Up 98% in FV efficiency! Cyclone RPA empowers a rural commercial bank with intelligence transformation

Today, financial institutions are facing a growing demand for business automation around unstructured data sets. To improve quality and efficiency, and actively move towards digitalization, financial enterprises, as the fertile lands for RPA, have been accelerating the deployment of the RPA intelligent automation technology.

In recent years, Cyclone Robotics has joined hands with a number of financial institutions to create exemplary cases to achieve the double-win results, where they accumulated abundant experience for the financial industry in exploring digital and intelligent upgrading. One of them is a  rural commercial bank, where 7 automated processes have been launched in 3 departments, freeing front-line employees from highly repetitive work, boosting their productivity,  and reducing error rates.

Why choosing Cyclone Robotics? Which products selected?

From codeless, non-intrusive deployment to end-to-end one-stop service response,  Cyclone Robotics has the ability to provide excellent services in RPA implementation. In addition, Cyclone RPA, as one of the RPA products with the 3-level guarantee, has uniquely positioned in RPA technology, with its topnotch independent R&D team.

Through in-depth analysis of requirements by both parties, the rural commercial bank decided to purchase 1 Cyclone Controller, 1 Cyclone Starter, and 4 Cyclone Servers, to realize the daily Robot operations through both Cyclone Controller scheduling and the manual triggering from business personnel..

A highly applicable solution from Cyclone Robotics to alleviate business pain points and drive optimization

Cyclone Robotics, in collaboration with Statistical Analysis Department, Operation Management Department, Technology Information Department in the bank, conducted the feasibility analysis and POC on the automation requirements raised by the bank in terms of applicability, scale, and difficulty in implementation, then provided end-to-end services from automated process requirement discovery, business consultation to implementation, operation and maintenance and optimization. Below are some of scenarios involved.

Scenario 1: Retrieving the Uniform Social Credit Code

Business pain points: Highly repetitive work, large data volume, and high error rate

Optimized business process: Cyclone Robotics works with Statistical Analysis Department to establish the workflow, that is, importing the target customer list manually, then turning to the RPA robot to retrieve the uniform social credit codes based on the list from qcc.com, write the result into Excel, compare it with in-industry codes, and generate the comparison report.

With the help of RPA robots, this service can be completed in a timely manner, and monitored by the technical department, bringing 80% boost in efficiency, and 99% increase in input accuracy rate.

Scenario 2: Gen 2 Payment Error Handling System

Business pain points: Inability to process data on weekends, holidays or other non-business days, too much labor hours consumed, and high error rate

Optimized business process: The RPA robot logs in to the Gen 2 Payment Process Management System to complete the reconciliation and settlement, then work on the reconciliation on core businesses,  replacing the human labors.

With Cyclone Robotics engaged, the process has basically been automated. The RPA robot can upload the data and keep them in sync across systems, pushing up the business efficiency significantly. The previous payment management system limited the speed in reconciliation. In case of unexpected situations, the robot will notify employees to avoid omissions.

Scenario 3: Importing the loan data in poverty alleviation projects

Business pain points: Massive data amount to be processed by employees, repetitive work consuming too much energy

Optimized business process:

The RPA robot downloads data via FTP and see if the volume reaches 300,000 pieces of data or more. If so, it saves the data to multiple .txt files with  250,000 pieces of data for each, then uploads the files one per day to the  poverty alleviation  portal, and receives the feedback the next day and downloads it. When all feedbacks are received, it uploads the results to the central data entry platform, then send the SMS message to the business personnel. With the stable process, this service has seen 98% increase in efficiency, which has not only optimized business processes in the bank, but also improved customer services, greatly contributing to the building of the bank's brand and reputation.

Scenario 4: Identifying depositors' categories

Business pain points: Repetitive work, time-consuming, and high error rate

Optimized business process: The RPA robot downloads data via FTP, copies them to Excel, and classifies them for identification by keywords. In case of any enterprises that cannot be identified by keywords, it will log in to qcc.com to retrieve their data, and generate a pivot table and upload it to FTP. Since this process is stable, it can be assigned to the RPA robot to complete automatically as per the preset rules With 90% of the tasks handed over to the robot, the bank employees can be freed from this business.

Highly efficient automated business process to boost customer satisfaction

The RPA robot being deployed in the rural commercial bank can work around the clock everyday, therefore addressing the real pain points in the bank. Those repetitive work will not take too much time, while all businesses can keep running even on weekends and holidays. With the remarkable increase in operating efficiency, and the reduction of burden on the business personnel, Cyclone RPA has received a high praise across the bank.

At present, as the financial institutions are accelerating their journey toward digitalized, automated and intelligent operations, the RPA technology has injected more energy to this endeavor..

Against the backdrop of the digital transformation, Cyclone Robotics stays committed to deliver quality products and services to customers. With its strong technical capabilities and innovative spirit, more outstanding exemplary cases are expected to unveil for the years ahead.