Client: LAXMI BANK Region: APAC Industry: Banking

UiPath Helps One of the Biggest Banks in Nepal Embark On Their Automation Journey

One of the largest banks in Nepal, and also technology leaders in the banking sector, Laxmi Bank embarks upon its automation journey with the UiPath robotic process automation (RPA) platform.

The world of automation has been slowly and steadily making its way into the quiet, mountain country of Nepal. Laxmi Bank, one of the leading banks in the country and a pioneer in technological advancements, has been busy paving the way for robotic process automation (RPA) and for technologies like machine learning (ML) and artificial intelligence (AI) with the help of UiPath.

Jiwan Limbu, Chief Technology Officer (CTO) of Laxmi Bank, and also the one leading automation through its doors, started this journey of digitization by becoming completely paperless in 2018. Automation and workflows followed soon after. “RPA was the next step for us in this journey,” shares Limbu. So, with the help of DigiConnect, the only company in Nepal with certified UiPath RPA developers, Laxmi Bank embarked upon this voyage.

Why RPA?

The goal was to find a platform where all the different systems could integrate and intelligently collaborate. Without human intervention or error. “Fetching data from different systems was one of the most time-consuming jobs for us. For example, the end of the day processing that takes place at every branch of the bank. Typically, it would take an employee almost an hour to carry out EOD at the branch. Now, we have a Uipath robot that does it in half the time with complete accuracy,” says Limbu.

Manually syncing customer data from various sources was another big challenge. It was time consuming, error prone, and was difficult for employees to handle the inflow of work. The bank was looking for a solution to take care of these drawbacks and create efficient systems. This is when Limbu came across RPA and decided to give it a shot.

Why UiPath?

“The first reason we chose to connect with UiPath was because it was on the top of the list according to leading industry analysts for the RPA market”,” says Limbu. “UiPath was a certified RPA provider with a great support system with a proven success track from among the 11 contenders whom we evaluated,” Limbu further explains.

Their requirement was also somewhat unique. They weren’t looking for a ready-to-install solution, but a customized one that would be developed in-house by their employees who would undergo training for it. UiPath provided the platform, training, and support for all of this in record time.

We evaluated all our vendors by taking a couple of hours of training with them. UiPath was the one that was the most approachable, responsive, supportive, and had the needed technical know-how to train our employees in developing and deploying the solution. This is precisely why we chose UiPath as our preferred vendor to create our platform

Jiwan LimbuChief Technology Officer (CTO) at Laxmi Bank

UiPath, in partnership with DigiConnect, provided the platform, training, and support to help Laxmi Bank build the automated processes on their own.

“We wanted to achieve digital transformation across our branches and it has been made possible because of RPA,” says Limbu. The bank used to hire people to simply manage and extract data. That cost has come down to zero, errors have been eradicated, and time is being saved, all thanks to the UiPath Platform. There is now uniformity to the data as there is one platform where all the data is collected and analyzed.

Deep dive into a use case

One of the biggest projects for us in RPA was the product migration in core banking systems. There were more than 100,000 accounts, scattered in different products, and we wanted to bring them together in a single product.

Jiwan LimbuChief Technology Officer (CTO) at Laxmi Bank

For this, the data would have to be segregated, analyzed, understood, and then bundled together in one single product. “Manually, we would have taken a minimum of three months to get all this done, with sets of makers and checkers in place, who would be manually logging in the data,” explains Limbu.

With UiPath, the entire project was done in 15 days. “We created a robot with login credentials to extract and punch in data. We not only reduced the time for this entire project, but also achieved 100% accuracy with no human error,” he added.

Future goals

“For us, the next step would be to incorporate AI and ML for our processes with UiPath. We would also like to train our front staff in using the robots and decentralizing the entire process,” says Limbu.

 

BY THE NUMBERS

 

  • 4processes have been automated
  • 5more processes to be automated by the following month
  • 5UiPath robots have been deployed
  • 50-75%of time saved by UiPath robots
  • 100%accuracy and efficiency reached
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