RPA in Banking and Finance
How Can RPA Help Your Financial Institution?
Robotic process automation leverages software bots that act as digital workers, enabling financial institutions to save money, improve productivity, and mitigate risks, while building greater resiliency for the business.
Whether a bank, credit union, or mortgage lender, your customers and members turn to you to save, invest, spend, or borrow, expecting exceptional service at each interaction. If this does not occur, they will likely look to another financial institution.
To stay competitive, you need a banking automation solution that can quickly and accurately manage high-volume processes across complex infrastructures—all while maintaining regulatory compliance.
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.
Experience the Power of Intelligent Banking Automation
Banks need a smarter, faster way to capture data and process documents. We offer easy-to-use intelligent automation tools that empower you to supercharge automation capabilities and maintain control of critical information with more speed and accuracy.
With intelligent automation, you can leverage the best in robotic process automation and intelligent document processing to capture and extract complex document data, reducing your manual data entry by up to 90 percent. Our intelligent process automation solution automatically captures documents as they enter your organization, so you can easily handle common data in uncommon places and make that data usable across your organization.
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:
Read Customer Success Stories
See how other banking institutions found success–like 3,800% ROI–with Automate as their RPA solution.