A large US based bank holding company that offers consumer and commercial banking, securities brokerage, asset management, mortgage, and insurance products and services
Situation
The Insurance arm of one of the leading US banks wanted to transform two shared services centers to enable the growth of the organization by enhancing experience of end users. However, the bank neither understood RPA and its capabilities nor had the visibility to the right business processes they could select/prioritize for automation.
Impact
- Poor customer experience and poor Net Promoter Score (NPS) because of increased handling time due to manually performed activities.
- Non – streamlined processes leading to high error rate and longer handling times.
Solution/Resolution
Solution/Resolution
- Conducted detailed workshops & interviews with stakeholders/process experts to discover automation potential in all business processes.
- Created the business case by assessing processes based on automation potential, FTE savings, cost of development and proposed prioritized automation road map.
- Re-engineered processes to increase process adherence and reduce error rate & average handling time.
Outcome
Direct Benefits
- The Proposed solution has a coverage of 70% of overall processes.
- AHT got reduced by over 30% for all processes due to automation.
- 40% reduction in the overall manual effort due to automation.
Indirect Benefits
- Massive qualitative benefits in terms of compliance, increased customer satisfaction, increase in NPS value, reduced error rates, improved time to market.
- Identified multiple inefficiencies in the existing processes and helped client re-engineer them.
- Significant increase in volume of business transactions (30%) was handled without significant increase in head count of support staff.
One of the most well-respected trusted corporate banks in the UAE
Situation
One of the leading banks in Middle East wanted to kick start their RPA program but did not have the expertise in selecting the right business processes that could give them maximum ROI.
Impact
- Unable to prioritize processes and create an automation pipeline.
- Required major process mapping and documentation exercise for requirements analysis as existing documentation was dated or absent.
Solution/Resolution
- Conducted a rapid 3-week process discovery workshop and interviewed process experts using data driven frameworks.
- Prioritized processes and identified business value of automation across 4 departments and created a pipeline of 30+ processes.
- Mapped As-Is and designed To-Be state for each of these processes.
Outcome
Direct Benefits
- Identified Un-assisted and Assisted automation opportunities that have 75 % automation coverage.
- Implementation of this solution has potential to reduce overall cycle time by 45% and handling time by 30%.
- Handed over requirements to implementation team to immediately start a multi-year RPA program worth over 1.5 MUSD.
