Bot Profile
Efficiency: high
Complexity: medium
Robotic Process Automation
TechnologyOutcomes
Velocity
Productivity
Cost to Close
Benefits
- 70% reduction in processing time
- 100% automation of test preparation and data matching process and 100% data accuracy
Problem Statement
The client’s Qualified Mortgage (QM) Default Department performed quality control checks to ensure compliance with the rule, which required manual data aggregation from disparate databases and source systems, leading to long cycle times and a high error rate – ultimately increasing the risk of non-compliance and penalties
Solution
Sourcepoint’s team of experts collaborated closely with client stakeholders to understand their requirements, obtain necessary approvals to access internal tools, and develop the Business Requirements Document (BRD) and the Software Design Document (SDD). Next, the team used an iterative process to minimize errors in the design of the innovative solution – one that combined Robotic Process Automation (RPA) with SQL queries and macro solutions to automate workflows, and help move the data between databases and users
Tech Specs
45 days letter CoBot is an unattended digital employee powered by Automation Anywhere RPA suite and can be easily integrated with any system. It has been implemented on widely used workflow platform
Expertise
- Extract data from disparate databases, such as borrower names and addresses and match it with the data in the 45-day delinquency letters to ensure their accuracy
- Trigger automated emails for the document database team to access relevant files for quality control review and audits, enabling them to take corrective action and make continuous improvements