Here is a brief story about how the excess queue procedure was automated at the Co-operative Bank.
The Co-operative Bank is a retail and commercial bank in the United Kingdom, with its headquarters in Manchester. The Co-operative Bank is the only UK high street bank with a customer-led Ethical Policy which is now incorporated into the Bank’s Articles of Association.
The excess queue procedure at the Co-operative Bank is carried out daily to accept, reject, and return direct debits, checks, and standing orders as a result of the customer having insufficient funds to meet payments. A nine-person team in the bank would have the daily responsibility of manually reviewing approximately 2,500 higher-risk accounts. Due to the manual and time-consuming process of reviewing each account, it was determined that the excess queue procedure should be automated.
“We are delighted that The Co-operative Bank is realizing such demonstrable value from implementing Blue Prism software. The reduction in processing costs and the multiple benefits being realized are substantial and we look forward to continuing to work with the team on new challenges.”
ALASTAIR BATHGATE, CEO, Blue Prism
The Co-operative Financial Services completed its automation project using Blue Prism’s connected-RPA platform. The automation of the entire procedure means that the bank now has 20 Digital Workers completing the workloads by 11 a.m. each day instead of a team of employees working to meet a 3 p.m. daily processing deadline.
• Redeployment of employees into proactive customer account management roles
• 80% of the process now automated
• Increased inbound customer service call levels
• Significant improvement of consistencies around customer account management