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RPA Use Cases

30+ RPA USE CASES FOR FINANCIAL SERVICES

Automate your processes with RPA and increase customer satisfaction rate

(RPA) Robotic Process Automation Use Cases in Financial Services
VAHAN Transaction system using RPA for Banking Retail Assets - Use Case

VAHAN Transaction system

RPA enabled mobile automation to auto-verify and auto-validate vehicle registration certificate by fetching inputs from multiple third-party applications, in this case, Government mobile applications, mParivahan and Vahan Master

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RPA Use Case for Inventory Funding in Financial Services

Inventory Funding

Get approval for loan indent request from multiple dealers based on pre-defined conditions. Send the approved consolidated data to specific departments via mail for further analysis. Process high daily volume of requests even with the existing resources in a scalable manner.

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Use Case of RPA for Refund Processing in Financial Services

Refund Processing

Disburse the refundable amount to customer’s account and churn a daily volume of 100s of requests. Enter the required data such as agreement number, customer number, check number, and calculate refund amount in system from Excel by using the maker profile. Enter the required fields in the system and approve the entry done by maker by using the checker profile. Refund the amount to the customer on successful approval.

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EMI Registeration in Financial Services RPA Use Case

EMI Registration

Schedule EMI for loan to the customer by using RPA bots. Scrutinize the payment instrument such as cheque that is recieved from the customer during loan application. Validate the cheque account status with the bank based on certain pre-defined conditions. Schedule the EMI.

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RPA Use Case for Report Validation in Financial Services

Report Validation

Engage RPA bots to validate different reports with the trial balance as per pre-defined business rules and validations.

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RPA for Statement Reconciliation in in Financial Services

Statement Reconciliation

Reconcile vendor statements using RPA bots. Convert the unstructured data to structured data to generate a standard format intermediate file. Read the invoice number and supplier name from the intermediate file and call the invoicing system API to get the current invoice details and status. Fetch the payment status and other required details and generate the output file that contains the status of all invoices under the statement of accounts. Log in the CRM system, open the case and reply to the email with the output file and close the case.

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RPA Use Case for Brokerage Processing in Financial Services

Brokerage Processing

Conduct structure verification & updation whenever there is any change in brokerage structure or any New Fund Offer (NFO) is launched. Perform brokerage processing, process payment instructions, and dispatch of brokerages.

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RPA for Debit Card Issuance in Financial Services

Debit Card Issuance

Auto-process card request, including entry and download of investor debit card data for processing and generation of PIN & card data. Generate debit card welcome emailer that is sent to investors.

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RPA for Dividend Processing in Financial Services

Dividend Processing

Use RPA bots for dividend updation, processing, payout, and email dispatch.

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RPA Use Case for Dividend Transfer Plan (DTP) Cancellation in in Financial Services

Dividend Transfer Plan (DTP) Cancellation

Ensure that the Dividend Transfer Plan (DTP) cancellations are processed and whether DTP is canceled or not as per the defined timelines by using RPA bots.

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Email Bounce Tracking in Financial Services using RPA - Use Case

Email Bounce Tracking

Communicate to investors in case of email bounce to update their email ID in the company records. Track delivery of emails sent to investors. In case of soft bounce, re-trigger email. Auto-mark email id for physical communication whenever email bounces more than 3 times.

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RPA Use Case for Online Mutual Fund Registration

Online Mutual Fund Registration (Individuals)

Auto-process the online mutual fund registration mandate submitted by investor / distributor with bots. Register the single / multiple SIP or PSIP as per investor's request, dispatch registration / rejection intimation. Dispatch IPIN in case of registered cases.

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Online Mutual Fund Registration using RPA Automation

Online Mutual Fund Registration (Non-Individuals)

Ensure that the online mutual fund registration transactions through website for corporates or non-individuals are processed and account statements are dispatched (refer subs / redemption / switch) as per the pre-defined timelines by using RPA bots.

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RPA Use Case for Online Transaction Processing

Online Transaction Processing

Ensure the online transactions are processed as per the defined timelines. Auto-process Registration /IPIN generation, login into core system, select transaction and process as per request with RPA bots. Process a whole gamut of online transactions, such as purchase transaction, redemption transaction, switch transaction, SIP / SIP insure registration, and STP/SWP/DTP registration.

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RPA Use Case for Query, Request, Grievance (ORG) resolution

Query, Request, Grievance (QRG)Resolution

Log & resolve the query, request, grievance (QRG) as per stipulated TAT and in line with customer needs. Auto-create service request, allocate cases to respective units for resolution, respond to customer, and close request.

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RPA Use Case for Redemption Processing in Financial Services

Redemption Processing

Auto-process redemption requests and transfer the proceeds to investors for all eligible redemption applications received as per defined timelines.

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SIP Registration Processing using RPA Automation Use Case

SIP Registration Processing

Ensure whether the SIP Insure registrations are processed and registered or not as per the defined timelines. Receive the SIP Insure registration application, process the SIP registration, credit the identification & unit allotment in case of SIP / SIP Insure with cheque, inform SIP approval/rejection to investors.

