EMI Foreclosure automation
Industry - Banking & Financial Services
Implementation Time - Within 5 WEEKS *
Key Challenges
Our customer found out their EMI foreclosure process is manually intensive lean on the human workforce that comes off in process delay.
Some of the key challenges were:
- Execution of a single request at a time was a monotonous and tedious task.
- Manual Verification and Validation of requests was time-consuming and needed multiple touchpoints for obtaining.
- Verification and Validation of each SR-Request is a complex and high chance of human error.
- Highly depend on a specific skill user resulting a delay in the process.
Our Solution
The solution was to implement the Digital workers to eliminate such repetitive manual processes making the process faster and error-free.
- A bot is designed that fetches the open request of EMI foreclosure from the Siebel application.
- It performs necessary validations and checks and performs completes the process of Vision+ application.
- It Updates and closes the request in the Siebel application.
Automation Benefits
Our client was able to see a significant improvement in the process with some essential RPA benefits.
- The rate of error decreased to 0%
- Making processing time faster
- Massive improvement of Service Levels from 3-4 days to same day
- Optimizing branch staff utilization
- User friendly and better user experience
- Minimized financial and compliance risk
