Nintex Case Studies Increasing Productivity and Reducing Risk with Intelligent Automation at MMC

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	Increasing Productivity and Reducing Risk with Intelligent Automation at MMC Nintex

Increasing Productivity and Reducing Risk with Intelligent Automation at MMC

Nintex

Technology Category	Analytics & Modeling - Robotic Process Automation (RPA) Application Infrastructure & Middleware - Event-Driven Application
Applicable Industries	Education Life Sciences
Use Cases	Manufacturing System Automation Virtual Training
Services	System Integration Training
Challenge	MMC, a financial services company based in New Zealand, was facing significant challenges with its client onboarding process. The process was primarily manual, involving handwritten applications, which was causing major bottlenecks for the thousands of clients they onboarded every month. The manual process made it difficult to track issues, introduced a significant amount of risk, and resulted in double handling of material from a user’s perspective. This was due to the need to retrieve data from external systems, which also introduced risk and training issues due to the number of systems MMC had to integrate with. MMC’s CIO, Craig Richardson, recognized the need for a change to streamline the onboarding process, reduce risk and waste, and improve overall auditability. Read More
About Customer	MMC is a financial services company based in New Zealand. They handle the onboarding of thousands of investment clients every month. Their previous onboarding process was primarily manual, involving handwritten applications, which was inefficient and introduced a significant amount of risk. The company needed a solution that would not only streamline the onboarding process but also reduce risk and waste, and improve overall auditability. The company integrates with a number of external systems to retrieve data, which was causing double handling of material and introducing risk and training issues. Read More
Solution	MMC implemented a fully automated onboarding solution using Nintex K2 Five. This solution combined a custom user interface (UI) and a task-oriented process to accelerate client onboarding. The process was built with K2 Software and a Blue Prism-based bot was used to automate the task of extracting data from Salesforce and integrating it into a workflow process. Additionally, ABBYY’s Content IQ solution was used to provide document scraping and analysis capabilities. This solution, initially seen as a proof of concept, quickly became a critical piece of infrastructure that enabled scalability. The results were immediate, with a significant increase in the number of applications the team could onboard, sometimes even clearing the applicant queue way ahead of schedule. Read More Log in to view content
Contents

Technology Category

Analytics & Modeling - Robotic Process Automation (RPA)

Application Infrastructure & Middleware - Event-Driven Application

Applicable Industries

Education

Life Sciences

Use Cases

Manufacturing System Automation

Virtual Training

Services

System Integration

Training

Challenge

MMC, a financial services company based in New Zealand, was facing significant challenges with its client onboarding process. The process was primarily manual, involving handwritten applications, which was causing major bottlenecks for the thousands of clients they onboarded every month. The manual process made it difficult to track issues, introduced a significant amount of risk, and resulted in double handling of material from a user’s perspective. This was due to the need to retrieve data from external systems, which also introduced risk and training issues due to the number of systems MMC had to integrate with. MMC’s CIO, Craig Richardson, recognized the need for a change to streamline the onboarding process, reduce risk and waste, and improve overall auditability.

About Customer

MMC is a financial services company based in New Zealand. They handle the onboarding of thousands of investment clients every month. Their previous onboarding process was primarily manual, involving handwritten applications, which was inefficient and introduced a significant amount of risk. The company needed a solution that would not only streamline the onboarding process but also reduce risk and waste, and improve overall auditability. The company integrates with a number of external systems to retrieve data, which was causing double handling of material and introducing risk and training issues.

Solution

MMC implemented a fully automated onboarding solution using Nintex K2 Five. This solution combined a custom user interface (UI) and a task-oriented process to accelerate client onboarding. The process was built with K2 Software and a Blue Prism-based bot was used to automate the task of extracting data from Salesforce and integrating it into a workflow process. Additionally, ABBYY’s Content IQ solution was used to provide document scraping and analysis capabilities. This solution, initially seen as a proof of concept, quickly became a critical piece of infrastructure that enabled scalability. The results were immediate, with a significant increase in the number of applications the team could onboard, sometimes even clearing the applicant queue way ahead of schedule.

Impact #1	The implementation of the automated onboarding solution had a significant impact on MMC's operations. The solution not only increased the throughput of applications but also eliminated the use of paper, saving over 2 reams every day. This led to a significant reduction in waste and contributed to the company's sustainability efforts. Additionally, the automation freed up 2 full-time equivalent employees to work on efficiencies in other parts of the onboarding and registry process. The solution also reduced the training requirement for new staff as the Business Process Management (BPM) tool ensured the correct process was followed within the single application. This led to improved consistency in the onboarding process and reduced the risk of errors.

Impact #1

The implementation of the automated onboarding solution had a significant impact on MMC's operations. The solution not only increased the throughput of applications but also eliminated the use of paper, saving over 2 reams every day. This led to a significant reduction in waste and contributed to the company's sustainability efforts. Additionally, the automation freed up 2 full-time equivalent employees to work on efficiencies in other parts of the onboarding and registry process. The solution also reduced the training requirement for new staff as the Business Process Management (BPM) tool ensured the correct process was followed within the single application. This led to improved consistency in the onboarding process and reduced the risk of errors.

Benefit #1	50% increase in applications processed within the first week of implementation
Benefit #2	6,000+ onboardings per month
Benefit #3	500+ reams of paper saved in a year

Benefit #1

50% increase in applications processed within the first week of implementation

Benefit #2

6,000+ onboardings per month

Benefit #3

500+ reams of paper saved in a year

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Overview

Increasing Productivity and Reducing Risk with Intelligent Automation at MMC

Operational Impact

Quantitative Benefit