More tidings! Laiye Technology UiBot received the “Best Banking RPA Solution Innovation Award” at the “2019 China Retail Banking Innovation Summit & Golden Deer Award Ceremony” (RBI2019)
RBI 2019 is one of the most important retail banking industry events in mainland China. It is jointly held by ZefANG Financial Research Institute, Shanghai Pudong International Society of Finance and Asian Finance Federation. The summit by sharing across the world’s most successful retail banking digital transformation of case and the value of the most innovative ideas and technology, further research and discussion on the current market opportunities and innovation trend of retail banking in our country, from commercial Banks, financial technology companies, more than 300 top solution providers on behalf of attending.
Right now, RPA+AI is sweeping the global banking industry. As of early 2019, more than 56 percent of companies in the global financial industry have adopted AI and RPA to simplify their work processes and improve the efficiency of the financial industry by more than 60 percent, according to a McKinsey survey. According to Mainichi Shimbun, sumitomo Mitsui Banking Corp, Bank of Tokyo-Mitsubishi UFJ and Mizuho Bank, the three biggest banks, have also started implementing RPA. In addition, IDC Financial Insight reported in April 2019 that nearly 10 banks in the Asia-Pacific region have successfully deployed RPA early on.
1. Customer Demand Service RPA can solve low-priority queries and enable the customer service team to focus on high-priority queries. In addition, RPA can reduce the time required to verify customer information across systems, reduce customer wait times and improve bank-customer relationships.
2, mortgage loan processing application loan must go through a variety of checks, any slight error, may lead to a prolonged loan period. With RPA, banks can speed up processing according to set rules and algorithms and break through the bottleneck of process delay. 3. Account closure Banks can use RPA to send automatic reminders to customers asking them to provide the proof they need to close their account. The RPA robot can process account closure requests in the queue with 100% accuracy in a short time. 4. KYC process “Know Your Customer”, knowing Your Customer is a very important compliance process for banks. Given the costs and resources involved in KYC, banks have begun to use RPA to collect customer data for screening and validation. This helps the bank complete the entire process in a shorter time, while minimizing errors and manpower. 5. Fraud detection RPA can identify potential fraud and flag it to the relevant authorities. If multiple transactions are made within a short period of time, the RPA identifies the account and flags it as a potential threat. This helps banks scrutinize accounts and investigate fraud. General Ledger validation Given the amount of detail required to create financial statements from different systems, it is important to ensure that there are no errors in the general ledger. The application of RPA helps collect, validate, and update information from different systems without any errors. 7, consolidated statement RPA can automatically export and process system data, so that the statement data can be automatically summarized and combined offset, to achieve automatic generation of financial statements, greatly shorten the generation cycle of financial reports. 8. Transaction Error Correction RPA can compare, analyze and correct the order information after the customer completes the transaction. Once the wrong transaction is found, the error can be quickly found and the information sent to the management in a timely manner.
UiBot, the leader of RPA+AI in China, has 18 years of RPA project experience and security technology accumulation, providing professional and comprehensive process automation solutions for the banking industry, and helping to create a new ecology of “efficient and cost saving” banks. UiBot bank robot can replace manual to complete batch repeated operations on the computer, greatly reduce the input of labor costs, effectively improve the existing office efficiency of the banking industry, and complete work accurately, stably and quickly. Compared with traditional automation, UiBot has the following advantages in the banking industry: ● Safe and stable, does not affect the deployment of THE original system UiBot robot, does not need to change or upgrade the existing core IT infrastructure inside the bank. No programming requirement UiBot does not need programming experience, its module resource library will be equipped with commonly used modules, employees can directly drag and drop the mouse to call. ● Rapid implementation UiBot robots can be tested in short iterations and deployed and implemented in a few weeks. ● Easy to update UiBot can be installed or updated in less than a week when the banking process changes. ● Minimal IT intervention front-line employees can be trained to maintain and “manage” their own UiBot robots. ● Improve employee satisfaction UiBot frees employees from heavy, repetitive and tedious work and focuses on more interesting and challenging tasks. No rest UiBot can work all year round. Banks don’t have to pay for overtime or health insurance or worry about robots quitting their jobs.
● Loan processing With UiBot, banks can dramatically speed up customer verification during loan processing by automatically validating customer data on government websites, such as tax payment or property appraisal websites. Consumer loan processing time has been reduced from 30 minutes to just 10 minutes. It used to take weeks for banks to validate and approve a customer’s credit card application. With THE help of UiBot, it takes only seconds to collect customer documents, perform credit checks and background checks, and make a decision based on the set parameters of whether a customer is eligible for a credit card. ● Accounts Payable Query UiBot digitizes invoices using OCR (Optical Character recognition) technology, extracts information from them, validates it, and then processes it, automates the Accounts Payable (AP) process, and automatically credits payments to suppliers after reconciliating errors and validations.
Laiye Technology UiBot will show its talents in many aspects of the bank to help the bank enhance customer experience and enhance its core competitiveness.
