Digital Bank with $1.6 Billion in Assets Cuts Loan Processing Time by 85% and Errors by 98% Through Robotic Process.
Project Highlights
This project highlights the implementation of a Robotic Process Automation (RPA) program aimed at enhancing operational efficiency. The implementation of RPA has delivered significant benefits, including an anticipated 98% reduction in errors and an 85% decrease in loan processing cycle time. The project also developed reusable processes applicable across various financial products and optimized bot usage, resulting in more efficient license management and reduced operational costs.
Benefits
- Reduced loan processing cycle time by approximately 85%, enabling faster approvals and improved customer satisfaction.
- Anticipated error reduction of around 98%, greatly enhancing process accuracy and compliance.
- Developed a reusable automation process applicable across multiple financial products, supporting scalability and operational flexibility.
- Optimized bot utilization to efficiently manage licenses and lower operational costs.
