The Robot Exchange

RPA for Wealth Management Market

Another industry where The Robot Exchange have found good client traction is in the Wealth Management field. A company based in Yorkshire, contacted TRX to do a review on an ongoing cost picture that has been driven by continued regulatory and compliance focus on the industry. Within 5 years their fee earners to admin ratio had moved from a 1:1 to 1:3 and new legislation means that having 3 admin to each fee earner will be under pressure to increase.

Taking an initial free proof of concept around customer inbound e-mails, The Robot Exchange were able to reduce the time spent on identifying the type of request, and where that request should be diverted or updated from the 150 hours a week to 33 hours a week. The RPA built was able to identify the client, search their application to add the client number, read both the body of the e-mail to identify specifics (for instance change of address) then divert or request proof from the e-mailer. In addition, it was able to auto populate templates to send by e-mail to confirm receipt of requests.

A range of new projects is being planned to further automate a number of more complex tasks to deliver more efficiencies, and the company is now prepared to look at acquisitions in the market to drive extra margin by utilising the RPAs

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We can work with you to streamline your automated processes with both pre-written and custom Robots.