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 on-going 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 Robot 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 are 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 robots
We can work with you to streamline your automated processes with both pre-written and custom Robots.