By adopting RPA, organizations can overcome many of the barriers like 4 eye authentication process, error-prone transactional processes, rule-based time-consuming back-office operations, and can achieve operational efficiency with enhanced performance at an enterprise level.
Robotic Process Automation for Financial Institution - Case Study
The objective of this process is to validate/verify the credentials of the client to which vehicle loans have been issued by Financial Institution's lending arm along with hypothecation details.
- A team member logins into Vahan* website with necessary credentials.
- After login, they feed the engine number and chassis number of the vehicle into the “search box” of the website and proceeds with the search.
- If the result is found for searched data then team member clicks on the results to open the pdf.
- Then the team member opens the pdf, reads the data and inserts the data into the final excel sheet with flag indicator as “successfully downloaded”.
- If search results in “no customer data” then the team member updates the final excel sheet with the status “no vehicle found for the customer”.
* Vahan: Centralized Online Indian National Registry for Registered Vehicles.
- The team would perform the same procedure for each customer number of times daily, so this high volume of transactions and repetitive tasks was prone to errors.
- Monthly transactional volumes of around 60K loans issued by the lending bank. Volumes surge to around 100K+ during festive seasons.
- The team was not able to focus on the other business processes that were part of their job description.
- A Robot was designed that could log into Vahan website with necessary credentials.
- After login, the robot feeds the engine number and chassis number of the vehicle into the “search box” of the website and proceeds with the search.
- If the result is found for searched data then robot clicks on the results to open the pdf.
- Robot opens the pdf to read the data and inserts the data into the final excel sheet with flag indicator as “successfully downloaded”.
- If search results in “no customer data” then robot automatically updates the final excel sheet as “no vehicle found for the customer” and saves a screenshot of the webpage.
- Automating login, search, pdf read, excel entries.
- Reduced processing time by 40% which further increased operational efficiency.
- RPA in Action – Downloading Files & Data Massaging
- Robotic Process Automation in Action - PDF Extraction & OCR Capabilities
- RPA for Asset Management Institutions - Case Study
- Robotic Process Automation for Retail Organizations - Business Case
- RPA for Mutual Fund Organizations
- RPA for Media Organizations - Case Study
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