Home How RPA Helped KeyBank Complete Nine Years’ Worth Of Work 234x Faster

How RPA Helped KeyBank Complete Nine Years’ Worth Of Work 234x Faster

by sol-admin

KeyBank, the primary subsidiary of KeyCorp, is a regional bank headquartered in Cleveland and is the only major bank based in Cleveland. KeyCorp is one of the nation’s largest financial services companies. Key Companies provide investment management, retail, and commercial banking, consumer finance, and investment banking products to individuals and companies throughout the United States and, for certain businesses, internationally.

KeyBank’s RPA journey started in 2017 when 45 people across operations and tech and a few other roles were trained to build RPA solutions on the Automation Anywhere platform. By the end of 2018, the bank had 28 processes in production. As they continued on those processes the responsible staff wanted to accelerate the development and really make things faster, so they centralized the team and chose 13 people, the best of the best, to do this full-time which became their careers and by the end of 2019, KeyBank already had 68 business processes in production. Then the team realized they needed to optimize the process, engage in further training to solidify the ideation across the enterprise, and at the end of 2020, the responsible team members find themselves with 133 processes in production.

When the COVID-19 pandemic created challenges for teams to work on-site, KeyBank needed a way to respond to increased call volumes and amounts of work with no time to add to staff, the company turned to RPA.

One of the biggest success stories was in loan origination where nine bots were created to manage the bank’s loan origination process. The bank did not have the ability to recruit to ideal staffing levels in such a short time, though with automation, it was able to complete nine years’ worth of work in just two weeks.

Watch this video to find more details about extraordinary stories of scaling RPA and the impact of automation during COVID-19 told by Michael Reynolds, Senior Manager of Business Technology at KeyBank.