Streamline Your Document Processes with Sales Development Automation for Finance

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appreciate the opportunity to come and speak today my name is bill hincher i'm part of uipath and our banking practice for banking and financial services so uipath as ron mentioned is the leader in rpa today and we do provide a full end end-to-end automation platform to help drive greater levels of automation throughout the organization so today i'll share a little bit about our platform and also what we're doing within the context of financial services so why do we focus on financial services so much here at uipath it's because of the addressable opportunity amongst the industry by a recent study by mckinsey you know upwards of 44 of the market and tasks within the segment are automatable and when we talk about automatable work we're not necessarily talking about replacing human employees with uh software robots we're talking about making those employees more productive how do we help them become more efficient every day how do we take the work that they don't like doing every day off of their plate so that they can do more enjoyable work they can focus on higher value added tasks they can focus on the client experience you know there are a whole nother uh you know gamut of benefits that we see and why organizations are now shifting their focus to automation and many times it's not reducing their employees or replacing employees with robots so obviously the the prior year has been challenging in a number of ways for for many different businesses and and what we've really witnessed amongst our client base are those clients who have embraced automation as a means of digital transformation have really been well positioned to address the changing business dynamics so covet 19 you know was a challenge for many different industries within banking specifically there were large government loan programs that essentially had to be addressed overnight so there was a demand there was an influx of demand from a volume perspective it was also an opportunity for those banks to capture more loan volume but all of these were really challenging from a manpower from a resource perspective and the clients that we work with were actually able to quickly adapt to the changing business environment and actually capture large uh portion of those loan volumes so these were automations that were put into production essentially overnight to meet the speed of the government programs that were actually being enacted just worldwide um so significant benefits to those clients who had embraced the automation perspective of their digital transformation journey and that's why we see that continuing to accelerate is because of the events of the prior year and how those businesses that have embraced automation had better business continuity and more robustness in terms of addressing different challenges so when we talk about robots uh as ron alluded to earlier we're talking about software robots not physical robots and really the the power of the robot is their way the way that they emulate human activity and the ways that humans interact with their pcs so you think about all the granular level activities that you do in the context of your day-to-day you're clicking you're typing you're double clicking open opening different applications copy and pasting data from one place to another these are all the types of activities that robots are capable of emulating robots can also see the screen the same way that users envision the screen leveraging our proprietary computer vision and what computer vision does is actually ties into the code behind the screen so that when certain components on screen might change location or format or they might say something different entirely you know we can tie into the code layer so that our automation doesn't break it it empowers a really robust automation additionally robots are able to to process anywhere from simple to complex logic and when we need to make more cognitive decisions our platform actually offers some artificial intelligence and machine learning capabilities that help those robots perform more cognitive decision making processes and then you know when we think about the applications that rpa and our platform are able to integrate with we do span the spectrum of really those old school applications things that are legacy they might be mainframe or terminal based and we also automate the new school applications things that are driven by apis and everything in between so we're able to really interact and integrate with a variety of different applications and that's really the strength of the platform and when we talk about that platform and how we drive greater automation across the organization you know we have tools to help people discover where those automation opportunities lie within their organization how to document them how to manage a pipeline we also have a variety of different tools to help different personas or different skill sets within the organization build automations so we have everywhere from a business user focus development tool called studio x to our main studio product that helps you know everybody from a business user to a professional rpa developer build automations we have tools within the platform that help the engage element of any automation so anytime we need to bring a human into the loop or have that human robot interaction and handoff we have a number of components that streamline and simplify that process very helpful when approvals need to be made in certain processes or exceptions need to be handled in specific processes and all of that is governed within our centralized orchestrators so compliance control governance our key tenants uh in everything we do here at uipath and that's all driven out of our orchestrator which instill compliance and audibility throughout processes so you actually get more compliant and more auditable processes where robots are logging every step in action that's being done and it actually drives a greater level of compliance than manual work typically does so when we look at financial services and we believe fully in the benefits of a fully automated enterprise here at uipath when we look at financial services that fully automated enterprise breaks down into four different pillars for us and probably the most obvious category is the first one assigning automatable work to robots this is about removing that mundane work off of employees plates removing the work that they really hate doing on a day-to-day basis freeing them up to do things that are more enjoyable more value is added to the organization this is probably the most common application of automation as people know it and there are a variety of different areas that we operate within financial services but where the industry is really headed and what some of our leading clients are doing today is this concept of a robot for every employee or a robot for every person within the company and this is really about that productivity added element to how we're making the workforce more productive more efficient how individual employees are leveraging digital assistant type of robots to help them perform their tasks on every single day so one of the most common type of scenarios is a contact center or a call center where call center agents are actually triggering robots when they're answering a call and those robots set off to go and gather all of the client information and bring it back to the call center agent we're all familiar with calling our bank maybe it's a