How to automate mobile-deposit account setup for your credit union with RPA

The Lab Consulting

Credit Union execs: Now you can save 400 to 600 hours and allocate human talent to higher-value activities 

For every member of your credit union that wants the convenience of depositing checks via their mobile device, there’s a surprising amount of back-office work that’s required from your credit union’s staff.  

This is a common issue among credit unions. It’s because the core system doesn’t talk to other systems that your credit union relies on… often even other systems and applications from the same provider as the core itself!  

For this story, that’s not the case. The disconnect here is between the core and the remote-deposit-capture (RDC) tool. When one of your members enrolls in mobile-deposit, you need to update both systems, because they won’t do it on their own.  

For your valued staffers, this isn’t the most productive—or fulfilling—use of their time. That’s a turnover risk.  

Fortunately, you can now automate the setup of RDC capability for your members, thanks to robotic process automation or RPA. The Lab offers bots that can do this for you and your team, regardless of the core platform and ancillary systems you use.  

In this article, we’d like to walk you through a bot we recently built for another credit union. We’ve even created a little two-minute video of it, which you can view right here:

The whole reason for this procedure is to avoid risk. Modern remote-deposit-capture risk-mitigation tools can let you, for example approve or reject scanned checks in real time, before they’re even deposited into an account. There are customizable fraud-management rules, reporting… lots of good stuff.  

That is, after it’s all been set up.  

For the credit union shown in the video, they’re using CheckReview from Cachet Financial Solutions. But remember: Bots from The Lab can work with any remote-deposit-capture tool.  

The first thing this bot does is to log in to CheckReview, with its own user name and password, just like a person. It then clicks the name of the account holder, and extracts the account number from the new user at the top of the screen.  

Next, the bot logs into the core. Again, bots from The Lab can work with any core. Your credit union might be using a product from FIS, Fiserv, or Jack Henry. It doesn’t matter; bots from The Lab are core-agnostic.  

In this example, the credit union is using Jack Henry Silverlake Xperience, so that’s what the bot logs into.  

By the way, the mere act of logging in, or getting to the “Account Lookup” screen can take what feels like forever. (In the example video, we sped up over a minute’s worth of footage for that screen to load.) For a human worker, this is boring and and annoying. For the bot, it’s just another day at the office; it’s programmed to wait. 

One in the core, the bot switches its screen to “List View” to facilitate its work, showing all the fields available for the account it selected, using the account number it had gotten from CheckReview.  

It then selects all the fields it needs from that record. In this instance, that includes:  

  • Email  
  • Address 
  • Tax ID  
  • Date of birth  

Armed with that information, the bot switches back to CheckReview. Once inside this RDC platform, it updates all the fields with information it had pulled from the core. It types faster than any person ever could… and never makes typos!  

The bot then switches back to the core, where it updates all of the member-verification data for that account.  

Once it’s done, both systems match, and the account is ready to accept mobile deposits. The bot can even be programmed, easily, to email the results of its work to appropriate members of the business team. 

At a typical credit union, it takes a person about hundreds of hours each month to process these mobile-deposit setups. With the bot “in the loop,” it’s now 100-percent automated, and error-free! 

This frees up your credit union’s staffers for more valuable tasks, improving job satisfaction while hedging against employee turnover.  

And The Lab can configure and install a bot like this at your credit union in just weeks. It pays for itself in short order.

Credit Union executives are turning to The Lab to accelerate automation/AI readiness, lay the groundwork for strategic end-to-end process/product innovation, and implement Robotic Process Automation (RPA) “bots” to automate dozens of processes. With as few as three RPA bots from The Lab, you, too, can begin implementing on your company-wide strategic innovation roadmap—and start seeing hard-dollar benefits within weeks.

The best way to appreciate the speed and game-changing power of the automation suites installed by The Lab is to see it for yourself. Schedule a free, no-obligation 30-minute screen-sharing demo with The Lab, and you’ll see RPA bots in action. You’ll learn how we do all this from our U.S. offices in Houston, with nothing outsourced or offshored, and get all your questions answered by our friendly experts. Hedge your company against employee turnover, eliminate errors, and put your organization on a roadmap to accelerate your automation and AI initiatives.

Simply call (201) 526-1200 or email to book your demo today!

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