Assessment First. Execution Second.
One of the largest Texas banks understands the value of IT and operational process assessments prior to execution. Thorough assessments conducted by individuals with deep technical and market-specific experience can result in a clear, detailed and relatively “surprise free” execution roadmap. IT assessments should go beyond simply understanding and recommending technical enhancements and include business needs and goals.
Recently, the bank wanted to look into Robotic Process Automation (RPA) in regard to their credit dispute process. The goal was to identify, through an assessment, what processes could be automated and identify the best technology to employ toward that automation. Based upon an assessment, provided by Y&L Banking Specialists, the recommendation was to decouple from their SharePoint application and create a workflow application in .Net.
The current process requires significant manual intervention to resolve credit card disputes. Regulation E requires the bank to provide provisional credit back to card customers within 10 business days. This doesn’t allow a lot of time for bank employees to review purchases and make determinations. Various business rules need to be applied by the bank employee when making credit reimbursement decisions. Approximately six hours a day bank employees review credit card disputes and manually apply their rules. Based upon our assessment, the bank is ready to move forward with automating many of its manual credit decision rules and thereby reducing manual effort and errors.
In addition to this assessment, Y&L has worked with this financial institution on performing other assessments prior to execution involving their ACH wire transfer process, customer onboarding process and CRM data analytics initiatives.