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SMS Bounce Tracking - RPA Use Case in Financial Services

SMS Bounce Tracking

Communicate to investors in case of SMS bounce to update their mobile number in the company records. Using RPA bots, track delivery of SMS sent to investors and in case of soft bounce, re-trigger SMS, send communication to investor's email ID/letter and request to update/rectify mobile number in the company records.

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RPA Use Case for STP Cancellation in Financial Services

STP Cancellation

Ensure Straight Through Processing (STP) cancellations are processed as per the defined timelines by using RPA bots. Receive STP cancellation request, process it, and communicate to Investor.

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RPA for STP Registration in Financial Services

STP Registration

Ensure Straight Through Processing (STP) registrations are processed as per the defined timelines by using RPA bots. Receive STP registration request, process it, and communicate to Investor.

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RPA Use Case for Subscription Processing in Financial Services

Subscription Processing

Automate subscription transaction processing and dispatch unit statements to all eligible unit holders as per the defined business rules. Read applications, auto-process them, generate and dispatch account statements, auto-send welcome mails and credit identification and clear unit allotments.

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Switch Request Processing using RPA in Financial Services

Switch Request Processing

Automate and process payment switches within defined timelines. Read switch request, process it, generate funding request to bank, generate and dispatch account statement.

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Loan sanction process in Financial Services RPA Use Case

Loan Sanction Process

Log in to loan disbursement application and pick up unsanctioned loan requests. Check the details corresponding to the loan requests in the core banking application. Perform data update as per the business rules and update the document ID in the loan disbursement application.

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Lead Management Portal in Financial Services RPA Use Case

Lead Management Portal

Automate lead management data upload using RPA. After receiving the leads in the online application, download the data, perform data massaging on the raw data, and create uploader file. Next upload the file in the lead management portal from back-end by using RPA.

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Use Case of RPA for Credit Finance Process in Financial Services

Credit Finance Process

Automate the credit finance process by using RPA bots. Read the required data from the Excel file from the shared drive. Log in to the CRM system and search the applicant based on inputs from the Excel file. Next, log in the credit bureau system to retrieve the negative list of applicants and search if the applicant exists in that list. In case of more than one match use fuzzy logic to match using applicant address. Send auto-email to the branch in a pre-defined format with approval/rejection status, tenure, and down payment details for the applicant.

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RPA Use Case for Complaint Processing in Financial Services

Complaint Processing

Acknowledge the customer complaints in line with the SOPs and statutory regulations. Engage RPA to manage the complaint acknowledgments speedily and efficiently.

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RPA Use Case for Client On-boarding in Financial Services

Client On-boarding

Evaluate new customers, auto-retrieve data about onboarding customers from regulatory agencies and law enforcement agencies to speed up onboarding, and auto-onboard them. Ensure credit process compliance, ensure agreement on legal terms, open new account, and make it trading enabled in-line with bank's policy and industry regulations with RPA bots. Ensure digital storage of customer records and auto-retrieval.

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RPA Use Case for Customer Reporting to Regulation in Financial Services

Customer Reporting to Regulators

Auto-collate new customer records, gather relevant data from different sources, and auto-report the onboarding customers to regulators with RPA bots. Ensure clean and consistent data for internal management reporting and regulatory reporting including daily liquidity coverage, delinquency. Auto-assimilate data and free up bandwidth to do analysis and review of those reports.

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Order Management in Financial Services RPA Use Case

Order Management

Automate order management to facilitate and manage the execution of trade orders. Input the order in the trading system to execute a buy or sell order for a particular security.

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RPA Use Case for Trade Execution in Financial Services

Trade Executions

Auto-execute the buy or sell order for a security on submission by investor to broker. Monitor the trade, complete trade capture, allocations and ensure smart monitoring.

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RPA Use Case for Trade Confirmations in Financial Services

Trade Confirmations

Automate regulatory submission requirements, post-trade compliance checks, and issue trade confirmations to customers for the trades executed by using RPA bots. Perform auto-extractions of data by using NLP tools. Auto-monitor and report unsigned confirmations to concerned authorities.

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RPA Automation for Settlements and Payments in Financial Services

Settlements & Payments

Monitor and escalate trades that do not have standing settlement instructions (SSIs) by using RPA bots. Automate calculations and report distributions within organization.

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RPA Use Case for Regulatory Reporting in Financial Services

Regulatory Reporting

Ensure accuracy of information submitted to the regulator by using RPA bots. Conduct full audit and review. Ensure fast approval with intelligent workflows and avoid any regulatory penalties and reputation impact. Automate manual, repetitive reporting requirements of upcoming and existing regulations that mandate frequent disclosures.

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RPA Use Case for Client Remediations in Financial Services

Client Remediations

Reduce remediation effort by cutting down manual processes. Align business practices to comply with regulations. Conduct good reporting and record-keeping to ensure audit preparedness.

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