About the client:
The client is a leading Bank offering a wide range of banking and financial products for corporate and retail customers through retail banking and asset management services.
- Manual efforts: Manual removal of lien marking against FDs, authorisation of lien marking by the checkers.
- Complicated processes: Tedious login processes of the operations team to the core banking system.
- Error prone: Time-consuming repetitive tasks and processes are more prone to human error.
- Streamlining processes: Trade operations user creates an input excel file in predefined format with contract reference, FD Account Number, lien Number and lien amount.
- Automation via bot implementation: Users upload the input file in utility and start bot execution. Bot performs file format and data validation. It logs into the core banking system as Maker and removes lien marking against FD. The bot also updates the status against each row and generates an output file. Users download the output file. Further, the checker validates and authorises all lien marking.
- Increased efficiency and productivity: Automated maker and checker functions and bot implementations streamlined all processes improving overall productivity.
- Significant time reduction: Approximately 250 transactions daily, saved 2 FTEs.
- Eliminated human errors: 100% reduction in human-induced errors.
- Optimum resource utilisation: Skilled users were able to focus efforts on other productive activities.