Back Office RPA Solution for American Multinational investment bank and financial services company, also Big 4 Bank with around 10.73% of American bank deposits
Customer Challenge
- Higher waiting time for Mortgage Processing
- Mandate to reduce errors and paper work in the process
- Highly manual process, with redundant and repetitive steps
- Mandate to Improve Customer Satisfaction Rating
NucleusTeq Solution Approach
- Through RPA, the manual & repetitive entries in application processing were automated
- The paper work was digitized through OCR, easier online application & verification, faster underwriting and escalation processing; and reduced process time to a competitive 1 minute from 2 hours approvals
- Process Transformation through Digitization and Process Improvement efforts led to reduced errors
Outcomes Delivered
- AHT improved by a record 35%
- Errors reduced to 0.005%
- Increased loan origination revenue by $12 Million
- AHT reductions and over 25% increased online applications in 2018
- Strongest consumer score in the bank’s history