THE BANKING BACK OFFICE FACTORIES™

 

More available factories:

 

Lending Fulfillment Factory – Shows how to “industrialize” critical loan fulfillment tasks—with your current technology—to:

Close more loans – faster & with fewer post-close corrections

  • Upgrade servicing & customer experience
  • Boost operating leverage & profitability

Lending Sales Factory – Explains how to rapidly unlock profitable loan customer acquisition growth for your bank:

  • Cross-sell existing customers with predictive profiles
  • Identify new commercial lending prospects & automate marketing outreach
  • Reduce “DOA” loan proposals & margin “leakage”

Factory overview – Gives a “tour” of the typical bank “factories” and gives practical examples how they can work for your business

 

Your RPA-Enabled (& Standardized) Lending Sales “Factory” Begins Here!

 

Core platforms holding you back? Then you need to read this:

We’ve outlined a time-tested strategy to reduce your reliance on core technology providers—and unlock massive gains in:

  • Operating leverage
  • Employee productivity 
  • Processing speed
  • Work accuracy
  • Customer experience (CX)

Your RPA-Enabled (& Standardized) Back Office “Factory” Begins Here

The back office is the central nervous system of your bank—and your customers’ experience. Think about all of those mundane, repetitive, but vital, tasks required to onboard, service and maintain customers.

Given the repeatability, the back office should be the most standardized operation in the bank. Highly automated. Rigorously measured. Humans involved only to handle complex decisions, oversight, or high-risk tasks. The typical back office may be “standardized”—but not like this.

That’s because a large percentage of work remains under-standardized. Definitions are fuzzy, instructions are undocumented, and employees perform identical work differently—leading to avoidable errors, delays, and bottlenecks that threaten to bring operations to a snail’s pace.

  • “Assembly lines” are in fact clunky, quasi-automated business processes, requiring legions of humans to correct errors and bridge gaps between disparate systems.
  • Core platforms are aging, inflexible, and disproportionately costly—with no price-increase relief in sight from their highly-concentrated owners.
  • Non-core applications often take years to deploy—but only moments to disappoint on their promises of meaningful, valuable automation.
  • Looking for simple, intuitive visualization of information to empower revenue-boosting decision-making? Sorry, you’re on your own—with a mountain of unreconciled spreadsheets.

The fact that all of these problems are intertwined makes it harder to recognize the painfully simple, and single, overlooked cause: A decided lack of time-honored standardization, pervading every nook and cranny of knowledge, or office, work—even in the most “standardized” part of your bank: the back office.

You have to standardize before you can digitize

Taming this quiet chaos seems like an insurmountable challenge. It’s not. Every day, The Lab routinely helps banks and credit unions quickly and cost-effectively overcome these “insurmountable” challenges. 

As the industry’s sole standardization specialist, we transform each operation in your enterprise into a high-performance Knowledge Work Factory, using an unmatched combination of:

The Banking Back Office Factories Includes Several, Common RPA Factories

Back Office Factory Strategy: Design for Machinability

A Repeatable Approach for Building Back Office Factories—One Piece at a Time

Ready to Build Your Back Office Factory?

Overcoming the mess of legacy core and non-core platforms in the back office seems like an insurmountable challenge. It’s not.

The strategy described on these pages represents a major competitive opportunity for executives willing to apply these proven “industrialization” concepts.

Contact The Lab today for a no-obligation 30-minute screen sharing demo on our patented “Knowledge Work Factory” approach.

You’ll see real banking bots in action, blazing past at up to 45x human speed, error-free. Learn how most bots pay for themselves in just one year. And get all your questions answered by our friendly team. 

Simply call (201) 526-1200 or email info@thelabconsulting.com to book your demo today!

 

 

 

 

 

Robotic Process Automation for your business, from start to finish.

Contact us now to speed up your RPA analysis, use case development, and implementation.