Finding the Robotic Process Automation Solution That’s Right for Your Credit Union
Focus on more important tasks by training Robotic Process Automation (RPA) software bots to perform the tedious, repetitive and manual workflows.
Robotic process automation can improve the efficiency of your processes, further embed digitization into your organization and enable employees to focus on higher value work. According to a Gartner CIO study conducted in 2021, the RPA segment continues its rapid growth trajectory, growing over 20% per year. From quickly changing legacy processes to helping you manage processes remotely, RPA can securely assist your credit union 24/7 from anywhere.
We have deepened our relationship with our long-standing partners, Fiserv and Microsoft, to provide the Canadian credit union system with two cloud-based RPA solutions. Keep on reading to find out which RPA offering is best suited to your credit union.
Fiserv RPA Solution
Robotic Process Automation from Fiserv is a strong enabler for delivering seamless experiences for customers, gaining bottom-line efficiencies and establishing a smoother path for regulation and compliance. With its ability to perform routine intersystem tasks quickly and accurately, RPA offers a cost-effective way to increase your organization’s bandwidth.
Fiserv’s solution incorporates RPA technology to deliver business operational excellence and resilience to Canadian credit unions. From labour capacity creation and improved member experience to new products and services, RPA can optimize your digital transformation. A few potential RPA use cases for credit unions include loan origination automation, mortgage loan tracking and back office processing, credit card billing management, handling member service inquiries and requests and employee onboarding.
Fiserv’s RPA solution is powered by Blue Prism and includes enterprise-wide automation and pre-built bots that DNA clients can leverage, including:
- Core systems
- Integrate manual processes with the account processing solutions from Fiserv or a third party
- Cards, loans and deposits
- Free up staff by assisting in loan onboarding, payoff quotes or create cases for block card requests
- Fraud and risk
- Speed up fraud and due diligence process reporting, manual data capture using OCR and AML techniques
- Third party software
- Automate tasks that involve logging into third-party solutions
- Maintenance and administration
- Member services, customer updates and employee tasks
- HR and IT
- Streamline everything from automating employee email notifications, onboarding processes, and scanning documents for verification
Microsoft RPA Solution
The Microsoft Power Platform is a low-code platform with smaller fragment automations that span Office 365, Azure, Dynamics 365 and standalone applications. The solution includes automation at scale, seamless and secure integration, accelerated productivity and intelligent automation.
The platform allows for innovation anywhere and unlocks value everywhere by utilizing the following apps:
- Power BI (Business analytics)
- Power Apps (Application development)
- Power Automate (Process automation)
- Power Virtual Agents (Intelligent virtual agents)
In 2020, Microsoft acquired Softomotive to expand their Microsoft Power Automate capabilities, through its web and UI automation, interaction with legacy systems and terminals, Java applications as well as Citrix Automation. The combination of these two products addresses many needs in the market, driving the RPA experience to a completely different level with Power Automate Desktop.
The new Power Automate experience is a low-code/no-code, drag and drop approach with recorders on desktop and web. The platform also includes:
- Advanced debugging features
- Reusability of controls, images and functions
- User and process collaboration through message boxes
- Advanced error handling features
- Attended and unattended execution mode
- Concurrent process execution
Power Automate Desktop includes almost 400 actions covering all users’ needs, including web and desktop applications, cloud automation, databases, files, scripting, email, encryption and text manipulation.
RPA Introduction and Loan Approval Demo
Microsoft RPA implementations will be executed by trusted partner, Fidelity Factory. Fidelity Factory has a strong background in Business Process Automation since 2000, and has been delivering the Microsoft Power Platform since 2017. Learn more about what Co-Founder of Fidelity Factory, Sean Panter has to say about building a strategy for your automation initiative here.
Performing the actions of a human, Robotic Process Automation can interact with multiple systems and automate processes of different complexity levels. To learn more about our two RPA offerings, talk to your Celero Account Executive or contact us.
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Celero is a leading provider of digital technology and integration solutions to credit unions and financial institutions across Canada. Clients trust Celero’s proven track record delivering innovative banking technologies, digital and payment solutions, cloud computing, outsourcing, IT and advisory services.
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