The Co-operative Banking Group Achieves 80% Savings in Processing Costs
Find out how the Blue Prism platform helped the Co-operative Financial Services automate its excess queue procedure, improving efficiency by 80%.
The excess queue procedure is carried out daily to accept, reject and return direct debits, cheques and standing orders as a result of the customer having insufficient funds to meet payments. Overnight BACS processing results in a daily "queue" of customers with payments due to leave their accounts and with insufficient funds to meet these payments.
- Redeployment of employees into proactive customer account management roles
- 80% of process now automated
- Increased inbound customer-service call levels
- Significant improvement of consistencies around customer account management
- Creation of "virtual team of 20 employees" ensures processing deadlines are met each day