• Services
  • Industries

  • About us
  • Careers
  • Contact us
en
en
Global(en) Deutsch(de) Svenska(sv) Español(es)
solution

Process Mining

Reduce the gaps in business processes to achieve operational excellence

Schedule a call
  1. Home
  2. Solutions
  3. Process Mining
Banking and Financial Services Business Consulting Intelligent engineering automation

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 Solutions - Benefits
Key benefits

Our capabilities focus on three key areas, payments processing, card dispute operations, and customer service, where banks experience inefficiencies.

Process Mining will: 

  • Reduce cost per payment by over 30%
  • Improve payment service-level agreement (SLA) compliance by over 90%
  • Automate workflows and improve STP rates to over 70%
  • Improve dispute processing timelines by over 25%
  • Reduce manual effort for dispute operations by over 20%
  • Reduce costs incurred from late processing by over 90%
  • Reduce average handling time (AHT) by over 25%
  • Reduce average wait times by ~60%
  • Reduce customer service operations costs by over 30% 

Key features

Process Mining discovers optimization and automation opportunities by capturing data and identifying process inefficiencies.

A powerful analysis engine

Mine data from multiple process systems and build comprehensive maps of process variations

A process and variant explorer

Deep dive into multiple process steps and variations
 

Business process management

The ability to build target workflows and track conformance with target process state

Automated insights

Find process deviances, inefficiencies, and automation opportunities
 

Action engine

Continuously monitor processes and trigger automated scripts to close execution gaps

AI/ML-based prediction and automation

Using historical data to predict process execution issues and apply automated resolutions

Why Virtusa

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:

Payment processing

applying process mining to inbound and outbound payment processing and payment repairs

Card dispute operations

identifying inefficiencies in debit and credit card dispute operations and process improvement opportunities

Customer service

analyzing the customer journey by applying process mining in customer service operations

success story

A top global bank reduced customer service inquiry resolution days by 46%

With Process Mining, we helped reduce call handling times from 60 minutes to 15 minutes to improve customer experience and gain significant cost savings.

Learn More

Achieve operational excellence and improve automation rates

Speak with a Process Mining expert to learn how.

Contact Us
  1. First Name
  2. Last Name
  3. Job Title
  4. Organization
  5. Email
  6. Phone
  7. Comment or Question
  8. Contact Us
  • Services

    Consulting & DesignConsulting & Design

    • User Experience & Interface Design
    • Business Consulting
    • IT Strategy & Infrastructure
    • Accelerated Solution Design
    • Operational Process Design
    • Org Change Management

    Digital EngineeringDigital Engineering

    • AI & Machine Learning
    • Analytics, Insights, Data
    • Application Platform Engineering
    • Content & Customer Experience
    • Digital Process Automation
    • Enterprise Applications
    • Industrial IoT
    • xLabs: Innovation Hub

    Cloud TransformationCloud Transformation

    • Cloud Native Engineering
    • Cloud Migration Services
    • Cloud Operate
    • Cloud SaaS
    • Cloud Data & Analytics
    • Cloud Security

    Managed ServicesManaged Services

    • Application Support & Management
    • Infrastructure Management Services
    • Intelligent Engineering Automation
    • Intelligent Process Automation
    • Knowledge Process Outsourcing

    Take the Future Fitness Assessment:
    Cloud Adoption

    Has your organization realized the full potential of the cloud?
    Find out in just a few minutes.

    Start here
  • Industries

    IndustriesIndustries

    • Banking & Financial Services
    • Communications
    • Consumer Packaged Goods
    • Healthcare
    • Life Sciences
    • Information Services
    • Insurance
    • Independent Software Vendors
    • Manufacturing
    • Media & Entertainment
    • Retail
    • Transportation & Logistics
    • Travel & Hospitality

    Virtusa named leader in Pega Services

    PEAK Matrix® Assessment 2021 by Everest Group

    Read report
  • About us

    Who we areWho we are

    • About Virtusa
    • Board of Directors
    • Leadership
    • Corporate citizenship
    • Awards
    • Investor information

    Virtusa Cares

    Our response to the
    COVID-19 pandemic

    Learn more

    Our ApproachOur Approach

    • Digital Transformation Studio
    • Transformation Accelerators

    Our PartnershipsOur Partnerships

    • Adobe
    • AWS
    • Azure
    • Google
    • Pega
    • Salesforce
    • View all partners

    NewsroomNewsroom

    • Press releases
    • Events
    • Media coverage
    • Video hub

    Our Perspectives

    • Articles
    • Tech Talks
    • White papers
    • Webinars
    • More perspectives
    Offices locationsOffices locations

    Offices locations Offices locations

    • AMERICAS
    • EMEA
    • APAC
  • Careers
  • Contact us
  • Popular Searches

      Useful links

      • Contact us
      • Careers
      • Investors
      • News & Events

      Success stories

      More than 200 companies turn to Virtusa to drive their businesses forward in the age of digital transformation

      Learn more
    Follow Us:

    ©2022 Virtusa Corp. All rights reserved.

    • Privacy Policy
    • Cookies Policy
    • Terms of Use
    • Compliance
    • Glossary
    Close modal