Mortgage Bank case study

80% of contracts are processed automatically 3x faster.

“With Astro RPA, contract processing is faster and more accurate. Our operators receive the reviewed packages by email rather than running manual checks.”

Head of Automation COE at the Bank.

About the company

A large Eastern European bank ($10B in assets) operates in highly competitive construction investments and mortgage markets and strives for continuous improvement of its operational efficiency. A recent review of the bank’s business processes revealed that while many simple processes could be efficiently automated using existing tools, some more complex processes require a different approach.

Business problem

One of the critical yet lengthy processes locking significant resources was the contract management process. It involved multiple departments and required manual review. Each contract depending on its nature and the region was also tracked in several internal bank systems. These complexities hindered the bank’s ability to scale and manage more of those contracts.

Solution

Bank’s IT and business unit managers agreed to try the RPA solution, as it provides flexibility to automate individual steps of the process, interact with all existing systems and continuously improve its overall performance.

After a diligent review of a number of RPA platforms across 100+ parameters, the bank has chosen Astro RPA. The decisive factors were the powerful remote desktop automation capabilities, flexible IDP integration, and high RPA due to the reasonable total cost of ownership.

Results

Astro RPA implementation helped reduce contract processing time 3x while maintaining 100% accuracy. 80% of contracts are processed fully automatically, and only 20% still require some human intervention. With implementing additional AI desition models, this should be reduced to 5%.

The next steps of the bank’s automation journey include building Astro bots to monitor contract execution, assembling all associated documents, tracking and reporting project status. Astro bots also help to manage incoming corporate emails and collect, sort, and distribute attachments, accelerating information flow across the bank.