Case Study: Large Bank achieves 70% productivity gains and faster KYC account opening with WorkFusion

Account Opening Automation Improves Data & Productivity for KYC

Large Bank, a full-service private-sector bank in India, needed to streamline its KYC-driven account opening process across channels like tablets and mobile devices while handling heavy document volume and strict compliance rules. The bank worked with WorkFusion and its Smart Process Automation (SPA) product to manage up to 10 document types and validate submissions against more than 100 rules without compromising accuracy or auditability.

WorkFusion implemented an end-to-end automated workflow combining RPA, cognitive automation, OCR, and human-in-the-loop exception handling to receive, verify, and route account-opening data. The results included a 70% productivity increase, a reduction in account-opening time from 48 hours to as little as 3 hours, auditable data for compliance, and projected savings of $5 million.