The challenge
A leading retail bank sought to enhance their mortgage lending processing using Robotic Process Automation (RPA) to automate the transfer of home loan applications from bank and broker channels into their core banking systems. Their goals included:
- Using RPA to meet increasing customer demand.
- Improving application speed and accuracy.
- Establishing a scalable IT infrastructure.
- Creating a Centre of Excellence (COE) to support internal delivery and future automations.
The solution
To address these goals, the Avec team comprehensively documented the manual process with input from subject-matter experts. Tailored data ingestion processes were developed to handle various source data formats, robust data verification logic was incorporated, and complex RPA solutions were created using surface automation to interact with banking systems via Citrix channels. Real-time data validation was ensured, process functionality was confirmed, and client resources were provided with training and mentorship to build internal RPA capability.
The results
Avec’s implemented solution resulted in:
- An annual financial benefit of $700,000.
- A 30-50% reduction in process cycle time.
- Achieved 70-80% automation, per initial targets, fully covering all rules-based processing and reducing assigned FTEs.
- A 100% success rate for client staff in their foundation training.