Financial Services

Business Monitoring

Post Offer Checks

Problem Statement

When an offer is made, the BMU team need to check that the offer was made accurately, given the details of the client and the funder and product who the offer has been made on behalf of. The process involves checking of over 100 pieces of data between several different documents and systems

 

Process Overview

A case is opened in Back Office and a paper checklist is collected ready for processing. The worker would go through the checklist, marking each check with a “Y”, “N”, or “N/A”, with the answer being determined by data found in Back Office and within the documents for that case (valuation report, offer etc). Each funder and product has its own set of rules which must be followed and so these should be considered when making data comparisons and determining the output for the checklist. Once all checks are complete the paper checklist is signed and scanned on to the case in Back Office. Several Excel logs are filled out and the case is marked as complete in Back Office and work will begin on the next case.
This process is completed between 20-65 times daily, taking around 25-40 minutes depending on case complexity.

Systems: MS Word, MS Excel, MS Outlook, Adobe Pro, DPR Back Office

 

Solution

The process was automated excluding the reading of any unstructured or scanned information. An electronic version of the checklist is used by the robot and it is able to answer more than 70% of the checks. There are certain checks that are performed that would require further, more complex investigation and so the robot will note each of these on to the checklist as a flag for the human team to check over when receiving the output of this process – this falls within the natural process, rather than leading to a business exception and so allows for a much greater return on investment and a lower exception rate, simply noting an area the human team was going to check as part of BAU.
Developed solution accurately processed 100% of cases with <5% exceptions.