Bank settlement reconciliation automation Case study | Featsystems

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

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