OrangeWorkforce Use Case
Commercial Banking Automates Criteria Checking for CBOP Approval Process
Industry
Banking
Results
- 1 Bot performing criteria checking for thousands of transactions daily as compared to 5 manpower required.
- Bot follows strictly business rules implemented to perform the criteria checking, thus ensuring accuracy and consistency for thousands of transactions daily
Applications Involved
- Microsoft Outlook
- Microsoft Excel
- INReport ESS
- ESS-DSS
Background
A commercial bank needs to process thousands of Cash Balance of Payment transactions daily using BNM (Central Bank of Malaysian) strict criteria checking to approve or reject transactions. Wrongly approved transactions may cause penalty or return from the central bank of Malaysia, tarnishing the bank’s image.
Manual Process Before OrangeWorkforce RPA:
- Bank employee needs to process each type of cash balance of payment transactions according to the criteria checking defined by central bank of Malaysia.
- There are thousands of transactions to be processed by bank employees daily depending on the transaction type and purpose code/ description of the transaction.
- Bank Employee needs to do various checking on names, registration no, amount, currency, description of transactions, purpose code and others before approving or rejecting the transaction.
- Employee needs to exert effort and pay close attention to detail to ensure accuracy and meet the dateline during the tedious processing
Automated Process with OrangeWorkforce RPA:
- Bot performs criteria checking on thousands of transactions daily at different timings
- Bot produce the outcome of the criteria checking results for user to verify
- Criteria checking done by bot involved cross checking various control table which has information to verify customer details – names (individual / business), registration no, valid purpose code, valid description, blacklisted listing, and other input formatting requirements
- Bot will base on the preliminary checking to suggest the transaction to be approved/ reject
- This automation helps to speed up human verification to approve a transaction or otherwise.
Results After OrangeWorkforce RPA:
- 1 Bot performing criteria checking for thousands of transactions daily as compared to 5 manpower required.
- Bot follows strictly business rules implemented to perform the criteria checking, thus ensuring accuracy and consistency for thousands of transactions daily
