Case Study

Chorus Integrates with RPA to Cut Data Transfer Time by 85%

85%

reduction in resource hours per month

Reliable data

Improved customer experience

Chorus took very specific rules and data sets and created bots to ingest all the information, cleanse it and put it into our required format. With RPA, there’s very little human intervention once the programming is done. Now we’re getting regular updates of the information on a monthly and quarterly basis."
Client VP, Transfer Agent Functional Lead

The client is one of America’s largest and most venerable fund families in the financial industry, a $300 billion AUM firm that traces its lineage back to the 1930s. Every month, they received about 50 critical client data feeds from intermediaries. Processing them had become a headache and resource drain. 

Challenge 

Mutual fund families share clients with dozens of intermediaries such as brokerage platforms, advisory firms, and retirement plans. These partners send essential data every month, in a format entirely of their own choosing. 

Our client spent a lot of time creating and maintaining systems to standardize all this incoming data. The main issue was when something changed. With close to 50 sources per month, being forced to update and rewrite code was more the rule than the exception. 

"We get around 50 different client data feeds from intermediaries," said the company's Client VP. "Each format is different. We spent years building logic to handle all the different feeds, but they would change on a regular basis. We’d then have to figure out the changes, and reprogram, which slowed our ability to load the data in a timely manner."

Solution 

Chorus integrated robotic process automation (RPA) to tackle this ever-shifting sea of data. The systems were smart enough to detect and solve changes with little to no manual intervention.

Benefits

  • 85% reduction in resource hours per month
  • Reliable data: clean, timely, consistent data entry
  • Improved relationships: access to up-to-date CRM info gives client service an edge

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