Optimizing Loan Processing at Financial Services
  • July 14, 2023
  • bedang banerjee
  • 0

Objective:
The Financial Services Organisation wanted to optimize their loan processing activities by implementing RPA. The manual process involved a large team of 1200 people who checked scanned documents and verified them against entries in systems – a time-consuming and error-prone process. The RPA solution needed to handle unstructured data, including PDFs, images, and handwritten forms and use OCR to extract data for validation. The solution was also needed to ensure data security and improve productivity by automating manual tasks and reducing processing times for loan applications.

 

Solution:
The solution involved gathering requirements from the business team, managing Scrum ceremonies, designing workflow and architecture based on the requirements, generating development-specific artifacts, reviewing codes, building bots, assisting the Solution Architect and Business Analyst, supporting UAT activities, and providing post-production support. The team bridged the gap between the business team and the development team, ensuring a seamless integration of the RPA solution.

 

Benefits:

  1. Improved accuracy and efficiency in loan processing
  2. Reduced processing times for loan applications
  3. Increased productivity by automating manual tasks
  4. Enhanced data security within the organization’s network.
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