The Challenge
Accounting for new and changing regulations is normally 10-15% of a bank’s operating costs. This Fortune 500 financial institution - one of America's largest commercial banks based on assets managed - needed to make this percentage smaller by automating its mortgage approval process with a more efficient governance model and removing non-compliance risks from the manual, time-consuming procedures it was using.
"Whenever you think about bots, you think about them replacing the human workforce and breaking down the traditional organization. Our experience is entirely different. Blueprint was able to help us gain significantly greater control over our automation process because we were able to ensure all regulatory requirements were accurately traced, versioned, and stored in one centralized space. Our teams are now confident in the work they're doing, and our customers are happier because of it."
- Director of Risk, Fortune 500 Financial Institution
The Solution
The bank chose Blueprint's Enterprise Automation Suite to effectively model all their as-is processes for mortgage approvals and collaboratively optimize the to-be state for automation. Using Blueprint’s extensive tracing capabilities, they were able to connect all processes and process steps to federally-provisioned regulations on mortgage approvals. With the Blueprint Impact Explorer, they can now instantly visualize the impact of a change to a regulation and immediately understand which bots need to be updated, allowing them to manage change 30% faster while significantly increasing compliance.
The Results
By leveraging the Blueprint Enterprise Automation Suite, the bank experienced 30% time savings for their change management and compliance handling responsibilities, significantly reducing the operating cost this function previously demanded. Because they were able to connect all regulations, policies, and controls to their mortgage approval processes for automation, this rich contextual information packaged into Digital Blueprints also led to better governance and guidance for RPA development that reduced rework and bot outages from missed requirements by 3x. A combination of their time savings and decreased rework is ultimately what led to the 5x ROI from the their initial investment in Blueprint.
