Blog Post Success Story by Functions

Streamline Daily IT Operation in Banking with Automation

About customer

An international bank with more than 15,000 employees.

Challenge

The number of daily IT requests needs handling is enormous, significantly when the quantity of employees in the bank is exceeding 15,000. And that calls for the higher demand for IT staff. However, since the new hires option takes way too much time and effort, our client is urged to either speed up the recruitment process or, more preferably, free up manpower used on highly repetitive and routine tasks.

Solution

Located that RPA is the most potential rescuer to deal with repetitiveness in daily IT operation, the client has collaborated with FPT in design and implementing a tailor-made comprehensive RPA solution – akaBot. The most crucial question for both the bank and FPT is to define which particular process RPA should be implemented. akaBot consulting team has analyzed the current status of daily IT operation and suggest three main types of tasks that are most beneficial to banks for adopting RPA.

Disabling Accounts: The process of disable accounts seems quite simple, yet it is a series of tedious steps. The implemented RPA solution allows virtual bots (akaBot Agents) to automatically handle requests in a split of second right after a request ticket is received. The below graph illustrates how an internal account is disabled with the power of robotic process automation.

Exporting Account Transaction Report: The transaction report processing formerly required IT staff to: The process is not complicated, however, when handled manually, it used to consume much more time than any others. akaBot has replaced the whole process with a virtual workforce that can mimics human actions, even with codes writing, and complete the work much faster and more accurately than humans do. The bot can automatically recognize new tickets, “read” the requesting information and customize command to extract the needed report without any human involvement.

Handling reconciliation: Banks process millions of cross-banking and international transactions on a daily basis. For any transaction made, the bank needs to perform reconciliation, which requires comparing the accounting books of two parties, to ensure the similar records of transactions at both banks.

Results

Boosting productivity and availability: As labor-intensive tasks are executed by virtual bot instead of human effort, less time is consumed. Task processing speed is now four times greater than before. Processes which previously require 2-6 employees are now mostly automated. As multiple tickets are now conducted simultaneously, akaBot implementation decreases the pressure put on IT department members. Moreover, due to the use of 24/7 available robots, human is not required to keep a close eye on the whole process and can spend their 8 hours at work on other higher-value tasks. akaBot RPA solution has successfully solved the problem of manpower shortage as well as productivity and availability.

Fostering accuracy, compliance and security: Furthermore, once RPA is involved, the repetitive tasks are performed by running codes, thus remaining the relatively low error rate (under 0.01%), and at the same time, reduce unavoidable man-made error while leveraging accuracy. Also, with a massive volume of data to deal with in banks, including sensitive data (personal information, account balance and transactions), having robots, instead of human beings, taking care of this processing task can lower the security and privacy risk.

Simulating business development: The robotic workforce can be as large or as small as its owner’s needs, and most importantly, it can be implemented in a blink of an eye with a much simpler process. This RPA toolset enables our client to quickly expand the business without bearing high cost or spending too much time on recruitment procedures.

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