NDB becomes SL’S 1st bank to implement RPA system
NDB Bank marked a significant milestone in Sri Lanka’s banking history by implementing a Robotic Process Automation (RPA) system with Potenza (Pvt.) Ltd.
In collaboration with Potenza, NDB will be the first bank in the country to implement the RPA system. With the launch of the NDB’S RPA system, Potenza is recognised as the first company in Sri Lanka to successfully steer an RPA implementation for mainstream banking. The automation system will help the bank save approximately Rs.11 million per annum.
The RPA systems have the capacity to significantly streamline an organisation’s operational processes in addition to enhancing the overall efficiency and effectiveness. RPA automates repetitive mundane tasks across applications and systems ranging from front office processes to back office workflows and redirects human capital towards business functions, which require more analysis and decision-making.
NDB Chief Operating Officer Deepal Akuretiyagama said, “NDB is extremely happy about this successful introduction of Robotics Process Automation to the bank. This process will provide superior service to the customers via increased internal efficiencies while reducing the possibility of errors. This is the first of many steps we are hoping to
take forward in embracing the digital future of the bank.”
As the first bank to deploy a digital worker alongside its regular employees, NDB will reap considerable benefits from the new automation system, with enhanced efficiency and meticulous precision in addition to the elimination of inevitable human errors. The RPA system developed by Potenza focuses on NDB’S customer credit facility covenants compliance monitoring processes. This is a crucial aspect in credit risk management, which until now has been implemented manually at NDB via a series of worksheets.
Speaking on the milestone, Potenza Chief Executive Officer Dhanusha Muthukumarana said, “We are incredibly honoured that NDB chose to partner with us and transform their business by implementing this RPA system. Post implementation, manual labour will now drop to less than three hours a day, where the system will run automatically at a prescheduled time. Employees who engaged in this task previously can now move to areas where their decisionmaking skills are required, thus ensuring that resources are used effectively.”
He further added that the same robot can be assigned to carry out additional tasks in the future, thus paving the way for the bank to maximize the utility of robotic resources while augmenting the ROI of the RPA initiative.
NDB’S RPA records a direct ROI of over 80 percent, as a result of cost saving due to the enhancement of overall process efficiency. This has helped the bank to save a substantial amount, approximately Rs.11 million per annum. Improved precision in the process and functions due to the elimination of human errors, enhanced transparency and simplification further deliver a host of intangible benefits to the bank.
Potenza has achieved the Centre of Excellence (COE) Status from Automation Anywhere, a worldrenowned developed of RPA systems based in the USA. The RPA projects that have currently been developed by Potenza since its partnership with Automation Anywhere in November 2018 encompass a wide spectrum of sectors including banking, insurance, apparel and shared services. Potenza was established as a Business Transformation company with an aim to help its clientele unravel their true potential through a people, process and technology-driven approach. Being a company with fully local consultants to engage in its implementations, Potenza offers expertise in global technology platforms such as SAP, IBM, Oracle, ASG, WSO2 and Microsoft.
Furthermore, Potenza offers a suite of best in class solutions focusing on ERP, Digital, Insights and Integrations to their clients. In addition, they provide expertise in various aspects of business technology service engagements including implementations, customisations, support, upgrade and migrations.