?? RPA Case Study: Reduction of repetitive manual tasks for Financial Service provider??

Challenges

A service provider for community financial institutions was facing challenges when it came to the ever-growing amount of manual processing it required of their employees. This was a problem impacting its business across credit card, debit card, core, fraud, ATM, merchant, marketing, training, risk, and even ACH. This was causing added strain on the business as this resulted in a large number of human hours were lost to thse tedious tasks.

Another key challenge was the sheer abundance of these tasks and the number of clients across industries and the processes had significant variation in functionality. This led to even further increases in the time and effort involved. Employees performing these tasks experienced low productivity due to the repetitive and tedious nature of their tasks. In order to handle high volumes, the company needed to invest additional resources and employees to complete these tasks and to reduce operational risks while increasing commercial outcomes.

"ATC’s domain expertise and continued synergy with our team allowed us to considerably reduce the amount of resources devoted to repetitive processes. This freed up valuable people resources that could be allocated to the creative, innovation-led parts of our business. Ongoing training by ATC is helping our engineering teams to identify and create RPA solutions for other monotonous, labor-intensive tasks that can be automated."

Solution

American Technology Consulting-ATC developed a plan of automating the processes using Robotic Process Automation (RPA). ATC identified clients' processes and analyzed each stage in detail to understand the sustainability of using RPA to eliminate the monotony of work and human efforts involved in managing high-volume tasks.

The use of RPA has proven effective in reducing the number of errors in repetitive, process-based tasks which is incredibly important for a financial services company. ATC deployed an operable solution across the platforms, which was carried out in the following phases:

Discover:

During the Discovery phase, ATC worked to understand all the processes taking place in the organization, documenting those with the support of domain, process & operation experts to create an assessment report.

Define:

During the second phase, ATC analyzed and prioritized a process plan for implementation, defined the project plan, and shortlisted the RPA vendor that best fit the desired outcomes.

Design:

Once the plan was in place, ATC designed the overall solution and enabled the workflow for each process with all the inputs and outputs by identifying modular reusable elements.

Develop:

ATC developed, tested, and iteratively deployed the bots.

Constant Support:

After the RPA bots were deployed, ATC frequently monitored the processes to identify areas of improvement and provided support to enhance existing processes.

Results

• 50 % Reduction in manual FTE interaction
• 40 % Decrease in processing time
• 100 % Reduction of AHT

Conclusion

The tasks that used to take 8 minutes to complete manually are now completed by the RPA bot in 30 seconds, saving 93.75% of the employee time. It should be noted: These new automated processes remain under the control of the team members, unlike when outsourced - an approach taken by number of companies.

Employees, now free from mundane tasks, are able focus on more important and rewarding work. This has resulted in an increasae in empoyee productivity. The tasks performed by the bots are now error-free and the company can now handle more volume.

American Technology Consulting-ATC is a multifaceted consulting firm HQ'd in Des Moines, IA with offices globally. ATC consults and delivers innovative tech projects from RPA and AI to custom App/Saas and Digital Transformation.

Learn more at www.atc.xyz