Processing time decrease from 60+ mins to 2 mins

37 FTE savings

 

Procure to Pay (Invoice Processing)

Process Background

Third-party invoices are sent to the invoice processing queue to be validated by the A/P team

Process Inputs/Outputs

Unstructured Invoice documents

Procurement to Pay systems

Email and Workflow Applications

Automation Solution

Rules applied to initial front-end processes to train the  Robot to recognise actionable fields from the invoice documents, recognise and input the necessary  fields into Procure to Pay system

Benefits

60% Automation with RPA

93% improvement in quality

Decreased invoice cycle time 6-8 minutes to 30 secs (3000+ volumes)