Our client is a community bank that provides a wide range of financial services, including personal banking, business banking, and loan services. The bank focuses on helping individuals and businesses manage their finances with services such as savings and checking accounts, mortgages, personal loans, and business financing. They also specialize in asset-based lending, offering businesses solutions like cash sweeps and loan servicing to optimize financial operations.
- The manual process of managing Asset-Based Loan (ABL) cash sweeps, rejected advances, and loan servicing Line of Credit (LOC) advances is time-consuming. These manual processes led to errors and inaccuracies
- Repetitive tasks led to inefficiencies and delays
- Manually handling financial transactions created bottlenecks in processing critical data
We enabled an RPA bot for loan servicing tasks:
- Automated the extraction of rejected account data
- Automated the processing of loan advance and deposit transactions
- Efficiency: Reduces manual intervention and accelerates task completion
- Accuracy: Eliminates human errors in data entry, calculations, and reporting
- Time-saving: Automates repetitive steps, allowing staff to focus on more strategic activities
- Consistency: Ensures standardized processing across all transactions
- Real-time reporting: Automatically generates and emails reports with status updates, improving communication and decision-making