Banco Azteca, a leading financial institution in Mexico, has embarked on a significant digital transformation journey by integrating UiPath's artificial intelligence (AI) and automation technologies. This initiative aims to enhance operational efficiency and improve customer service, marking a pivotal shift in the bank's operational framework.
Key Takeaways
Banco Azteca has developed 190 automations, significantly improving various banking processes.
Over 56% of transaction clarifications are now resolved in under 24 hours.
The integration of AI has boosted productivity by 50% and halved the development time for complex bots.
Overview of the Transformation
Initially, Banco Azteca laid the groundwork for its digital transformation by developing 15 automations. Recognizing the potential of the UiPath Platform, the bank expanded its efforts within its Center of Excellence, leading to the creation of 190 automations that optimize a wide range of processes.
The results have been remarkable. The bank reported that over half of banking transaction clarifications are now resolved in less than one day, significantly reducing response times from an average of 13 days to just one.
Enhancing Customer Experience
Kathia Barrios, the Director of Transformation Operations at Banco Azteca, emphasized the importance of this transformation, stating, "The transformation that we have achieved using the UiPath Platform fortifies our competitive edge and underscores our commitment to innovation, setting a new standard for excellence in the financial sector."
The overhaul of batch processing has led to drastic improvements in handling high volumes of claims, enhancing both customer experiences and employee satisfaction.
Technological Advancements
The integration of UiPath Insights has provided Banco Azteca with valuable insights into process performance, while the UiPath Automation Hub has been instrumental in identifying and prioritizing automation opportunities. Key components of this technological advancement include:
UiPath Action Center: Streamlines operations and aids in compliance with banking regulations.
Document Understanding: Validates identification documents, ensuring adherence to both Mexican and international standards.
Significant Operational Efficiencies
The technological advancements have resulted in a 50% increase in productivity and a significant reduction in the time required to develop complex bots. For instance, in life insurance claims management, Banco Azteca processed 18,400 folios and validated 237,000 documents in a single year, saving 7,300 working hours.
In the legal department, the bank improved processing capacity, generating over $200,000 in savings per month. The financial document review process now handles 1,300 documents daily, effectively eliminating human errors and avoiding potential regulatory penalties.
Recognition and Future Outlook
Banco Azteca's successful implementation of AI and automation has not gone unnoticed. The bank was recently honored with the UiPath AI25 Awards, recognizing its innovative use of technology to enhance productivity and deliver exceptional business results.
As Banco Azteca continues to modernize its operations, the integration of AI and automation is expected to further revolutionize the financial services sector, setting a benchmark for other institutions aiming to embrace digital transformation in the age of technology.
Sources
Banco Azteca accelerates digital transformation with UiPath AI, Yahoo Finance.
Banco Azteca accelerates digital transformation with UiPath AI, Retail Banker International.
Banco Azteca Achieves Massive Cost Savings and Speeds Digital Transformation with UiPath AI and Automation — Tech Funding News, Tech Funding News.