Increasing Productivity and Reducing Risk with Intelligent Automation at MMC
Technology Category
- Analytics & Modeling - Robotic Process Automation (RPA)
- Application Infrastructure & Middleware - Event-Driven Application
Applicable Industries
- Education
- Life Sciences
Use Cases
- Manufacturing System Automation
- Virtual Training
Services
- System Integration
- Training
About The Customer
MMC is a financial services company based in New Zealand. They handle the onboarding of thousands of investment clients every month. Their previous onboarding process was primarily manual, involving handwritten applications, which was inefficient and introduced a significant amount of risk. The company needed a solution that would not only streamline the onboarding process but also reduce risk and waste, and improve overall auditability. The company integrates with a number of external systems to retrieve data, which was causing double handling of material and introducing risk and training issues.
The Challenge
MMC, a financial services company based in New Zealand, was facing significant challenges with its client onboarding process. The process was primarily manual, involving handwritten applications, which was causing major bottlenecks for the thousands of clients they onboarded every month. The manual process made it difficult to track issues, introduced a significant amount of risk, and resulted in double handling of material from a user’s perspective. This was due to the need to retrieve data from external systems, which also introduced risk and training issues due to the number of systems MMC had to integrate with. MMC’s CIO, Craig Richardson, recognized the need for a change to streamline the onboarding process, reduce risk and waste, and improve overall auditability.
The Solution
MMC implemented a fully automated onboarding solution using Nintex K2 Five. This solution combined a custom user interface (UI) and a task-oriented process to accelerate client onboarding. The process was built with K2 Software and a Blue Prism-based bot was used to automate the task of extracting data from Salesforce and integrating it into a workflow process. Additionally, ABBYY’s Content IQ solution was used to provide document scraping and analysis capabilities. This solution, initially seen as a proof of concept, quickly became a critical piece of infrastructure that enabled scalability. The results were immediate, with a significant increase in the number of applications the team could onboard, sometimes even clearing the applicant queue way ahead of schedule.
Operational Impact
Quantitative Benefit
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