Case Study: a large financial institution from the US streamlines Letter of Credit issuance with Sun Technologies

a large financial institution from the US speeds LOC issuing 80% with Sun Technologies

A large US financial institution, a customer of Sun Technologies, faced significant challenges in its manual, error-prone process for issuing Letters of Credit (LOCs) for its member banks. Its legacy PowerBuilder application caused delays, required extensive manual reconciliation, and made it difficult for auditors to retrieve information, leading to inefficiencies and a high potential for errors.

Sun Technologies migrated the legacy system to a modern Java-based web application, automating processes with RPA Bots. The new solution automated batch processing, data retrieval, report generation, and fee calculations. This resulted in an 80% faster turnaround for issuing LOCs, automated 95% of data-related tasks, and saved 75% of auditors' time previously spent on manual data collation.