How RPA has evolved the financial sector: Case Study
The Robotic Process Automation (RPA) is a technology that enables the automation of repetitive and tedious tasks through the use of digital robots, combining Intelligent Automation with Artificial Intelligence. These robots can mimic human actions and work in conjunction with a company's existing systems to streamline processes and improve efficiency.
In this article, we want to share a real case of how RPA has evolved a business and provided a significant competitive advantage over its competitors. We are talking about a company in the financial sector in the financial sector that manages mortgage loans.
Prior to implementing RPA, the company had a team of more than 50 people who were responsible for processing client data, verifying information, and performing the administrative tasks required to grant loans. This process was slow and prone to human error, resulting in low client satisfaction and lost revenue for the company.
After evaluating several options, the company decided to implement RPA to automate the data processing process. With the help of an experienced RPA provider, the company designed and deployed several software robots that were programmed to perform specific tasks such as data verification, document validation and report generation.
The results were astounding. Processing time was reduced by 80%, allowing the company to process a higher volume of credit applications in less time. In addition, the human error rate was reduced to zero, increasing the accuracy and reliability of the data processed.
But the benefits of RPA are not limited to improved efficiency and accuracy. They also translated into increased customer satisfaction. The company's customers noticed a difference in the speed with which their requests were processed and in the quality of service. This is why RPA technology has been booming in recent years and is expected to continue to grow strongly.
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