Challenge: Increased volume of loan processing at banks
- Backlogs arise when large amounts of loan applications are submitted during COVID-19 period as business face financial challenges.
- Longer processing time, as many banks are forced to reduce on-site staff who can access come back to office to use the bank’s loan approval system.
- Getting in-house IT staff to do programming-based integration is not easing the problem as IT department is overloaded.
- There is also increased workload in chasing for repayments of loans as many companies are delaying payments.
- Gleematic cognitive automation software can be installed in bank’s office computers to help the on-site staff do work 3X to 5X faster.
- Set-up time for Gleematic software-robots can be very quick (in a week or less) for simple processes. IT staff only need to support and no need to do coding.
- Gleematic can access core-banking systems or loan-systems. For example, we have worked with AS400, Silverlake, etc.
- Intelligent document-extraction features in Gleematic can assist humans in reviewing supporting documents submitted by applicants (e.g. pay-slips, bank statements) and pull out information.
- Artificial Intelligence can predict approval or risk of late-payment based on historical patterns.
- The software robots can also send reminders for repayments of loans.
- Reduces stress level of staff who have to handle large volumes of work.
Let Gleematic robot help you your bank manage overloads during the Covid-19 Pandemic.