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CASE STUDY

AI and RPA team up to make more accurate verification of transactions a breeze

Hyperautomation is a new phenomenon that is currently taking the business world by storm. Expleo looks at hyperautomation now and into the future in this series of case studies.

The future of banking must be intuitive, agile, and secure. Today’s hyper-competitive banking landscape is the driving force for incumbents to embrace a culture of agility and deliver intuitive, elite-grade customer service. There is a pronounced need for system modernisation and automation to secure transactions, reduce costs and adapt to rapidly changing customer expectations. 

Expleo is working with large banks deploying automation solutions that are creating efficiencies, increasing compliance, and changing how employees are working and how customers are interacting with the bank. The technologies in use vary, with RPA being at the core. The addition of forms, chatbots, Optical Character Recognition (OCR), machine learning and more are allowing for the increase in possibilities.

The Expleo business agility, process optimisation and process automation teams are working with our clients to ensure that process, people, and technology factors are being considered as operating models continue to change.

The Challenge

Our client, one of the largest banks in South-East Asia, had several challenges they needed help with: 

  • The consolidation and identification of suspicious transaction records (STR) from the branch data. 
  • Filing STRs in the system and notifying the risk team had to be performed manually.  
  • Investigators were spending large amounts of time on creating manual STR memos and AML reports. 

Solutions

An automated robotic solution was designed which involved the use of AI and machine learning. It performed the consolidation of the STRs reported from various bank branches. It then generated batch AML reports and memos containing details of the STRs and e-mailed these to the AML Committee. AML Pattern identification was built based on predictive Analysis, using off the shelf ML algorithms. New Pattern suggestions based on outliers were found using visualisation tools, the solution covered data entry from heterogeneous sources. It also generated the AML reports for submission to the AML council. 

Benefits

  • 93% accuracy in identifying suspicious transactions  
  • 24/7 real time transaction processing  
  • Automates analysis: pattern analysis and identification of new patterns performed  
  • Interconnectivity between multiple systems and data sets without human involvement 

Looking to the future

Hyperautomation is a new concept that many organisations are at the early stages of implementing. Expleo is working with our clients to focus on business process optimisation, expanding the automation footprint they have with current technology platforms and running continuous innovation sessions to bring in new technology as it is required.   

Expleo is working in partnership with our BFS clients to work across their organisations and automate everything we can. Below, you can see some of our ongoing projects: 

  • Enabling better customer engagement through increased self-service options utilising their platform of choice 
  •  Increasing customer loyalty with more personalisation of products and offers by using data and insights 
  • Using a combination of technologies, including AI, to reduce exposure to risk  

Hyperautomation with Expleo

Hyperautomation connects everything with ease, making work feel like a breeze.

Hyper for business. Calm for you.
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