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Automate Banking Compliance and Scale Innovation
Automate Banking Compliance and Scale Innovation
Employing the right automation program helps financial institutions meet compliance demands, control costs,
and scale with ease. Inside, we explore how to apply the full range of automation offerings — including attended,
unattended, UiPath Document Understanding, machine learning-based models, and hybrid robot models — to
reduce regulatory compliance burdens, reduce risk of regulatory fines, and effective regulatory reporting.
Contents
03 Why Financial Institutions Need Automation:
Save, Scale, and Succeed
04 Understanding and addressing banking
pain points
05 Not all automation programs are created equal
07 The right automation strategy for compliance
08
Automation use cases for better
banking compliance
09
Envision a new future with automated
customer onboarding
11
Master case management, alerts investigation, and
fraud case analysis
12 Win at control testing and evidence requirements
13 How automation powers streamlined
mortgage remediation
15 anking compliance needs innovation, and
B
automation is the answer.
Corporate KYC & Mortgage Operations Contact Centre Legal Doc Processing
Client Onboarding • Document Ingestion • Eliminate application • Categorize and
• Data Extraction from and Indexing swivel chair by providing extract data
KYC Docs • Data extraction a single automation • Policy & Contract
• Proof of listing and validation interface data validation &
registration check • Update LOS • Account Servicing administration
• UBO & Sanctions • Onboarding & • 20% AHT reduction • Reduce backlog
• 30% effort reduction Submission to UW • >1MM USD saved • 136k hours saved
• >90k hours saved • Post Close Audit across 200 agents
Testing & Control
AML Alerts Case • Loss Mitigation & Email Servicing • Data sampling
Default Servicing
Management • Classification of email & • Execution
• 70% improvement in auto response
• Case Investigation agent productivity • 20X increase in
• >30k hours saved sample size
• Case Management • 50% reduction in cycle
• SAR Reporting time for loan Chatbot Servicing • 35X increase in speed
• 40% effort reduction • >100k hours saved • Integration with Chatbot
• >20k hours saved • Improved response rate
These factors are crucial for financial institutions that want to empower faster, smarter regulatory compliance
processing with robotic process automation (RPA). More Automation Opportunities in Risk, Compliance
Customer Servicing & Controls .
GOVERN
Scientifically identify automation opportunities
Process Task
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MEASURE Action
Chatbots
Center
10x 40
onboard.
1 2 3 4 5
Onboarding Request Proof of Identity Verification Sanction & PEP Risk Rating Approval Onboarding &
• Submission of requests • Data Extraction from Screening • Risk rating report Account Creation
through online channels Identity docs & verification • Screening of name/s by preparation based on • Account creation on
or physically • Human intervention for searching on 3rd party previous steps core banking and
• Initiation in attended or verification of cases with screening solutions or • Analysis of risk rating and other systems.
unattended mode based exceptions through API calls if automated or human • Online banking
on channel possible approval as per activation & email to
requirement the customer
1 3 5
Preparation Tracking Completion
Remediation
2 Execution
4 Remediation
6
Scoping Assurance
Customer complaint Data Extraction – Remediation Account Summary Quality Check of Interest/Charges
Analysis Customer List Prep Prioritization Remediation report remediation report reversal (if required)
Loan Portfolios Extraction – Cust Customer Accounts Segment wise Other Action
Analysis for Scoping /Statement Analysis QC/QA Approvals
Accounts Statement report Preparation recommendation
Source Systems for Data Gap Analysis Flagging Interest Remediation Communication of
Remediation & Cleansing Overcharge Entries progress tracking action internally
Databases for Data Model Flagging (If require) Remediation reports Customer
Remediation Preparation Fees/Other entries distribution communication
Automation Amenability
Remediations occur at large volumes for banking enterprises, Automation can streamline this process
and they’re important for upholding industry standards and through a blend of attended and
ensuring customer satisfaction. unattended robots.
They most often result from audit findings, customer Specifically, a banking agent can work in tandem with a robot
complaints, or regulatory guidelines, and can involve to review customer complaints and audit and analyze loan
anything from incorrect interest rate charges to inaccurate portfolios. Then, an unattended robot can be programmed
equated monthly installment (EMI) deductions. Such to extract data and put it into the proper format, identify
circumstances are inevitable in the lifecycle of a financial overcharges and erroneous withdrawals, and report back
institution — especially those dedicated to meet changing with an account summary to ensure proper incident tracking.
industry demands.
Why UiPath?
UiPath has been named a Leader in The Forrester Wave™
Robotic Process Automation, Q1 2021 with the highest
rankings in the Strategy, Market Presence, and Current Offering
categories, of all evaluated robotic process automation (RPA)
vendors.