10xDS RPA Solution Automates Fire Insurance and Collateral valuation update process for leading Bahrain Bank
10xDS delivered an automated solution for streamlining the Fire Insurance and Collateral valuation update process for one of the largest banks in Bahrain. The process involves the periodical update of the Fire Insurance policy and collateral valuation details on the collateral that the Banks obtain as securities against credit facilities. The solution enabled complete automation of the Maker and Checker activities with necessary due diligence. Automation of this process eliminated the huge backlog the bank was struggling to handle and also drastically reduced the turnaround time for updating the values to the Core Banking Solution (CBS). The solution design expertly handled individual validations of Maker and Checker activities, eliminating any potentially fraudulent transactions or incorrect data updated to the CBS. 10xDS automated solution enabled seamless Maker and Checker operations with a detailed summary report of the request status. The bank can now avoid doing manual data entry and enable an error-free population of data in the CBS.