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A fintech startup sought to streamline its backend operations, including reconciliation, settlement, and customer resolution processes. With a high volume of transactions and reports generated daily, the manual handling of these processes was time-consuming, prone to errors, and required significant staff resources.
Startup
Fintech
6 months
UiPath, Visual Studio, SQL Server, Python, APIs, OCR Technology
The client faced several challenges:
Process Mapping: Collaborated with the client’s staff to thoroughly document existing processes, including ATM-generated and server-stored reports.
Automated Data Processing: Implemented an RPA solution to extract data from documents and reconcile accounts using a 3-way matching system.
Efficiency Gains: Reduced reconciliation and settlement time by over 90% with 99% accuracy through automation.
Automated Reporting: Streamlined daily report generation and delivery directly to staff emails, freeing up time for other tasks.
Customer Resolution Automation: SAutomated the resolution of customer complaints by cross-referencing IDs, with complex cases escalated to appropriate personnel.
The RPA solution reduced the time required for reconciliation and settlement by over 90%, freeing up staff to focus on more strategic initiatives.
The automation achieved a 99% error-free rate in processing, significantly improving the accuracy of settlements and customer resolutions.
The institution saved over $1 million annually by reducing manual errors, improving process efficiency, and reallocating staff resources to higher-value tasks.
Automated reporting and resolution processes allowed staff to start their day with key tasks already completed, increasing overall productivity.
