Intelligent automation solutions in
Banking

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Digital Workforce helping Banks automate over 300 processes

Digital Workforce has worked with pioneering organizations 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 institutionalizing the use of robotics with the help of Digital Workforce. This involves deploying robotics from the cloud 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).

Customer Service Automation covers everything from conversation to change in your banking systems

Banks automated the back office first, where the volume was highest and the rules clearest. The customer-facing half stayed manual for a different reason. Serving a customer means authenticating them, then working in the systems that handles their money. Digital Workforce with boost.ai now runs the conversation and the work behind it as one service, at any hour and in your customer's own language.

Your customer is authenticated before anything else

The service first authenticates the customer through bank ID. Now the service can be personal, and it can offer what fits that customer. AI agents in chat and voice AI agents on the phone read meaning rather than keywords.

Card blocks, address changes and repayment dates finish on first contact

The service opens core banking, the loan system or the CRM, makes the change and confirms it. Where a system has no API, our intelligent automation works it under a named service account. Document processing reads the attachments that come with the request. Digital Workforce has already automated over 300 banking processes.

One supplier answers for the whole chain

Banks have to manage third-party risk as part of operational resilience. DORA makes that explicit. The conversation, the integration and the back-office work usually have three owners and three agreements. Your partnership with us has one agreement and one SLA structure. You pay for the work, not the technology.

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Case study
Toyota-TFS-GREY_FS1

Improving adaptivity in a fast-changing industry

Toyota Financial Services Norway (TFSN), a leading provider of car loan and lease services, implements Robotic Process Automation to increase agility and become more adaptive in a fast-changing industry.

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Heatmap for Banking processes

high
Automation potential

High

medium
Automation potential

Medium

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 utilizing 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

Process examples

risk-and-compliance

Risk and Compliance

This field has great potential for the deployment of robotics and intelligent automation.

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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.

sales-processes

Sales Processes

The sales process in branch operations and especially on mobile devices is a prime target for applying robotics as a tool.

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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.

automate

Banking Operations

The application of robotics often starts with operations and results in a stronger and more efficient back end.  

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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.

contact-center

Contact Center

Robotics enhanced with AI can be used to transform the way the Contact Center handles customer requests.

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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.

financial-administration

Financial Administration

Robotics can enable faster and more effective processes within the bank’s financial administration.

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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

Mutual Funds and Life Insurance

Robotics can be applied to enhance fund transactions from the web to the backend system.

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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.

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