End-to-end automation is key to providing the self-service options that so many customers want. Consider how opening a new bank account online can be fully automated with the help of RPA and AI or what we call Intelligence Process Automation, resulting in satisfied customers and money-saving efficiencies for the bank.
Our customer wants to open a new bank account online. The chatbot verifies the type of account the customer wants (a business account), and provides a link to the relevant form. The filled-out form is submitted, data extraction commences and is handed off to another robot who kicks off the process to open a new account. The robot does back-end tasks such as checking the customer credit score and running a “know your customer” verification process on Google and social networks.
Next, a smart OCR robot analyzes the scanned documents the customer uploaded along with the new account form. It identifies a discrepancy in the customer name as it appears on the form and on her driver’s license. This exception is sent for human adjudication. The agent confirms that Helen Green and Helen Ann Green are indeed the same person, because their Social Security Number is identical. Based on human input, the robot's machine-learning model learns how to respond to similar situations in the future.
The robot continues to validate the uploaded documents using text analytics and natural language processing to interpret and categorize key data points from within the free text.
Once all data is in order, the robot executes the set of tasks required to set up the new business account, interfacing with the bank’s various back end systems. If the customer’s data meets bank requirements, the robot automatically sends an email to the customer with a warm welcome message, account information, and access credentials.
Finally, the robot reports back to the robotic control room, mission accomplished.