With Hyland RPA, or robotic process automation, the financial institution now has access to a comprehensive RPA suite, from process analysis to bot management. Hyland RPA seamlessly integrated into the bank’s back office program landscape. It now completes the regulatory report each day in minutes, while also nearly eliminating any possibility of human error.
RPA is an ideal solution for business processes that require human intervention because it replicates many of the activities done by human workers. For example, data entry, data validation and ticket routing can all be completed by software robots. When RPA is combined with a product that intelligently captures paper-based data and converts it to structured data, the entire data intake process can be automated.
At the bank, employees now initiate the new automated reporting process with an email indicating that all data is available. Hyland RPA then triggers an automated process that seamlessly compiles the data and report. The robot navigates the complex user interface of the bank’s back-office software via image recognition. A SOAP API service validates the data and further reduces the error rate. The solution tracks the process continuously, automatically informing the correct contact person if any problems occur, such as missing data records or transaction errors.
At the end of a process run, the RPA solution sends a summary to an employee, who approves the reporting. Hyland RPA then forwards the full report to the bank’s CFO.