AI Case Study
Barclays automates processing and reduces bad debt provisioning by millions using Robotic Provision Automation
Barclays implemented RPA across a wide range of processes including accounts receivables, fraudulent account closure, loan application opening, 'right of setoff', etc automating documentation process.
"Barclays Bank, has implemented RPA across various processes which include but are not limited to – fraud detection, risk monitoring, account receivables processing, and loan application. With the implementation of RPA enhancing productivity, Barclays was able to save over £175 million annually in bad debt provisioning."
The company claims:
* Barclays saved around 120 FTEs
* Reduce bad debt provision by £175 million per annum.