Table of Contents
- Lessons Learned
“RPA allows us to grow. There were a lot of processes that were very repeatable and mundane. We are very much a human touch organization, so our colleagues can focus on that,” says Daryl Foster, leader of Process Improvement, Support & Automation at Skipton Building Society, of the implementation of Kofax RPA to automate and accelerate the evaluation of house prices.
Established in 1853 and headquartered in Skipton, northern England, the lender is one of the largest building societies in the UK, with more than 1 million customers. Through a nationwide branch network and online platforms, it offers a range of financial products and services, including savings, mortgages, and insurance.
Skipton Building Society is a mutual business—its members and customers own the company in a cooperative business model. To grow, Skipton Building Society needed to do more by reducing costs and not decreasing its staff headcount. Foster led an analysis of the building society’s operations, looking for areas that could benefit from efficiency gains and therefore free up the 2,000 staff to focus on customers and valuable tasks, allowing the organization to expand.
In summary, the organization achieved the following benefits from its RPA deployment:
- 1,300 hours saved per year across a single process, which Skipton expects to increase by 10 times as more methods are automated.
- Faster customer response times and shorter mortgage lead times.
- Existing subject matter experts (SMEs) can now support more complex work and upskill themselves.
- Data processing accuracy of 89%.