Reduce the gaps in business processes to achieve operational excellence
Banks and financial institutions’ business processes are manual by nature. Without automation in place, the processes have execution gaps which result in inefficiencies and cause high overall operational costs.
What if banks could gain visibility into their inefficiencies to improve straight-through processing (STP), understand the impact of process changes, and reduce operational/compliance costs?
With Process Mining, banks can achieve all of the above and enhance their people-driven business model by increasing automation and establishing standardized processes. We take the risk out of banks achieving operational efficiency, backed by Celonis’s process mining expertise, customized by Virtusa’s domain-focused solutions and capabilities.
Process Mining will:
Process Mining discovers optimization and automation opportunities by capturing data and identifying process inefficiencies.
Mine data from multiple process systems and build comprehensive maps of process variations
Deep dive into multiple process steps and variations
The ability to build target workflows and track conformance with target process state
Find process deviances, inefficiencies, and automation opportunities
Continuously monitor processes and trigger automated scripts to close execution gaps
Using historical data to predict process execution issues and apply automated resolutions
We’ve built custom analysis components, system connectors to key applications, and AI/ML plug-ins for multiple banking procedures. Our accelerators include comprehensive solution packages for the following processes:
applying process mining to inbound and outbound payment processing and payment repairs
identifying inefficiencies in debit and credit card dispute operations and process improvement opportunities
analyzing the customer journey by applying process mining in customer service operations
With Process Mining, we helped reduce call handling times from 60 minutes to 15 minutes to improve customer experience and gain significant cost savings.
Speak with a Process Mining expert to learn how.