Intelligent Automation - How Robotic Process Automation(RPA) and Artificial Intelligence(AI) are transforming the Card Operations

1. Intelligent Automation -
How RPA and AI are transforming the Card
Operations
Verinite Cards Conclave
Philippines, 2019
Think Cards, Think Verinite !

2. © 2019 Verinite - All rights reserved
All work described was performed by Verinite or a Verinite affiliate
Few ? for Consideration
2
05
01
Are you struggling to launch new
products because of low
bandwidth?
02
Is there any scope of
improvement of efficiency in your
business processes?
03
Are you still dependent on BPOs for day-
to-day operations?
04
Are there regular customer complaints
arising out of manual errors?
Do you have concerns that your sensitive
data may get leaked from your systems?
05

3. © 2019 Verinite - All rights reserved
All work described was performed by Verinite or a Verinite affiliate
Evolution of Intelligent Automation
3
Structured Data
Interaction
Robotic Desktop
Automation
Robotic Process
Automation
Machine Learning
Natural Language
Processing
Artificial
Intelligence
Supports
Human Actions
Structured Data
Mimics human
actions
Structured Data
Mimics human
actions
Structured Data
Augments human
intelligence
Unstructured
Data
Augments human
intelligence
Unstructured
Data
Mimics human
intelligence
Unstructured
Data

4. © 2019 Verinite - All rights reserved
All work described was performed by Verinite or a Verinite affiliate
Intelligent Automation – Value Drivers
4
Ease of
deployment
Enterprise
Solution
Business
Process
24x7
Availability
Efficiency
Cost Benefit Scalability
Accuracy

5. © 2019 Verinite - All rights reserved
All work described was performed by Verinite or a Verinite affiliate
RPA – The first frontier of Intelligent Automation
5
70%
Manual and rule
based process
92%
Improvement in
compliance because
of action traceability
20%
Equivalent work of
FTE resources done
by Robots
55%
Cost savings on rules
based processes

6. © 2019 Verinite - All rights reserved
All work described was performed by Verinite or a Verinite affiliate
Guidelines for successful RPA implementation
6
1
Roadmap for
implementation of
RPA in Card
Operations
Steps to create a roadmap
• List of all processes that are good fit for RPA
• Identification of processes which require process optimization
• Evaluation of benefits and ROI for each process
• Prioritization of processes based on highest potential for success and impact
Major risks to consider
• Process with insignificant business impact
• Process with higher cognitive tasks
• Sub optimal process
Quick Statistics
77% organizations with RPA initiatives
have less than 10 RPA bots

7. © 2019 Verinite - All rights reserved
All work described was performed by Verinite or a Verinite affiliate
Guidelines for successful RPA implementation
7
2
Setting the
expectations right
for different
stakeholders
Expectation
• Single RPA tool will automate all
manual processes
• The process efficiency increases
because of use of RPA
Reality
• Pre requisite - Process optimization
More than 40% RPA initiatives fail to meet business expectation
Cost and Headcount Revenue, Faster Service,
Customer complaint, compliance issue
Standard digitalized data and rules
based process
RPA
Non-standard process and complex
decisions
AI /
ML

8. © 2019 Verinite - All rights reserved
All work described was performed by Verinite or a Verinite affiliate
Guidelines for successful RPA implementation
8
3
Selection of right
process to ensure
quick impact
50% of automation projects fail
because of wrong process choiceHigh volume
and high
availability
Error prone
or Standard
process, no
exceptional
workflows
Swivel chair
integration
Stable
process and
applications
Fraud
alert or system
health-check
Data
Entry for
Cards
Origination
Rekeying
data between
multiple
systems
Dispute
management
and transaction
posting

9. © 2019 Verinite - All rights reserved
All work described was performed by Verinite or a Verinite affiliate
Guidelines for successful RPA implementation
9
4
Complementing
tools for enhanced
service
Myth
RPA is a silver bullet for all challenges. This tool will be able to automate all processes
RPA Advantage
• Continuity in service – 24x7
• Scalable solution
• Compliance
• Faster execution
RPA++ Advantage
• Complex decision making – AI/ML
• Unstructured data - NLP
• Creating data insights – RPA and AI /
NLG
How RPA++ is making a difference in cards domain
Banks are now able to automate complex processes like Underwriting using RPA++

10. © 2019 Verinite - All rights reserved
All work described was performed by Verinite or a Verinite affiliate
Guidelines for successful RPA implementation
10
5
Collaboration
between IT and
Business team
from start
• Process Automation took 3 days while deployment required additional 5 days
• Process had to be rebuilt as IT deployed a change which impacted the workflow
Process Team
• Build process
• Optimize process
• Configure bots
• Update bots
IT Team
• Deploy process
• Regular maintenance
• Digitalizing data
• Application security and testing
Recommendation – Make IT part of your RPA journey from the start

11. © 2019 Verinite - All rights reserved
All work described was performed by Verinite or a Verinite affiliate
Real Life Implementation and Benefits
11
Automation of Data Entry for Credit Card Origination
CRM system and Origination systems
Data Entry by outsourced BPO team
4000+ Credit Card Applications per day
10 minutes per application
No API available from Origination system
Create / Cancel / Update/ Stage Reversal
Requirement Result
Bots deployed - 4
15 seconds per application
100% (No data issues during DE)
~7500 USD per month
Process was stable and had structured data
Cost saving potential – BPO outsourced

12. © 2019 Verinite - All rights reserved
All work described was performed by Verinite or a Verinite affiliate
Questions
12
Any
Questions?

13. Thank You
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