A Leading Bank Uses Nividous Bots to Automate its Trade Finance Operations
The end-to-end process of managing the most preferred trade finance instrument – letters of credit was highly manual. With Nividous RPA Bots, we are able to automate the daily closure process for letters of credit and provide a frictionless trade finance experience to our customers. We have expanded the use of the Bots to automate other processes as well.
Head – Robotic Process Automation
A Leading Bank in India
Faster turnaround time
Enhanced process visibility
Reduction in operational costs
Industry
- Banking
Processes Automated
- Daily closure process for letters of credit
- Bank guarantee closure process
Automation Highlights
- Bots can be scheduled / called on-demand
- Automation execution on core banking system
- Exceptions handling using rules
One of the fastest growing banks in India
The customer currently services over 6.5 million customers through a network of over 300 branches and ATMs and 200 banking outlets spread across India. The processes related to issuing, managing, and closing letters of credit were heavily dependent on manual labor and were time-intensive. The RPA Bots-enabled process automation improves data accuracy, auditability, and process visibility.
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