RPA for the Banking Industry – Automation of CERSAI Process

RPA for the Banking Industry – Automation of CERSAI Process

About Customer:

Our Customer is a reputed bank in India that offers a wide range of services such as personal banking, business banking, investment, insurance, loans & much more. The project was intended to implement Robotic Process Automation (RPA) in the banking system and extract the customer’s data from the Government CERSAI online portal.

 

Business Challenges:

Since the entire process was manual which takes at least 5 – 6 minutes per record to fetch the data from the CERSAI online portal and store it in the banking system. It needs to extract information like Asset details, SI holder details, Loan details, Borrower’s details from CERSAI online portal which is rule-based, time-consuming and error-prone work.

 

RPA Implementation:

1. Software bot access the input excel-sheet comprising approx. 3 lacs Security Interest ID (SIID).
2. Bot logins into the CERSAI online portal and search for each SIID detail as to fetch the data like Asset details, SI holder details, Loan details, Borrower’s details, then feed the data into the excel template.
3. If any SIID has no data in CERSAI online portal or shows the message as ‘Security Interest is already satisfied.’, bot then take the exception screenshot for those SIID and updates the status into the excel template.
4. Bot triggers the process completion email and shares the exception screenshots via email to the relevant stakeholders.

 

Results:

1. Operation time per record has reduced from 5 minutes to 1 minute, ultimately increasing operational efficiency by 80%.
2. A single bot performs the task of extracting data of approx. 3 Lacs borrowers from the CERSAI online portal, which saves the human effort of logging into portal every time the data is required.
3. Bank can radically boost the speed in fetching validated customer database on the Government website, which enhances the banking process such as offering loans and other services to the customers.

 

Check out this Video Demo

 

 

Learn more about RPA:

• 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

Get in touch: info@greysoft.co

 

About Greysoft: Greysoft is an emerging global software technology company. We help Fortune 500 companies to reach their potential through ‘tailor-made technology solutions. We have been working hand-in-hand with the Global Banking & Financial Institutions for 17 years, to solve their tech challenges and help them conquer the larger quest of “Digital Transformation”.