A prominent financial institution in Malaysia embarked on integrating Robotic Process Automation (RPA) to overcome operational inefficiencies and stay competitive in the dynamic financial sector.
CUSTOMER
Kenanga Investment Bank – an award-winning leading independent investment bank.
REGION
Malaysia
INDUSTRY
Financial Services
FUNCTION
Operations
APPLICATION
RPA
Company Overview
A leading financial institution in Malaysia, this client offers a diverse range of services including equity broking, investment banking, and wealth management. Committed to excellence and innovation, the institution embarked on integrating Robotic Process Automation (RPA) to maintain its competitive edge in the dynamic financial sector.
The Challenges Faced
Our customer faced several challenges that impeded its operational efficiency:
- Manual Processes : Our customer grappled with the burden of manual processes that were not only resource-intensive but also prone to errors. These labor-intensive tasks led to inefficiencies, bottlenecks, and operational delays, hindering the institution’s ability to deliver services promptly and accurately.
- Operational Costs : High operational costs loomed as a persistent challenge due to the reliance on manual processes. The institution was incurring significant expenses in labor and resource allocation, impacting its overall cost-effectiveness.
- Competitive Landscape : Staying competitive demanded not only operational efficiency but also a robust digital infrastructure to deliver enhanced customer experiences and maintain its market position.
Solution Proposed
In collaboration with TeBS, the institution initiated a comprehensive RPA strategy beginning, which included:
- Process Identification and Analysis: Over 70+ processes were identified as candidates for automation through detailed ROI analysis and workshops.
- RPA Center of Excellence (CoE): A structured CoE was established to oversee the RPA strategy, standardizing practices, and governance.
- Phased Implementation: Starting with a few processes, the initiative expanded to include more processes over the years, supported by a scalable RPA infrastructure.
Benefit
The RPA integration led to transformative outcomes for the institution:
- Operational Efficiency: Automation of critical processes reduced manual efforts significantly, streamlining operations and reducing costs.
- Enhanced Customer Service: Quicker and more accurate service delivery improved overall customer satisfaction.
- Competitive Advantage: Strengthened market position through enhanced digital capabilities and operational efficiency.
- Digital Transformation: Establishment of a Digital NeXT ecosystem as part of a broader strategy to integrate technology-driven innovations, ensuring agility and proficiency in a rapidly evolving industry.
This RPA initiative not only optimized existing processes but also equipped the financial institution with the tools necessary for future growth and success in the digital era.
