Lending and Back office processes have a high potential for automation due to the repetitive nature and strict bank rules for the execution. Especially in the Retail segment exceptions are unlikely to happen and the number of the scenarios is limited. For that reason, automation would be a more sustainable option providing quick returns.

Areas for automation are in the:

Loan origination process

Bank employees need to do many manual checks of the information presented by the customer. Potential automation that does all the checks with information from different sources is recommended for:

  • Verifying the Validity of ID card of Individuals
  • Collateral data check and registration
  • Company’s data validation from the Trade Register
  • Internal communication and decision-making process

Loan booking and Disbursement

This should be recognized as the best fit for Automation with RPA. Nearly 100 % of the consumer loans booking and 60–80 % of the Mortgage loans could be automated and bring serious improvement in Lending.

  • Credit account opening and disbursement
  • Collateral registration
  • Insurances’ details validation
  • Fees collection
  • Refinancing of old loans

Document extraction, validation and storage

This on the other side can optimize not only Lending and back office but also provide the bank with a backbone for any other process which requires the use of documents and the data they contain. Data extraction with Machine learning allows the bank to quickly use data from different formats of documents in any of the processes and then archive it in the Document Archive.

Bank Automation Ecosystem

Graph showing Bank Automation Ecosystem

Co – Relation between Lending automation and Customer Experience

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