Hyper Automation Qorus-Infosys Finacle Banking Innovation Awards 2025

Concept and Objectives: Hyperautomation project at Union Bank of India aims to revolutionize operational efficiency by automating repetitive, high-volume tasks across various departments. The primary objectives include reducing processing time, cutting operational costs, enhancing accuracy, ensuring regulatory compliance, and empowering employees to focus on strategic initiatives. The decision to embark on Hyperautomation stemmed from our commitment to staying ahead in the highly competitive banking sector. We recognized the need to streamline operations, mitigate manual errors, and meet stringent regulatory requirements efficiently. Automating routine tasks allows our workforce to concentrate on delivering personalized customer experiences and innovative solutions. State of Competition: In a competitive banking landscape, efficiency and customer satisfaction are paramount. Our Hyperautomation initiative positions us as a leader in operational excellence. By leveraging intelligent bots and advanced technologies, we set ourselves apart by offering faster, more accurate services while maintaining compliance and security standards. Sources of Inspiration: Inspired by best practices in automation across various industries, our project draws insights from successful implementations of AI-driven solutions in banking and beyond. These insights have guided us in adopting a forward-thinking approach to Hyperautomation. Departments Involved: This initiative has been a collaborative effort involving cross-functional teams from IT, operations, compliance, Digitization, Strategy. Close coordination between these departments has been crucial in aligning technological advancements with operational needs and regulatory requirements. Main Results So Far: Efficiency Gains: Reduced processing times by 40% through automated transaction monitoring and approval workflows. Cost Savings: Achieved a 30% reduction in operational costs by optimizing resource allocation and minimizing manual interventions. Compliance Improvements: Strengthened data security protocols and ensured strict adherence to regulatory standards, mitigating operational risks effectively. Hyperautomation project represents a paradigm shift in how we deliver banking services, setting new standards for operational excellence and customer-centricity in the industry. By harnessing the power of automation and AI, we have not only improved efficiency and reduced costs but also positioned ourselves as leaders in digital transformation within the financial sector. Hyperautomation at Union Bank integrates advanced technologies like Robotic Process Automation (RPA), Artificial Intelligence (AI), Machine Learning (ML), and Natural Language Processing (NLP) to fully automate business processes from end to end. This initiative aims to enhance operational efficiency, cut costs, improve customer experience, and drive revenue growth. By leveraging Hyperautomation, the bank automates a wide array of activities such as customer service, fraud detection, compliance, loan processing, and data analysis. Union Bank has already automated several processes, including auto-generating Letters of Thanks and freezing accounts for undelivered letters, generating Door Step Banking reports for branches and regulatory bodies, NEFT reconciliation, conducting bulk email campaigns to customers, purging CTS images, generating daily reports, and automatically sending pending account activation notifications to branches. Currently, the bank is in the process of automating more than 50 additional processes over the next two years using Hyperautomation tools. Multiple tools of Hyper Automation have been used in automation of different processes. Few of the automated processes are discussed below.

A. Sending of Bulk Emails to Customers: This automation encompasses a continuous process of monitoring, efficient email content organization and sending Bulk Emails to Customers. Resulting in improving efficiency, reducing manual labor, ensuring consistent and reliable email campaigns. Also, it saves 300+ human hours of work monthly and eliminates human errors. B. CTS Image Purging process: The continuous process automation ensures that the Manual involvement is replaced by automation by making CTS images available by taking backup and purging the previous dated images. Also, it saves 250+ human hours of work monthly and eliminates human errors. C. Providing Analytical Reports pertaining to Office 365: Making available of analytical reports related to Microsoft Office 365 to address any identified issues or opportunities within the system improves reduction in TAT and ensuring consistent data by making it available in early hours. Automating this process saves 1250+ human hours of work monthly. D. Prompt Intimation of pending work related to account opening to branches: Generation of reports for Account opening pending for scanning are distributed branch wise on daily basis ensuring completion of pending work related to branches for prompt updation. With this automation it reduces manual labor. Also, it saves 400+ human hours of work monthly and eliminates human errors.