Nintex > Case Studies > Regional Bank Leverages Nintex RPA for Growth and Efficiency

Regional Bank Leverages Nintex RPA for Growth and Efficiency

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Technology Category
  • Analytics & Modeling - Robotic Process Automation (RPA)
  • Functional Applications - Enterprise Resource Planning Systems (ERP)
Applicable Industries
  • Finance & Insurance
  • Paper & Pulp
Applicable Functions
  • Maintenance
Use Cases
  • Leasing Finance Automation
  • Material Handling Automation
Services
  • Cloud Planning, Design & Implementation Services
  • System Integration
About The Customer
The customer in this case study is a regional US bank in the financial services industry. The bank had an ambitious plan to double its assets to $10 billion over five years. To support this growth, the bank wanted to boost productivity and customer satisfaction through process automation technology. The bank offers a full range of commercial and consumer-facing lines of business. The bank had a core workflow tool but it lacked automation, making it essentially a checklist. The bank needed a more comprehensive solution that could automate key processes such as wire transfers and Paycheck Protection Program (PPP) loans.
The Challenge
A regional US bank in the financial services industry was faced with the challenge of supporting its aggressive growth targets. The bank aimed to double its assets to $10 billion over five years and sought to use process automation technology to boost productivity and customer satisfaction. However, the bank's existing workflow tool lacked automation capabilities, essentially functioning as a checklist. The bank needed a more comprehensive solution that could automate key processes such as wire transfers and Paycheck Protection Program (PPP) loans. The bank's enterprise automation team began researching options to fuel and support the bank's growth successfully.
The Solution
The bank decided to use a combination of Nintex RPA, Nintex Workflow Cloud, Nintex Forms, and more to automate key processes. Nintex offered a comprehensive suite of tools for workflow automation, digital forms, and mobile apps, in addition to the RPA and document generation capabilities the bank was already leveraging. Nintex also offered integration with third-party software, including Dropbox and Salesforce, that the company already used, cost-effective licensing, and ease of use. The bank standardized on Nintex Workflow Cloud and the rest of the Nintex suite for all of its process automation needs. The first business process to be automated was the bank's outgoing wire transfer process. The bank's IT team transformed the wire transfer process by replacing the paper form with a dynamic Nintex Form that captures details of the transfer. Nintex RPA bots verify the customer's identity and available bank balance, pull current exchange rates, and automatically calculate amounts in the specified currency.
Operational Impact
  • The implementation of Nintex RPA and workflow automation has brought significant operational benefits to the bank. The new, Nintex-based wire transfer process has eliminated the need to create tickets to track the process, minimized the number of times the teller touches the ticket or rekeys data, and reduced errors and the time needed to correct them. This has resulted in a significant boost in customer satisfaction as wire transfer orders are almost inevitably correct the first time. The entire process now takes just 50% of the time previously required, freeing tellers to perform other tasks. The bank has also been able to transform business processes for Paycheck Protection Program loan applications and loan forgiveness, credit applications, system maintenance, address changes, application status checks, account creation and closing, credit card ordering, mortgage sales, and more.
Quantitative Benefit
  • Cuts time for key process in half
  • Achieves 241 efficiencies saving $265,000
  • Wire transfer orders are now ready for customers to sign in about a minute, down from several minutes previously

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