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RPA for Banking and Financial Services

Trusted by Leading Banking & Finance Firms Globally

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Success Stories for Banking and Finance Automation

  • 30%
    Reduction in human errors
    40%
    Improved process turnaround time
    85%
    Faster customer communication

    A Mortgage Company Automates Pre-Qualification of New Loan Applications

    Nividous Bots automate the process of pre-qualifying new loan applications allowing accelerated time to customer response and improved overall efficiency. This automation gives loan agents the ability to handle the requests easily and quickly wherever they are.

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  • 70%
    Reduction in report generation cycle time
    65%
    Improved process visibility
    80%
    Reduction in administrative efforts

    Edelweiss Financial Services Automates Reporting using Nividous 'Attended Bots'

    Highly skilled employees used to spend their significant time in generating and distributing several financial reports by navigating through multiple external websites, legacy systems, and emails. This customer utilized Nividous ‘Attended Bots’ to automate these manual tasks with utmost accuracy.

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  • 95%
    Faster processing time
    65%
    Decrease in labor
    60%
    Improved productivity

    A Leading Wealth Management Firm Automates Over 18 Back-office Processes

    In less than eight weeks, Nividous RPA Bots are deployed to automate the end-to-end generation of more than 18 reports, risk assessments, and post-trade processes. The Bots perform several tasks related to copying, validating, and updating data between discrete systems, freeing up the back-office staff and investment analysts to focus on more critical tasks.

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  • 70%
    Faster turnaround time
    80%
    Enhanced process visibility
    50%
    Reduction in operational costs

    Automation of Trade Finance Operations for a Leading Bank

    The processes related to issuing, managing, and closing letters of credit-the most preferred trade finance instrument, were heavily dependent on manual labor and were time-intensive. Nividous RPA Bots were deployed to automate these processes, enabling improved data accuracy, auditability, and visibility.

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  • 50%
    Reduction in operational cost
    45%
    Reduction in process handling time
    80%
    Improved compliance

    Automation of a Bank Guarantee Closure Process for a Leading Bank

    Employees had to manually transcribe the data between multiple disconnected legacy systems to identify bank guarantees due for closure/termination/discharge, generate, and distribute notice letters, and execute reversals/closures. Nividous Bots were utilized to automate the end-to-end process, enabling faster customer communication and improved compliance.

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Digital Transformation for Banking & Financial Services

Digital Transformation for Banking & Financial Services

Digital Transformation, a digital-first mindset, emphasizes on reframing the way banking and financial organizations work to deliver new value propositions through leveraging RPA, AI and other advanced automation technologies. Digital transformation allows banks and financial services companies to integrate new technology solutions, bringing workflows and departments together to achieve performance gains. Reduced manual efforts, improved process turnaround time, an ability to manage end-to-end processes with minimal human involvement are some of the most valued benefits of adopting digital transformation.

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Benefits of Nividous Banking and Finance Automation

RPA in Banking Rapidly Reduces Operational Costs & Compliance Risks

With the early adoption of smart technologies, banks and financial institutions already offer full-service web portals and real-time account information. RPA can further help automate many repetitive tasks across discrete legacy systems. Combining RPA with AI-enabled automation and BPM can help to deliver more consistent services at a lower cost while ensuring regulatory compliance and deeper analytical insights.

Higher Operational Efficiencies

Higher Operational Efficiencies

Significantly reduce human errors, operational costs, and processing time using RPA Bots that work alongside different systems to automate tasks delivering speed and accuracy.

Expedite Digital Transformation

Expedite Digital Transformation

Intelligent automation is the natural step for banks and financial institutions to move beyond siloed automation and embrace a holistic approach to accelerate digital transformation.

Improved Customer Experiences

Improved Customer Experiences

Fast-track deployment of customer self-service options allows free reps to focus on improved customer interactions. At the same time, software bots gather data and use chatbots for speedy response time.

Augmented Workforce

Augmented Workforces

Let your human workforce spend time analyzing data while the software bots automate manual tasks of extracting and transcribing data and documents from multiple discrete systems.

Enhanced Data Accuracy

Enhanced Data Accuracy

Let software bots execute data extraction and entry tasks for hundreds of records in a couple of hours, delivering exceptional accuracy without human intervention.

Reinforce Compliance

Reinforce Compliance

Leverage automation with flexible workflows that allow you to comply with regulation changes quickly. Nividous offers several pre-built models to detect and prevent fraudulent transactions.

Banking and Finance Automation Use Cases

When combined with AI, RPA can enable automation of simple to complex processes at a rapid speed and scale.

