Banks are faced with increasing compliance requirements and high customer self-service expectations. The systems to deliver on this are still not fully digitalized and the processes are often performed as a combination of manual processing and some back-end automation. We see many examples from the banking sector, where data is received electronically, but then the process is supported by manual labor in order to update disconnected internal and external systems.
This is both costly and doesn’t support the instant personalized response that customers expect.
With SmartRPA Kapow it is possible to both reduce the cost of manual labor and at the same considerably accelerate the delivery of customer self-service applications to improve customer loyalty and satisfaction.
Additionally the exclusive SmartRPA Authentication Manager makes it easy to implement industry level compliance and audit reporting.
Examples of Automated Processes
Know Your Customer (KYC)
The KYC processes are regulatory required and consists of gathering data on customers, counterparty banks and their board members.
Credit Line Origination
In order to open a new credit line, a number of processes like credit scoring, background check and account opening must be completed.
Registration of Clients
(branches à main office): Ensure that customer data from branches is instantly imported to the central systems, allowing customers full service from the outset.
(system errors): Almost any system in a bank spits out errors they aren’t designed to handle – typically due to a lack of integrations to other internal or external systems.
360° Customer view for meeting preparation
To get a complete view of a customer engagement several sources of information must be visited and information must be consolidated.
Legacy mainframe processes
Improve employee productivty by automating IBM mainframe-based processes and embed them into your employee web portal.
A quick Return on Investment of 1-6 months can typically be expected.
A small danish bank
“With the first SmartRPA robot in production, we had the whole investment in software, enablement and hardware returned in 6 months. Now every robot put in production is contributing positively to our bottom line, we see huge saving potentials.”
A medium danish bank
“We have added several self-service robots in production, that are fixing the disconnect between our customer facing portals and our back-end systems, this actually mean, that we are able to provide instant response to our customers – which especially the younger generation also expect.”
A large swedish bank
“We are implementing SmartRPA Kapow across our different LoB’s and different countries. During the selection process, we have conducted a number of POC’s of RPA software and found that the enterprise scale, ease of use and TCO of SmartRPA Kapow is the best suited on the RPA market for our organisation.”
More than 60 banks are working with the SmartRPA Kapow offering, meaning that the Kofax Kapow software is bundled together with software from SmartRPA and offered as one complete solution.