RPA in Banking and Finance
How Can RPA Help Your Financial Institution?
Robotic process automation leverages bots act as digital workers that help financial institutions save money, improve productivity, and mitigate risks while building greater resiliency for their business.
Whether at a bank, credit union, or mortgage company, your customers and members turn to you to save, spend, and borrow with top-notch service. If that isn't possible, they will quickly abandon your organization for another financial institution. To stay competitive, you need a solution that can quickly and accurately manage high-volume processes across complex infrastructures—all while staying within regulatory compliance.
What Financial Institutions Does RPA Help?
Optimize costs and boost productivity with RPA to work smarter at your bank while providing customers with a top-notch experience.
RPA Use Cases for Banking & Finance
Robotic process automation software has the flexibility to automate almost any repeated process and the ability to scale to meet your future needs. For financial process automation, you might want to start by configuring your software robots to take some of the following processes off your hands.
Streamline the tedious data entry involved in loan underwriting and eliminate errors with automated data entry and extraction.
Debit & Credit Card Fraud Processing
Time is of the essence when there's potential fraud detected and RPA can help automatically kick off alerts and other processes.
Get audit history for every step in your process and implement Regulation D Violation Letter processing.
Close inactive credit and debit cards, especially during the escheatment process, in an error-free fashion.
Eliminate the need to manually prepare each individual loan by allowing RPA to group and prepare loans automatically.
Easily manage the priority of incoming customer inquiries to provide quick and top-notch service.
Streamline Know Your Customer processes to easily enforce anti-money laundering policies, as well as identity and risk verification.
ACH Stop Payment
Use RPA to stop ACH payments even faster with an automated process that can kick off when triggered by preset events.
Improve customer engagement with live Q&A featuring automated recommendations for better customer management.
Payroll Information Management
Copy member's existing payroll departments into a new one and clean and mine the data to ensure accuracy.
Get Started with RPA in Banking
Determine Processes to Automate
Starting small is key, choosing a few targeted processes that will give you a quick ROI.
Here are a few recommended resources to help you get started:
- Blog: Getting Started with RPA in Banking: How to Start Small for Big Impact
- On-Demand Webinar: RPA in Financial Services
Read Customer Success Stories
See how other banking institutions found success–like 3,800% ROI–with Automate as their RPA solution.
Take RPA Further with Automate Intelligent Capture for Mortgage Processing Automation
Unleash the Power of Robotic Process Automation
By combining Automate Intelligent Capture with HelpSystems Automate, you can leverage machine learning and AI to streamline manual processes and eliminate costly steps. This ensures loan applications are complete and streamlines the process for getting completed loans into your loan origination software (LOS).
Enhance Automation Capabilities in Mortgage Processing
With Automate Intelligent Capture, alongside HelpSystems Automate, you can do away with manual processing into your LOS, route forms and data electronically for processing, and ensure you leverage the best in mortgage processing automation.
Achieve Intelligent Process Automation
Working alongside HelpSystems Automate, our intelligent document processing solution can reduce manual data entry for mortgage processing between 60 to 90 percent. Out of the box, organizations see 70 percent automation, and within just weeks of machine learning, automation is at more than 95 percent.