THE WHOLE STORY
Many of the processes automated ensured customers received quick service for all their banking needs. Before RPA, processing car loans was a manual task, which meant there could be a time lag in showing the correct balance on accounts. After automation, customers could see the updated balance right away.
Customers, wanting to sell their car, could also now use the bank’s website to compare the average price of three similar vehicles of the same make and model instantly without having to search multiple sources.
Any account activity, such as closing an account, was updated without any delays. Prior to automation, the manual process often resulted in a wait time. Permissions for a deferment on loan payments were completed automatically, and the updated bill was generated and sent to customers with the re-calculated payment amount for the term of the loan.
A big one-off RPA use case was a systems migration, where data needed to be converted from one system to another. The projected cost for a vendor to complete the two-year project was USD 2M. With automation and bots running 24/7, the migration was completed in just 12 weeks with no additional cost and 100% accuracy.
Overall, Santander estimates it has saved more than 30,000 hours in processing time in 2019. With 150 bots currently in production, the decrease in manual work and required working hours for staff has resulted in better, faster, and more accurate customer service.
"Automation allows employees time to focus on work that brings the customer value, work that makes a difference to them.”
— Nina Moller, Process Owner, Backoffice