Explore How RPA can help your Non-Bank Financial Company

Explore How RPA can help your Non-Bank Financial Company

The finance industry, including non-bank financial companies, has a lot of repetitive tasks that can be automatized effectively. As a result, it becomes a fertile field that gets the most out of RPA (Robotic Process Automation).

According to McKinsey, 75 to 80 percent of transactional operations (e.g., general accounting operations, payments processing) can be automated in the finance industry. 

As one of the most data-driven industries, these companies offering services for loans, insurance, and investment collect and process a massive amount of data daily. Eventually, as ideal RPA candidates, they benefit from the opportunities offered by technology to accelerate, facilitate their workflows, and make the results faultless. 

How can NBFCs use RPA?

  • Automate the data updates,
  • Get automated reports,
  • Simplify and accelerate verification processes,
  • Strengthen the security by knowing your customer,
  • Provide faster, easier, faultless onboarding,
  • Improve loan processing and more.

How can NBFCs benefit from RPA?

NBFCs can implement RPA for various assignments as they have many rule-based and repetitive tasks. Automation will ease the processes of 

  • targeting the customer segments, 
  • acquiring new customers, 
  • maintaining ongoing operations,
  • risk evaluation, 
  • price optimization, 
  • onboarding and more. 

Improve your customer service

All industries put customers at the center; however, the finance industry has to be more careful about customer service. That’s because the finance customers mention their low satisfaction with the services. They want faster and more seamless transactions. 

It’s a great chance to make a difference in the industry. These companies can improve customer satisfaction by accelerating the processes with RPA.

Enhance onboarding process

The onboarding process includes many routine transactions. RPA can help you improve the customer experience by shortening the waiting period and eliminating human error. 

When the standard data acquiring process is automated, you need less manual work done by employees and customers. Therefore, your employees can focus on more personal communication when needed. This way, you can make your customers feel special, which helps you gain loyal customers by building relationships. 

Collect and analyze data faster

NBFCs need to work on data continuously for various tasks such as risk evaluation and price optimization. RPA assists these processes by providing precise data in a shorter time. As a result, when your teams access detailed data without effort and losing time, they can deliver results faster and accurately.

Customers demand getting a reply to their requests as soon as possible, which is easy to satisfy with the intervention of RPA.

Boost the employee efficiency

Automation of repetitive, rule-based yet critical manual processes with RPA contributes to your business goals by liberating your employees for more creative and strategic thinking tasks.

Repetitive tasks de-energize your employees, lowering employee satisfaction and motivation to a great extent. Conversely, when your employees are happy and motivated, they can be more productive.

Benefits of RPA for NBFCs

  • Higher quality data by eliminating human error 
  • Faster service, higher productivity
  • Quick response to demands
  • Cost savings on regular tasks
  • Swift adaptation to new conditions
  • Business agility and efficiency
  • Digital transformation

You can contact us to explore how RPA can help your Non-Bank Financial Company, and learn more about growing your business with RPA. Schedule a demo today.