RPA in Banking and Finance Industry

In this digital age, banking and financial institutions are one of the first to adapt to new technology. The digital systems are already making a difference in frontend and back end services. With AI and Machine Learning, RPA solutions can put thinking into work, making them more helpful. Banking institutions have huge potential use for automation due to the large number of manual and mundane processes.

Our Intelligent RPA Solutions has a differentiating factor that can service both IT and business process at the same time – freeing up talent from repetitive work. It provides operational efficiency and reduces costs with increased compliance. Our RPA solutions   reduces implementation cost with its simple and faster implementation process through our unique Ready Action Bots.

Challenges for Banks and Financial Institutions

RPA Impact on Banking & Financial Institutions:

  • Claim Processing

  • Anti-Money Laundering

  • Bank Account Opening

  • Compliance

  • Credit Underwriting

  • KYC Process

RPA in Insurance Industry

Insurance companies are vigorously immersed with back-office forms as most of the documentation process is paper based. Insurers regularly handle an exceptionally high volume of business processes like claims-processing and underwriting as well as providing policy quotes manually which creates significant delay in time and affects the customer satisfaction, business conversion and profitability.

Our Intelligent RPA Solutions with AI capability can analyse large volumes of data and deal with exceptions and translate them into insights to take actions. To go beyond just cost reduction and efficiency by adding significant value to businesses with a personalized and higher degree of self-service.

Processes that could be automated in Insurance Companies

Entry Process

Entry Process

  • Insurance quote generation
  • Proposal generation
  • Policy generation
  • Renewals
  • Underwriting

Servicing Process

Servicing Process

  • Endorsement
  • Reporting
  • Claims for Insurance
  • Reimbursement/Cashless Mediclaim
  • No Claim Bonus(NCB) transfer (B to B)
  • Payment/Premium Suspense

Exit Process

Exit Process

  • Surrender
  • Death Claim for Life Insurance
  • Maturity Claim for Life Insurance – Money Back
  • Claims Payout

RPA in Telecommunication

Telecommunications is a fast growing, leading edge industry which helps us stay connected. With this fast growth, come challenges. Rapid growth increases the burden on operational processes like managing data, increasing cost, quality of support and many more. These challenges prevent telecom companies from providing better customer service.

With the inclusion of Robotic Process Automation, the telecom industry can increase the operational efficiency and speed of operations thus reducing the cost pressures. Automating processes will streamline process and increase customer response time with accuracy. The commonly automated processes in the telecom industry are service fulfilment, service assurance, billing, revenue management and network management etc.

After implementing RPA, this vertical can leverage improved service delivery, reduced cost, decreased human intervention and high level of scalability.

RPA in Shipping and Logistics Industry

The transportation and logistics industry are rapidly going through digital transformation. Analysis by the World Economic Forum and Accenture states that there is $1.5 trillion of value at stake for logistics players, and a further $2.4 trillion worth of societal benefits, as a result of widespread digital transformation in the transportation industry.

Shipping and logistics companies are highly under pressure on budgets by customers and shipping firms demanding higher prices for their services. In the shipping and logistics industry, back office operations like updating customer details on portals with the current status and ETA, scheduling a delivery, or tracking are performed manually.

Exelligent Technologies Intelligent Robotic Process Automation can automate such mundane tasks and can work round the clock, increasing operational efficiency, productivity and reducing associated costs. By automating the core business processes, the task will be less tedious and will meet SLAs and improve customer expectations.

RPA in Manufacturing Industry

Manufacturing industry was focused on optimizing the operational processes like assembling, testing and packaging products using physical robots. But the industry still struggles to keep back office processes like invoice processing, procurement, vendor communication and report generation in check.

In order to remain competitive, manufacturing industry must focus on optimizing these processes using robotic process automation to reduce costs while improving efficiency.

When there is a significant volume of work that must be processed frequently, RPA is most effective solution to optimize these repetitive back offices like quoting, invoicing, accounts payable, accounts receivable, general ledger operations, sales pipeline and Pricing Report Creation.

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