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Bank Use Case: PSBC Shanghai
Bank Use Case: PSBC Shanghai
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Bank Use Case: PSBC Shanghai
Bank Use Case: PSBC Shanghai
Industry:Banking
Description:Cyclone Robotics has turned itself into a preferred partner of financial institutions by significantly improving its business efficiency with its Cyclone RPA platform.

Cyclone RPA Intelligent Automation Platform to Boost FinTech Innovation

Introduction

Cyclone Robotics has turned itself into a preferred partner of financial institutions by significantly improving its business efficiency with its Cyclone RPA platform.


Today, RPA technology is in full blossom, which helps enterprises of various kinds improve business efficiency, optimize cost structure, promote more intelligent and digital business processes, and drive digital transformation among them.


Amid the profound financial service transformation and innovation in the digital era, Cyclone Robotics, leader in the RPA industry, has built a Cyclone RPA + AI Intelligent Automation Platform for Postal Savings Bank (Shanghai Branch), which has armed every staff of the bank with an intelligent assistant to automate their repetitive, and low-added-value routine work, thus unlocking their potentials in innovation.

 

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As we know, the business department of Postal Savings Bank Shanghai Branch has quite a lot of regular, and repetitive business processes every day, which may take much time to handle, while being prone to errors.

In the credit business collaboration platform, more than 2,000 auditing tasks have to submit manually every month for human review.

In the provident fund information, reporting, and account manager’s credit entry, several thousands of pieces of data have to be collected and entered manually within the time frame as specified.



Such repetitive work should follow certain rules and constitutes an immense workload for human laborers. They may consume much time for every staff in the bank. However, they are not only prone to human errors but also time-sensitive.

So, the Shanghai Branch has a pressing demand for an automation platform to handle this work, which makes Cyclone RPA the best choice due to the company’s impeccable comprehensive strength.



Cyclone RPA Intelligent Automation Platform, in close collaboration with PSBC Center, has accelerated AI adoption, played its vital role in improving the businesses in various applications across departments of the bank and achieved the goals of enhancing service quality, cutting costs, and boosting efficiency.



In Phase I of the PSBC Shanghai branch automation project, Cyclone Robotics completed the automation of 3 business processes in the Personal Finance Department, Retail Credit Department and Agriculture, and Rural Finance Department;

In Phase II of the project, it has completed requirement discovery from over 30 business processes, which involves several key business systems and business types, with the aim to address key pain points in the daily work of main business heads across three departments.



According to the relevant data, the bank has saved 448 manhours every month through the implementation of Cyclone RPA Intelligent Robot Platform, which not only improves business efficiency but also lowers the total operating costs in the bank.



The Fin-Tech innovation powered by Cyclone Robotics and the PSBC Shanghai branch has also won recognition from professional institutions.

In the Annual Conference on China’s Financial Technology 2020 & The 11th Excellent Innovation Award Ceremony on Financial Technology And Services held in December 2020, Cyclone RPA + AI Intelligent Automation Platform Project was awarded the 2020 Outstanding Contribution Award on Financial Technology Innovation - Management Innovation Award.

 


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