Credit union execs: “Park a bot” on all of the document processing needed to close loans Automation for closing residential loans is defined as using the latest digital automation technology (such as robotic process automation or RPA, or artificial intelligence or AI) to speed throughput of document processing, while reducing human-induced errors and improving member …
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Save 1,000 to 4,000 hours of manual labor, year after year, with RPA banking bots Loans require supporting paperwork from the borrower; it’s a fact of life in banking. And for every form that needs to be attached to a loan—and then updated, and then checked—there are people in your bank’s Loan Operations team who …
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Project Background This company operates a chain of more than 500 luxury department stores and off-price designer outlets, as well as a direct-to-consumer ecommerce division. The “new” CFO was a longtime employee recently promoted from within—after a brief stint in IT as part of a management rotational program. From this IT assignment, he learned that …
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Most workers in the business world believe that reconciliations are a routine task that only accountants deal with as part of their jobs. However, in the credit union industry, financial and operational reconciliations are a way of life for operations staff throughout the organization. Routine reconciliation tasks are often perceived as required drudgery and the …
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