Potenza and NDB implement first Robotic Process Automation solution for mainstream banking

NDB bank CEO and Director Dimantha Seneviratne shakes hands with Potenza CEO and Managing Director Dhanusha Muthukumarana

• 1st phase of solution to help bank save approx. Rs. 11 m per annum

Dynamic business transformation company, Potenza Ltd. recently announced the successful implementation of a Robotic Process Automation (RPA) solution covering a mainstream banking process with NDB Bank, marking an iconic milestone in the annals of Sri Lanka’s banking history. 

In collaboration with Potenza, NDB will be the first bank in the country to leverage Robotic Process Automation capabilities in mainstream banking operations with properly implemented software bots also known as a Digital Workforce. With the launch of the NDB’s RPA Solution, Potenza becomes the first company in Sri Lanka to successfully steer an RPA implementation for mainstream banking. 

Robotics Process Automation (RPA) Solutions have the capacity to significantly improve an organisation’s operational efficiency while working hand-in-hand with humans seamlessly. In addition to enhancing the overall efficiency, RPA drives effectiveness while eliminating human errors in the process. 

RPA automates repetitive mundane tasks across applications and systems ranging from front office processes to back office workflows and redirects human capital towards business functions which require human intuition such as more analysis and decision making.

As the first bank to deploy a digital worker alongside its regular employees, NDB will reap considerable benefits from the new automation system, with enhanced efficiency and meticulous precision in addition to the elimination of inevitable human errors. 

The RPA system implemented by Potenza focuses on NDB’s customer credit facility covenants compliance monitoring processes. This is a crucial aspect in proactive credit risk management which until now has been implemented manually at NDB via a series of worksheets.Speaking on the milestone, Potenza Chief Executive Officer/Managing Director Dhanusha Muthukumarana said: “We are incredibly honoured that NDB chose to partner with us and transform their business operations by implementing the RPA Solution. Post implementation, manual labour will now drop to less than three hours a day, where the system will run automatically at a prescheduled time. Employees who engaged in this task previously can now move to areas where their analytical and decision making skills are required, thus ensuring that resources are used productively.” 

He added that the same software robot can be assigned to carry out additional tasks in the future, with faster implementation times and no changes to existing systems thus paving the way for the bank to maximise the utility of robotic resources while augmenting the ROI of the RPA initiative.

NDB Chief Operating Officer Deepal Akuretiyagama said: “NDB is extremely happy about this successful introduction of Robotics Process Automation to the bank. This process will provide superior service to our customers via increased internal efficiencies while reducing the possibility of errors. This is the first of many steps we are hoping to take forward in embracing the digital future of the bank.”

NDB’s RPA records a significant direct ROI as a result of cost saving due to the enhancement of overall process efficiency. This helped the bank to save a substantial amount, approximately Rs. 11 million per annum only with this single process. Improved precision in the process and functions due to the elimination of human errors, enhanced transparency and simplification further deliver a host of intangible benefits to the bank.