Automated Bank Reconciliation Reduces processing time by 90%

Intelligent automation case study in Insurance and Banking.
Automated bank reconciliation makes reconciling statements faster and less error-prone for an India life insurance firm.
Read the detailed case study here: wonderbotz.com/case-studies/a...
This India-based life insurance firm’s process for reconciling bank statements was time consuming, error-prone and heavily dependent individual user’s knowledge of keywords.
This manual process was expensive to run and difficult to scale. Management required a scalable solution that could reduce the risk of mistakes and provide a strong audit trail.
The WonderBotz team created a Custom Automation solution that processed their bank statements according to keywords set by the business users. This user-friendly approach made the validation process adaptable to their needs without being reliant on specialists.
The automated bank reconciliation bot mitigated the risk of errors, enhanced accuracy, and reduced processing time by 90%.
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