Monmouthshire Building Society (MBS) has saved colleagues approximately 5,000 automation running hours, the equivalent of 560 working days. It says the gain results from processes built by intelligent automation provider SS&C Blue Prism.

Robo-colleague Beanie: onboarded in January 2022

To integrate the automation process into MBS, a robo-colleague, known as Beanie, was onboarded to be the ‘face of automation’ and officially started in January 2022.

Beanie helps colleagues to understand automation and its benefits in working alongside them to complete their daily tasks. It has been on a mission to help staff by automating manual repetitive tasks. As a result, it allows human colleagues to focus greater time and effort on providing improved customer service.

Beanie’s involvement with projects and strategic initiatives will grow this year as MBS continues its journey of being a modern, flexible mutual.

Intelligent automation platform boosts key data accuracy

The platform deployed Beanie to manage digital processes and highlight errors and inconsistencies within data records. MBS says it has significantly increased the quality and accuracy of its data. The society has also improved the management, quality and accuracy of its broker input data, from 45% to 95%. Again, this results from adopting the intelligent automation platform.

MBS embraced SS&C Blue Prism’s automation platform as part of its everyday processes in January 2022. It has since implemented a total of 20 automated solutions across nine business areas within the company. These include finance, IT, lending operations, product and customer contact departments.

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£226,000 annual saving

According to MBS’S calculations, deploying SS&C Blue Prism’s automated solutions has saved the society an annual total of £226,000. This has further enabled MBS to give back more than 10,750 working hours a year to its employees.

Jack Lavington, RPA Manager at Monmouthshire Building Society, said: “Since implementing SS&C Blue Prism’s automation solutions, we have seen huge success across the society. The key benefit of the platform has been the reduction of risk, the management of inaccuracies and errors, and most importantly, the increased capabilities offered when utilising automation. Our colleagues are now confident in placing their trust in the automated platforms. They are benefitting from the assistance and additional hours gained to focus on more complex tasks within the business, such as working on complex cases, servicing our customers and focusing on key project and strategic initiatives.

“As a society, we knew that we could not compete in the market without automation platforms. Before implementing the solutions, we had to tackle many process fluctuations, such as seasonal spikes in demand, due to attractive market rates and specific customer-exclusive products. These fluctuations were causing delays and bottlenecks. Now, our automated processes are working 12 hours a day, with an option to switch this to 24 hours a day depending on demand. These processes are improving speed of delivery and identifying and resolving inconsistencies in our data. AI and machine learning will set the benchmark for the industry, and we are looking now to implement the next level of hyper-automation within the business soon.”

Monmouthshire Building Society: a benchmark for automation adoption

Colin Redbond, SVP Product Strategy, SS&C Blue Prism, added: “We are pleased to have been able to support Monmouthshire Building Society through the successful implementation of intelligent automation processes across several departments.

“MBS has highlighted the benefits and what can be achieved if approached in the right way. And more importantly, how automation can support and assist employees in their day-to-day work lives. It provides them with the opportunity to focus on their personal and professional development. Monmouthshire Building Society has provided a benchmark for other companies looking to adopt automation processes in 2024 and beyond.”