Automating Critical Banking Process
A large bank in the United States recently reached out to us to automate a critical banking process that could change the way they would process transactions. Currently, a huge amount of mundane manual effort was involved in performing these processes that caused the bank to move slower than their competition. Transaction reconciliation, transaction processing and real-time report generation were some of the use-cases we identified to improve the bank's efficiency using robotic process automation (RPA).
Skcript applied its automation skills to solve the business challenge for the bank. Skcript managed the end-to-end implementation of the solution using robotic process automation tool UiPath. The transaction processing, fraudulent transaction segregation and so many such processes were automated with the help of business process owners, Skcript Consultants and the ground-staff who work on these processes every single day.
Skcript completed the automation in under four months, which included Microsoft Excel automation, complex Excel Macro creation and deployment, new process workflows to match the target ROI of the bank, and a near real-time reporting dashboard that gathered data from the results of the automation we performed.
Skcript analyzed the inefficiencies in the current processes using a PDW. The recommended processes to automate and process changes were mapped to the PDW worksheet, to calculate an approximate ROI of the automation.
After a successful PDW, and the buy-in from the stakeholders, Skcript started implementing the designed robotic process automation (RPA) solution for the bank using UiPath, since the tool fit almost all of our requirements for this exercise.
During the UAT phase, the team tested the newly automated workflow in a near-production system and moved on to start a staged roll-out for the entire company very carefully, 10% automation at a time over a period of time, until the process was fully automated. Skcript used a critical feedback loop to make sure the automation process was meeting our standards, and also taking the client closer to the ROI they were expecting.
Skcript applied a very stringent automation delivery process which worked exceptionally well with the bank. They were able to process over 1 million transactions a day, when compared to just thousands earlier.
This new process, enabled the bank to significantly reduce the cost of transaction processing, redeploy their human workforce into intellectual tasks in the company and increase the turn around time for many business units who relied on these business critical processes.
Insights from our consultants.
Unique insights that you can get value from, delivered directly by our consultants.
RPA for You
Read as we uncover genius ways to use RPA in your organization that you might not be aware of.
Take the leap today!
Get started with Skcript's Product Discovery Workshop today.
In 72-hours, your business gets a clear roadmap on the next big product you have in mind.Learn more →