fraudulent charge or something like that and the call center agent typically might have to put us on hold for a minute or two while they look up our transactions across different applications so many of our leading clients are actually leveraging the technology to go out so that call center agents are able to trigger that robot upon answering your call and the robot can go out and gather that information the call center agent can focus on communicating with you the client and hopefully that call is now shortened from maybe a seven minute call to a two to three minute call so significant benefits in the ways that you know employees are leveraging robots on their individual machines as an extension of that democratizing the the development experience is very important for us as an organization i mentioned studio x as a means to that automation but really there are a variety of factors why we see this being very important within the fully automated enterprise and if you're relying strictly on a professional development or centralized development team to build out automation we're going to be a little bit resource constraint in the amount or opportunities to capture those automation opportunities so everybody knows that it teams are resource constrained everybody might have things that can be improved in their day-to-day but it is limited in the ability to really automate or make a lot of those processes better so we need to put the tools to help you know automate and improve some of those processes in the hands of business users and we've seen we've seen this now uh being leveraged in a number of different instances investment banks of all shapes and sizes are actually leveraging our studio x platform giving it to junior bankers so that they can start to automate a lot of the excel work that they're doing maybe it's a reporting process maybe it's a data extraction from websites you know there's been a lot of interest in social media monitoring with how crazy the market's been lately so you know these are the types of automations that that people employees are able to build uh so that they can you know simplify their day these are tasks that are important to that individual and maybe they don't necessarily scale or maybe it doesn't think they're that important because they're not that impactful but to that individual to that team they may be a very significant automation opportunity and we need to be able to provide a tool to be able to capture that opportunity and then last but not least ai is really at the center of what we do in terms of enabling greater levels of automation uh to be able to tackle greater opportunities that exist within the organization and when i talk about ai and machine learning it's in very practical terms so we actually have a number of clients leveraging our artificial intelligence models to help in the customer servicing channels so things like classifying customer complaint emails so that those complaints get to the proper channels in a much quicker fashion and the customer response time is actually expedited and it's a better client experience that's one particular scenario in the case of mortgages a very document intensive business that's another area in which we see machine learning models being deployed to classify the the documents that are contained within mortgage packets to extract information from those documents so that robots can then process that information downstream and the whole mortgage origination process becomes a lot more streamlined it becomes a better experience from the client they get approved in quicker fashion they get their funds quicker they can close on a home quicker these are all the types of benefits that ai is actually enabling at a much greater scale throughout the platform so people's united bank and we work with banks and financial services of all you know institutions of all shapes and sizes people's united bank is a great example of that digital transformation that a firm can enact leveraging the uipath platform so they're actually using utilizing the platform in another number of different ways you can see here that you know citizen development is a key pillar in their automation program some of the other concepts that they've deployed automation very successfully uh in terms of their business have been uh with a merger with another bank they actually did about three to five weeks of merger data migration work in a matter of days leveraging the uipath platform so it can be very tactical in the sense that we can address very specific one-time problems or very large data shifting data migration efforts um and then you heard me talk a little bit earlier about the response that some of these banks had in terms of leveraging our platform in terms of ppp loans uh people's united bank was was one of these banks that was able to very successfully and quickly uh stand up some automations that helped process those loan programs and you know very successful type of automation their ceo actually referenced uh automation as a key driver uh in their response to the ppp loans and the coveted pandemic response uh on an earnings call within the last year so a very successful customer story that we're very proud of there and when i spoke about the the productivity element and how we're driving greater levels of productivity you know this is a very real scenario from a mortgage client of ours prmg who actually has redefined their entire underwriting process leveraging uh our technology to make their mortgage underwriting more efficient so you know they've been able to with the help of uipath's platform been able to increase the amount of loans underwritten per underwriter by about 50 and that as you can see has very tangible and real benefits for their top line revenue so it's about you know how we're driving productivity how we're driving greater levels of revenue how we're closing more loans in a shorter amount of time so that you know revenues are increased it's not just a cost savings we're actually playing offense and driving revenues on the top line and then last but not least this is how it all comes together this is how we amplify that journey how we help clients engage on their automation journey because we truly envision it as a journey not just a project so it starts out with discover i mentioned that earlier we help clients discover what to automate and then how to document that how to manage the pipeline when it comes to build we have a couple different personas or flavors of our development experience to help everybody from development i'm sorry from business users to developers participate in the development of automation all of it is encompassed in our centralized orchestrator to help you manage and govern uh the entire program robots as i mentioned earlier will either reside on a server and be triggered by a schedule or an event where they can reside on a user's pc so that the user can trigger automation to be run as needed throughout the course of their day engage covers all of those interactive elements of a process and how it helps simplify the human and robot engagement element and then last but not least it would all be for naught if we weren't able to measure the benefits being driven by the program so we have a whole set of analytics and dashboards that help you measure the return on investment that you're getting from leveraging the uipath platform so that's really how it comes together to help you transform your journey with uipath so with that ron i'll turn it back over to you i appreciate everybody's time today and and curious if there are any questions