Meet the demands of modern business, ensure accuracy, and maintain regulatory compliance with robotic process automation.
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.
Loan Underwriting
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.
Regulatory Compliance
Get audit history for every step in your process and implement Regulation D Violation Letter Processing.
Account Closures
Close inactive credit and debit cards, especially during the escheatment process, in an error-free fashion.
Loan Bundling
Eliminate the need to manually prepare each individual loan by allowing RPA to group and prepare loans automatically.
Priority Management
Easily manage the priority of incoming customer inquiries to provide quick and top-notch service.
KYC Processes
Streamline Know Your Customer processes to easily take on setting up and validating customer data, as well as compiling and screening customer information for risk assessments..
ACH Stop Payment
Use RPA to stop ACH payments even faster with an automated process that can kick off when triggered by preset events.
Reconciliation Process
Replace manual efforts with rule-based automation, verifying each payment entry against bank data and other records..
Payroll Information Management
Copy member's existing payroll departments into a new one and clean and mine the data to ensure accuracy.
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