Intelligent Automation Solutions in
Digital Workforce helping Banks automate over 300 processes
Digital Workforce has worked with pioneering organisations in the banking industry to automate processes resulting in significant savings, improved customer experience, and competitive advantage. As early adopters of Robotic Process Automation, banks are currently institutionalising the use of robotics with the help of Digital Workforce. This involves deploying robotics from the cloud (link: Robot-as-a-Service) and implementing advanced support and maintenance models to enable value generation from robotics on an industrial scale. Banks are also looking to expand the scope of automation through orchestration of RPA and Artificial Intelligence (AI).
Heatmap for Banking processes
|Risk & Compliance||Life insurance||Operations||Contact Center||Sales & loan process||KYC &. AML From rule based to learning AI||Setting up a life saving from web||Account statements||Classifying customer messages by utilising AI||Making changes to a loan pay back schedule|
|Real time analytics with RPA||Early withdrawal||Serving death estate||Enhancing after sales processes||Online loan application|
|MIFID II and contract update & archiving||Closing a Pension Savings account||Blocking a card||Updating customer address||Mortgage loan prehandling|
|LOG data for audit trail||Make a monthly saving to a Pensiion Savings account||Family onboarding||Customer transfers between branch offices||Pre handling of fast credit applications|
|Sanction Screening||Month end recurring accruals||Closing an account||Real time analytics with RPA|
|Support GDPR compliance with RPA||Real time analytics with RPA||CSAS feedback loop|
Risk and Compliance
This field has great potential for the deployment of robotics and intelligent automation.
Automation can be utilized to improve accuracy, increase sample frequency, and it allow humans to focus on non-routine tasks such as the analysis of exceptional cases.
The most valuable automations delivered in this area include: Know your Customer (KYC); Anti-Money Laundering (AML) screening; authorities’ inquiries; monitoring of payment transaction; the audit trail; and compliance.
The sales process in branch operations and especially on mobile devices is a prime target for applying robotics as a tool.
Digital Workforce works with banks to deploy robots that can enable a faster response to customer requests; process online loan applications, or complete pre-handling of mortgage applications; and deliver fast credit applications.
Our successful robotics tools include loan certificates, overdraft notifications, rescheduling of loan payments, and month-end closing procedures.
The application of robotics often starts with operations and results in a stronger and more efficient back end.
A wide range of options are available from delivering balance statements for an estate to managing family onboarding.
Successful handling of customer transfers between branches; updating addresses; closing accounts; sending notifications to safety deposit box owners, blocking accounts; delivering passwords and security codes, have all been automated for increased efficiency. RPA can also manage customer feedback and satisfaction data for processing by the relevant stakeholder at the bank.
Robotics enhanced with AI can be used to transform the way the Contact Center handles customer requests.
In a situation where the amount of emails or other written contacts is large, you can secure a faster response to a customerby classifying incoming customer messages utilising AI tools and automating the most common tasks. This method speeds up priorisation of the important and urgent inquiries to improve customer satisfaction.
Robotics can enable faster and more effective processes within the bank’s financial administration.
This includes validation of master data accounts; ensuring the completeness and accuracy of interface transfers between subledgers and GL; preparation, approval, and posting of recurring journal entries; preparation of supporting documentation for month end journal entries; revaluation of assets and debts based on group accounting policy; reconciliation of accounts after month end closing; analysis of month end account balances based on predefined criteria; preparation of monthly management reports, Real Time Analytics; automated accounting document archiving; and indirect or direct tax automation proceses are all processes managed by RPA.
Mutual Funds and Life Insurance
Robotics can be applied to enhance fund transactions from the web to the backend system.
This includes registration and revaluation of fund accounting, as well as generating annual customer reports.
In Life Insurance robotic automation is used to set up a savings account from the online interface to the back end, handle early withdrawals or closure of a pension account, manage monthly savings plans for pension savings and secure month end recurring accruals.
In the spotlight
From a small scale pioneer to employing 300 robot colleagues. Read the interesting case study of Nordea, the largest bank in the Nordic region and one of the biggest banks in Europe.
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Head of Banking and Insurance
+358 40 847 8790