From streamlining customer onboarding and loan processing to simplifying regulatory reporting, automation in the banking and finance industry is easier with RPA. When combined with AI, RPA can enable automation of simple to complex processes at a rapid speed and scale.
Accelerate Loan Processing

Accelerate Loan Processing

Analyze unstructured data and streamline document-intensive loan/mortgage origination and risk assessment processes.
Simplify Account Opening

Simplify Account Opening

Automate the process of new account opening to deliver improved customer experience and accelerate time to revenue.
Optimize Trade Finance

Optimize Trade Finance

Achieve friction-less trade management by automating processes related to brokering, risk assessment, report generation, post-trade operations.
Improve Compliance

Improve Compliance

Automate data management tasks for Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance by using intelligent bots.
Nividous Account reconciliation

Account Reconciliation

Nividous RPAS Automated Mailers

Automated Mailers

Monthly account reviews

Monthly Account Reviews

Credit card requests

Credit Card Requests

Credit underwriting

Credit Underwriting

Retail Credit Assessment

Retail Credit Assessment

Nividous Retail Fraud Detection

Retail Fraud Detection

Regulatory reporting

Regulatory Reporting

Nividous Account reconciliation

Account Reconciliation

Nividous RPAS Automated Mailers

Automated Mailers

Monthly account reviews

Monthly Account Reviews

Credit card requests

Credit Card Requests

Credit underwriting

Credit Underwriting

Retail Credit Assessment

Retail Credit Assessment

Nividous Retail Fraud Detection

Retail Fraud Detection

Regulatory reporting

Regulatory Reporting

Is Digital Transformation Relevant for Credit Unions and Banks
ON-DEMAND WEBINAR

Is Digital Transformation Relevant for Credit Unions and Banks?

It is said that digital transformation has become a condition of survival for businesses in today’s world. Get insights into the role that digital transformation plays in the financial services industry, specifically in credit unions and small banks.

Watch Webinar

What our clients says about us…

"Signing documents with a digital signature is a complex process requiring strict compliance check. Nividous RPA Bots successfully automated the process saving us a considerable amount of time, effort and cost. We have also utilized Nividous platform to automate the end-to-end generation of over 18 reports, covering risk, operations and portfolio management functions."

Head of Technology & Transformation

Sanctum Wealth Management Private Limited

Sanctum

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"Today, our customer service delivery officer needs to just key in a few data fields such as the customer account number for Nividous Bot to grab data and statements from the relevant websites to generate a consolidated report. We plan to extend the functionality to allow these requests to come from the customer via our website directly with an AI- or self-service- enabled chatbot."

Senior Vice President

Edelweiss Financial Services

Edelweiss

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"With the help of Nividous platform, we have realized a more than 70% reduction in the time required for franchisee onboarding. Our employees are now spending more time on value-added tasks."

Vice President – IT and Automation

Nirmal Bang

Nirmal Bang

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Additional Resources

eBOOK

Business Process Automation: The Step-By-Step Guide

"This guide to business process automation goes beyond jargon to offer real, actionable advice. You’ll learn, how to conduct pre-planning and build a sustainable automation strategy, which jobs are most appropriate for a first automation project, and the six steps to successful automation.

Download eBook
banking industry
BLOG

Top 10 RPA Use Cases in the Banking Industry

Read Blog
BLOG

Robotic Process Automation in Finance: 3 Real-World Use Cases

Read Blog
BLOG

Digital Transformation in Banking: What It Means in Practice

Read Blog

Banking Automation FAQs

1What is banking automation?
Banking automation is an application of advanced automation technologies to automate manual, time-consuming, repetitive processes so that human intervention is reduced to a minimum. The automation technologies include robotic process automation, artificial intelligence, machine learning, business process management and many others.
2Where can RPA be used in the banking industry?
There are numerous use cases of RPA in the banking industry. Some of the most rewarding RPA use cases include contact center optimization, customer onboarding, trade finance operations, anti-money laundering (AML), bank reconciliation, loan application, report generation, account closure processing, etc. This blog details the use of RPA for each of the above scenarios.
3Why is automation important for banks?
In particular, intelligent automation that combines robotic process automation, artificial intelligence, and business process management technologies enables banks and finance organizations to reduce manual efforts, offer better compliance, mitigate risks, and enhance the overall consumer experience.
4 What can be automated in finance?
Amongst several use cases of automation in finance, automating order-to-cash, procure-to-pay, financial planning and analysis, revenue management, treasury operations, risk management, and general accounting operations are the most rewarding ones in delivering greater RoI in a short period of time.
5How automation is transforming the banking industry?
Intelligent automation is allowing banks and financial institutions to achieve operational efficiencies, consistency, speed, enhanced customer service, and overall better outcomes. As software bots with AI-enabled intelligence perform manual, time-consuming tasks, teams are freed up to perform higher-value functions.

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