400% efficiency improvement in the Trade Finance division of a leading public sector bank
BFS
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A leading public sector bank
Challenges
The bank was facing constraints in closing the expired letter of credits and bank guarantees in the core banking system within the stipulated time. The process was performed manually after office hours and was highly error prone.
Solution
Datamatics implemented Robotic Process Automation solution powered by TruBot, which validated the details between an Excel dump and the core banking system. Subsequently, the bot followed a pre-programmed process to close the LG/BG in the core banking system across multiple touch points.
