Robots process tens of thousands of mortgage and consumer loan deferral requests
Kryon, the leading full-cycle automation solution provider known for its customer-centric approach to robotic process automation (RPA) and process discovery, announces yet another timely and innovative collaboration, this time with Bank of Jerusalem.
Following Bank of Israel’s guidance to all banks to ease customers’ challenges during the COVID-19 pandemic, the Bank of Jerusalem took action to help alleviate financial hardship by allowing customers to freeze their mortgage and consumer loan payments for a period of three months. This customer-focused decision required an urgent automation solution to efficiently process tens of thousands of deferral requests ahead of the payment due dates.
Bank of Jerusalem deployed Kryon’s unattended automation solution to process thousands of customer deferral requests submitted via various channels. These requests were of varying complexity, depending on factors such as the type of loan, type of customer and payment date, and the relevant data was distributed across multiple legacy systems. Thanks to the ease of use of Kryon’s RPA solution, Bank of Jerusalem integrated the solution quickly and was able to process tens of thousands of deferral requests in record time.
“Our customers are our lifeblood and we wanted to do everything we could to help them get through the economic challenges posed by COVID-19,” says Noga Rosenfeld, Head of Information Management at Bank of Jerusalem. “It was clear to us that we’d need to go down the automation route to have any chance of meeting these objectives in a timely manner, and Kryon’s a solution ticked all the boxes. Even more impressively, we had everything ready to go just in time.”
“The coronavirus pandemic has hit every industry hard, resulting in significant downward pressure on revenue, and the banking sector is no exception,” says Harel Tayeb, CEO of Kryon. “As the effects of the economic shutdown continue to spread, it makes perfect business sense for forward-thinking banks to do everything they can to help their customers make ends meet during times of unprecedented uncertainty. Kryon’s Full-Cycle Automation Suite offers banks an exceptionally fast, reliable and cost-effective way to automate these critical new processes for immediate results.”
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