The Challenge
Modernizing Labor-Intensive Business Processes
Serving over 11 million customers across the US and Canada, this digital bank is a top 25 U.S. financial holding company. They provide financial services to a range of industries, from auto finance to corporate lending.
Their ongoing success led to a growing volume of work. Yet their systems were not designed for scale. A non-standardized, fragmented data management function meant employees had to manually handle all indexing and data extraction workflows, making back-office processes slow and complex.
Reconciliation processes were also paper-based and entirely manual. So were the escheatment checks, which had become a highly time-consuming activity given the 240,000 checks conducted annually. Together, this led to significant data quality issues and high operating costs.
They needed a seasoned partner that could transform their data management capabilities and reimagine their decentralized processes into a streamlined, homogenized suite of operations.
The Outcome
Intelligent Automation Removes Repetitive Tasks for Holistic Transformation
Sutherland’s engagement with this client began by defining a robust data strategy. A multi-year transformation roadmap was created – spanning platforms and architecture, data assets and engineering, and organization, change and talent – to drive measurable results.
Next, our digital consulting team performed a maturity assessment. This included examining the client’s existing technology vendors and licenses to redefine and implement an end-to-end optimized process that would improve productivity and throughput.
From there, we designed and deployed a revised quality control framework to simultaneously reduce human error and streamline regulatory compliance. Our Prodigy platform brought together document processing, data entry, and queue management to streamline workflows and modernize key business operations.
By leveraging our hyperautomation platform, Robility®, and implementing intelligent meta-bots, we then unlocked further digital performance for our client by automating previously manual escheatment check processing and reconciliations to save employees’ time and effort.
Finally, we built and implemented a digital ‘Control Tower’ reporting dashboard for our client to help demonstrate value realization on data transformation metrics.
Tapping into our market-leading technology and business process excellence, we brought a new operating model to our client – leveraging automation to boost productivity by 25%. That’s digital performance unlocked and measurable results delivered!
“When a leading financial services provider came to us with completely manual and decentralized processes, we knew the exact solution for them. With a real need for better digitization workflow management and standardized processes, our team was able to offer their end-to-end advisory services and implement automation across existing inefficiencies. Utilizing our Robility™ and Prodigy™ platforms, we were able to provide time savings, improve productivity, and eliminate manual inefficiencies.“
Improvement in Productivity
Reduced Transaction OpEx Through Increased Speed of Reconciliation
Time and Effort Savings in Online Tax Filing
Learn More About Our FinTelligent Solution
Services
Automation, Digital Consulting, Business Operations, Prodigy, Robility®
Industry
Banking and Financial Services
