Quick Operational

Efficiencies in Your
Bank through RPA
Introduction and Case Study
12 November 2022
Introduction
3EM Technologies is an IT and Consulting Division of
SMHG Service (Private) Limited.
The RPA and the BPM consultancy and
implementation service is one of the major shelf
product of 3EM Technologies.
We have helped our customers in the following
sectors.
• Banking and Financial sectors
• Insurance Companies
• Pharmaceuticals
• Foods and Beverages
• Healthcare
RPA – What is & What is Not?

RPA is RPA is not

▪ Group of robots known as Bots, to do computer ▪ Physical Robot
based monotonous and laborious tasks ▪ Ineffective where composite decision making is
▪ Effective in doing RRF (repetitive, rule-based, required
frequent) tasks ▪ Intended to replace human workforce
▪ Solution which Complements & Supplements ▪ Single dimensional – only focused on one
business or to only reduce cost
human workforce
▪ Business oriented - streamline business
process to drive revenue, reduce costs, surge
accuracy, refine compliance
▪ Based on electronic or machine-readable
inputs
Why RPA in Banking?
Business priorities
Banking and financial institutions have always
been known for their lengthy, manual processes
affecting the overall productivity and customer
satisfaction levels negatively.
The accurate data entry is also one of the major
in this sector, the RPA provides Robot based data
entry solution with 100% accuracy and more than
50 time faster the human.
Employee opportunities
▪ RPA aims to use a computer as a robot.
▪ A Program or Robot can replace humans
performing repetitive rule-based tasks.
▪ Cross functional and Cross application
domain.
▪ Set of coded instructions that tell a
mechanical device and electronic system,
what tasks to perform.
Tasks we can Botify
Top 10 RPA use cases in banking

1. Customer onboarding 6. Credit card processing

2. Compliance 7. Fraud detection
3. Loan processing 8. Know your customer
4. Customer service 9. Account closure

5. Accounts payable 10.General ledger

Why is RPA important?

Automation drives high-value work

An average bank employee performs multiple

repetitive and tedious back-office tasks that
require maximum concentration with no room
for mistakes. RPA is poised to take the robot
out of the human, freeing the latter to perform
more creative tasks that require emotional
intelligence and cognitive input.
With the right use case chosen and a well-
thought-out configuration, RPA in the banking
industry can significantly quicken core
processes, lower operational costs, and
enhance productivity, driving more high-value
work.
Use Case #1: Customer Onboarding

Banks deal with an avalanche of regulatory requirements when onboarding new clients. On top of gathering
personal and financial data, bank employees need to verify that data through approved governmental
organizations, set up an account, and establish data archiving and monitoring processes. An RPA system
can automate most of these processes, significantly decreasing operational costs, risks, and the time it
takes to onboard a new client.
Use Case #2: Loan processing

Essentially, the loan processing volume is capped by the number of bank employees dedicated to
the task. Besides customer service automation, RPA technology in banking can bring real value by
automating many loan administration processes, including underwriting and validation.
RPA software allows for the autonomous consolidation of relevant information from paper-based
documents, third-party systems, and service providers. On top of that, RPA tools can also enter this
data into the appropriate systems for underwriters' further analysis.
Benefits of RPA in banking

According to Gartner, 80% of leaders in the financial sector are already using some form of RPA for
various purposes. Here are some of the most prominent benefits of financial process automation:
Saves time RPA bots complete tasks much faster than humans, allowing banks to complete day-to-day tasks in
shorter time frames.
Minimizes IT department After completing comprehensive training programs, employees can configure RPA bots
interference themselves. This dramatically reduces the IT department's workload.
Cuts down expenses By minimizing human involvement in many processes, RPA implementation allows banks to cut
operational costs by 30% on average.
Facilitates compliance Essentially, recorded RPA bots' actions are an audit trail, which significantly simplifies compliance
reporting reporting.
Increases employee Given that RPA bots alleviate the burden of repetitive and mundane tasks from humans,
efficiency employees can focus on more value-adding activities.
Reduces human errors Unlike humans, RPA bots never get tired and perform tasks with the same accuracy regardless of
the task complexity, which reduces the probability of errors.

Implements seamlessly Compared to the other automation strategies, RPA causes minimal disruption to the established
infrastructure, delivers faster ROI, and takes less time to implement.
Benefits of RPA Technologies
Challenges of robotic process automation in
banking

Despite numerous benefits RPA can bring and its comparatively undisruptive implementation,
adopting this technology is not easy. Here are the three most recurring challenges that financial
institutions face when trying to integrate RPA into their operations:
How to implement RPA for your bank?

There are several important steps to consider before unfolding the RPA implementation process in
your organization.
Choose Right Use Cases

Selecting the right processes for RPA is

one of the major prerequisites for
success. Banks have thousands of
repetitive processes for potential RPA
automation. Relying on intuition rather
than objective analysis to select use
cases can be detrimental. Selecting
use cases comes down to a company-
wide assessment of all the processes
based on a clearly defined set of
criteria.
Below we provide an exemplary
framework for assessing processes for
automation feasibility. The processes
above a cutoff point can be selected
for automation.
Why “OpenRPA” with 3EM Technologies?

OpenRPA is a software robot that mimics what a human would do at a computer from
updating/moving data to performing actions in the user interface. It is an easy-to-use open-source
automation tool with a drag-drop interface like mainstream Robotic Process Automation tools
vendors.

It is a simple yet powerful automation option, especially when combined with Open Flow. You drag-
drop automation building blocks to build your automation workflows. It looks a lot like the popular
RPA UiPath. 3EM Tech has already done many successful deployment of OpenRPA in the banking
and financial industry
3EM RPA Execution Framework

The RPA implementation starts with designing a detailed framework for adopting use cases, which
involves establishing both process and technology requirements and defining success metrics. Every
bank's infrastructure and underlying software architecture are unique, meaning that seemingly minor
issues can transform into significant bottlenecks down the path. However, considering all possible
issues that can arise during implementation is difficult. Banks should come up with various backup
plans if things go south.
Based on vast experience of implementing RPA on the banking, 3EM Technologies will guide the
bank step by step for building the RPA execution framework. Once the framework is ready, it is time
to run pilot projects for the selected use cases. While most RPA bots rely on rule-based decision-
making, it does not mean that they can’t adjust to reasonable process variability. That is why it is
imperative for teams to iterate bots based on their performance in different scenarios.
Lastly, successful RPA implementation is not a one-time endeavor. Having determined key
performance indicators and success metrics, banks should continuously measure how exactly the
RPA deployment affects processes – 3EM Tech will be available at every stage.
Thank you
Thanks to your commitment and strong work ethic, we
know next year will be even better than the last.
We look forward to working together.

Syed Farrukh Manzoor

farrukh.manzoor@3em.tech