CUSTOMER SUCCESS

Deutsche Bank

Driving digital transformation around the world

Deutsche Bank, a multinational investment and financial services company, automates its compliance operations with significant cost reduction and improved capacity.

deutsche bank success story
deutsche bank logo

Challenges:

  • Silos of data and disparate systems
  • Manual processing of  files and electronic forms
  • Employees wasting time on low-value work

Results:

  • Vastly improved compliance
  • Sizeable cost reduction
  • Significant increase in capacity

Operational challenges are the drivers for automation

Global enterprise Deutsche Bank’s assets are over $708B and its presence extends to 58 countries.

The organization faced operational hurdles following a period of rapid growth:

  • Silos of data and unlinked systems meant wasted time for employees moving information manually.
  • Mountains of paper and electronic forms required employees to process files and fact-check by hand.

Deutsche Bank selected WorkFusion's Intelligent Automation CloudTM as an unattended automation platform, to streamline processes that include unstructured documents, databases, the bank’s internal systems and third-party systems.

Intelligent Automation streamlines multiple processes

Deutsche Bank and WorkFusion have collaborated for over 3 years, implementing practical, ROI-driven automation solutions for its Operations, and also supporting customer experience, revenue growth, and transformation initiatives around the world.

As one example, the bank uses WorkFusion's AI-based automation platform to streamline an essential KYC screening process: Adverse Media Monitoring. Automation has dramatically reduced the time required to perform this task.

WorkFusion’s OCR and AI capabilities also help the bank analyze and process large volumes of unstructured documents daily. Previously, Deutsche Bank employees had to manually process documents – a costly, time-consuming and cumbersome operation. Now, the bots digitize documents, extract relevant information, and record data in the banking systems, thus saving the bank millions in costs and allowing teams to re-allocate employees’ time to higher-value tasks.

Training and enablement a key factor

Employee enablement and automation training is another area of importance for Deutsche Bank. The bank chose WorkFusion as a vendor in part because we provide automation training for several team roles through our online training platform, Automation Academy®.

We picked WorkFusion because they provide a learning automation platform, which means our employees did not have to become programmers to use it.

Scale automation enterprise-wide seamlessly | WorkFusion
More about Deutsche Bank’s automation journey
 
Watch Nischal Piratla, Deutsche Bank Director of Innovation, discuss the bank’s Intelligent Automation journey and the benefits the bank realized via automation.
Deutsche bank in the news
Deutsche Bank Innovation Labs

Global Finance Magazine researched innovation hubs around the world and identified 25 that stood out for their vision and effectiveness. Deutsche Bank is among them, in recognition of its bringing AI-driven document processing to Operations.

deutsche bank teamwork
deutsche bank teamwork
Deutsche bank in the news
Deutsche Bank Innovation Labs

Global Finance Magazine researched innovation hubs around the world and identified 25 that stood out for their vision and effectiveness. Deutsche Bank is among them, in recognition of its bringing AI-driven document processing to Operations.