CLM and Robotics
Potential areas for Robotics automation in CLM
- Client data entry from multiple data vendors or KYC utility, can be automated or given to a software robot for entry. If there are any missing fields, it can be referred to a client services person
- This involves taking client data from the CLM system and feeding an external risk scoring system. The KYC risk report can be uploaded in the CLM system.
- Automating basic rules for determining client classification type using software robotics for regulatory norms such as KYC, FATCA, MIFID etc.
- Contributing in credit and legal steps like preparing a credit report and draft legal documents.
- Account-setup/modification process involves client data (sub-account/SSI) being entered in a number of systems. This can be done by a software robot.
- Direct headcount reduction through automating manual processes
- Error free business operations
- Higher process efficiency
- Lower capital or upfront expenditure