SmartForm
SmartForm is a process optimization solution designed by ProcessLab to eliminate the high costs and errors associated with manual form processing in banking operations. It uses a source-document-first approach to drive automation and quality.Â
CORE FUNCTIONALITIES
- Quality at source: Replaces manual forms with a SmartForm that requires customers to upload source documentation (e.g., an invoice) to initiate a request or instruction.
- Execution Validation: The solution validates the request against the source document to ensure complete, accurate, and valid information from the very first step.
- Straight-Through Processing (STP): Automates the entire process, minimizing human dependency and enabling the successful, automated execution of the request (e.g., a payment).
- Insight to Action (Celonis Integration): Utilizes the Celonis EMS platform to provide complete visibility into complex processes, identify root causes of execution gaps, and trigger automations to close them.
KEY FEATURES & BENEFITS
Reduced Operational Costs
Elimination of human activities materially reduces the cost to execute requests and transactions.
Improved Customer Experience
Customers simply upload their source documentation and validate the request or instruction – the rest of the process is executed accurately and timeously.
Reduced Regulatory Risks
Monitoring and reporting on regulatory requirements are automated and a clear control framework provides real-time conformance visibility.
Flawless Quality
Ensures the highest quality, completeness, and validity of information from submission, eliminating human error and rework that compromise quality.
STANDARD BANK: Interview with Richard de Roos – Head of Operations: Corporate Investment Banking
A CELONIS ARTICLE: The role of process mining in driving digital transformation in banking
