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RPA & AI for Self-Service Banking Automation

by sol-admin

In this demo, it is said that RPA and artificial intelligence are on the radar of every Fortune500 CEO and board of directors as a means of gaining a tremendous advantage in improved efficiency and increased profitability. To help you become more familiar with what RPA and AI have to offer, the demo takes you through an automated scenario of a new bank account opening.

Let’s say a customer wants to open a new bank account online. After the chatbot verifies the type of account the customer wants it provides him with a link to the relevant form. Once the customer fills and submits the form, it is then handed to the NICE robot to kick off the new account opening process.

The robot first performs a few back-end actions such as running a customer credit assessment to determine the precise credit score of the customer. The robot also performs a know your customer (KYC) verification process. This includes a search in social networks. Using OCR, NICE’s robot analyzes the scanned documents that have been uploaded along with a new account form. It identifies that there is a discrepancy between the customer name as it appears on the form compared to his driver’s license. This exception is sent for human intervention in order to confirm that Stephen Brown and Stephen James Brown are indeed the same person as their social security number is identical. The human input provided teaches the robot how to respond in similar situations in the future by using advanced machine learning algorithms.

The next NICE’s robot uses text analytics and natural language processing as it continues to validate the uploaded documents. It interprets and categorizes key data points from within the free text and uses them in the automated process. Now the robot executes the set of tasks required to set up the new business account interfacing with the bank’s various back-end systems. And if the new customer’s data meets bank policy, the NICE robot sends an email to the customer announcing that the new account is now open.

Finally, the robot reports back to its hub the robotic control room updating that the mission has been accomplished, saving more time and reducing human error still further.