OrangeWorkforce Use Case
OrangeWorkforce Cuts Daily Processing Time by 2 Hours for Loan Redemption Statement
Industry
Banking & Finance
Results
- Savings of 2 hours daily to perform the validation checking on request
- Faster turnaround time to customer respond
Applications Involved
- Microsoft Office (Excel, Word, Outlook)
- Sybase database read
Bank uses OrangeWorkforce to prepare the redemption statements for Personal/ Auto/ Mortgage financing. Each redemption procedures involves various criteria checking and validation of customer’s details and the financing status in the core banking system.
The process includes rebate calculations for Personal and Auto Financing in the final redemption amount.
Manual Process Before OrangeWorkforce RPA:
- Manual validation on customer details based on application request form vs Core Banking system
- Manual coordination with other department such as custodian and legal to obtain background checks
- Manual calculation of additional legal fees imposed on client account
- Manual preparation of Redemption statement in word document with final redemption amount verified
- Email redemption statement to respective customerS
Automated Process with OrangeWorkforce RPA:
- Bot download Redemption Statement Request in PDF format from emails. There are multiple emails to be processed daily
- PDF are sent to OrangeVision Form+ to perform OCR scanning
- Results are stored in folder
- User verification on OCR results in OrangeVision Form+
- Completion notification email sent by user to RPA
- Access to Core Banking database to verify customer details such as:
- Account no
- Outstanding balance
- Financing contract details
- Account status
- Final redemption amount calculation based on information above and other business rules such as rebate, legal fee imposed and others.
- Redemption Letter is generated and email to PIC
- Bot send out redemption statement within agreed working days
Results After OrangeWorkforce RPA:
- Process automated end-to-end for 427 customers in 44 minutes only
- Zero human involvement
