Software Robots Ensure Speedy Financial Support in a Crisis: Blue Prism's COVID-19 Impact
LONDON and AUSTIN, Texas, April 29, 2021 /PRNewswire/ -- Blue Prism®, a global leader in intelligent automation, has provided vital support to financial services providers across the globe during the pandemic through its COVID-19 Response Program.
Blue Prism donated over 500 licenses, to help organizations rapidly introduce new customer and care services to handle the demands of the pandemic. The Blue Prism robots have automated over 480,000 hours of work, allowing new services to be created in record time, as well as support continuity of services to help manage the impact of COVID-19 on businesses and care services.
Helping organizations across 14 industries so far, the program has been instrumental in keeping health workers stay safe with PPE supplies, helping small businesses stay afloat and people keep their jobs through accelerating loan applications, making it easier to record and report essential statistics and facilitating the remarkable effort to get the vaccine in arms.
Blue Prism's COVID-19 Response Program has made a particular impact in the financial services industry. Individual customers, small business owners and large organizations all faced financial hardship as COVID-19 restrictions presented challenges throughout a period of economic instability. Blue Prism's AI-powered robots have been at the forefront of this effort; relieving humans from resource-heavy and time-consuming processes, so that workers can focus on what really matters - high value, customer-centric care.
Processing loans fast
Many business owners struggled to make regular payments, prompting banks, in line with government support, to offer loan and interest payment freezes for small businesses, keeping them afloat.
Thailand's oldest bank, Siam Commercial Bank (SCB), was overwhelmed by the influx of applications. In response Blue Prism deployed a solution that, within days, had enabled the company to process 100,000 backlogged requests, saving 8,300-man hours.
Jon Theuerkauf, chief customer strategy and transformation officer at Blue Prism, said: "Finding fast, effective solutions in the face of the unexpected is always important in business, but for the financial industry, with customers facing financial ruin within days, it was critical to turn around these processes at lightning speed. The speed and efficiency of intelligent automation proved invaluable at meeting these challenges throughout the pandemic".
Keeping roofs over heads
Mortgage payments became difficult for many as unemployment rose and workers were furloughed.
The rapid rollout of mortgage payment holidays in the UK led to operational challenges for lenders. When requests for payment deferrals suddenly increased along with call wait times, UK based Leeds Building Society turned to Blue Prism. Within days Blue Prism's digital workers were deployed, allowing the Society to tackle the requests effectively and significantly reducing call handling times.
Robotic Process Automation (RPA) Platform Manager at Leeds Building Society, Keith Woof said: "Blue Prism's digital worker donations enabled us to respond in record time to deliver a simple self-service process for borrowers who wanted to temporarily defer their mortgage payments. This intelligent automation created extra capacity during an exceptionally busy time, freeing up more colleagues to maintain service and minimize call wait times as we supported our members at risk of financial difficulty."
In Finland, Nordea Bank was one of the first banks to offer amortization-free periods for customers. To cope with the exponential increase in request volumes and avoid leaving customers waiting, Nordea quickly introduced Blue Prism's digital workers to automate the back-office process of adjusting customers' mortgages. Due to its immediate success Nordea has plans to expand this automation internationally to a caseload of over 100,000 customers.
Find out more about how you can apply to Blue Prism's COVID-19 Response Program.
Notes to editors:
About Blue Prism
Blue Prism is the global leader in intelligent automation for the enterprise, transforming the way work is done. At Blue Prism, we have users in over 170 countries in more than 2,000 businesses, including Global 2000 and public sector organizations, that are creating value with new ways of working, unlocking efficiencies, and returning millions of hours of work back into their businesses. Our digital workforce is smart, secure, scalable and accessible to all; freeing up humans to re-imagine work. To learn more visit www.blueprism.com and follow us on Twitter @blue_prism and on LinkedIn.
© 2020 Blue Prism Limited. "Blue Prism", the "Blue Prism" logo and Prism device are either trademarks or registered trademarks of Blue Prism Limited and its affiliates. All Rights Reserved.
SOURCE Blue Prism
Related Links
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article