Success Stories: Ordering of foreign currencies • synpulse
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Synpulse Success Stories:

Ordering of foreign currencies

 

Automation Challenge

The bank provides its clients with the option of having foreign and domestic currencies delivered to their home or any other address.

Orders are initially requested via the contact center or relationship manager and keyed into a free-text “pre-populated” form in the Avaloq core banking system. An earlier input channel was via the e-Banking application. Banking operations then pick up the orders. Execution of these orders was delegated to a team in India.

Other initiatives were unable to succeed in automating these orders since the third-party foreign currency supplier did not provide any form of API but instead a website for employees in which to place an order.

Solution

A robot was developed to monitor the orders for new requests. Once the requests arrive in the order book queue, the robot starts processing them one by one and obtains the required information from various sub-screens in Avaloq.

The robot then starts keying the order into the third-party supplier’s website. Before final order confirmation, the website is informed about the total amount, which is then checked in the background against the client’s current account. The order is then submitted, and the content of the order confirmation page stored in the original Avaloq work order.

Benefits

The benefits of automating this process are the significant reduction in order lead time, resulting in capacity savings and extension of the cut-off time for next-day delivery orders by 30 minutes. Employees can now focus on more value-adding tasks and customer service for other tasks requiring human interactions.

 

Video – Roby the Bot

This video describes the automated process for ordering foreign currencies. Currently, ordering foreign currency is a highly repetitive process that requires up to three process experts. Roby the Bot simplifies this process so that the cut-off time is postponed by 30 minutes and employees can focus on more complex, value-adding activities.

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