UiPath Enables Sumitomo Mitsui Trust Bank to Improve Operational Efficiency and Risk Management

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NEW YORK–(BUSINESS WIRE)–UiPath (NYSE: PATH), a leading enterprise automation software company, today announced that Sumitomo Mitsui Trust Bank, Limited has deployed the UiPath platform, enabling saved more than 400,000 total hours on labor-intensive tasks. In four years, the UiPath end-to-end automation platform has enabled the bank to successfully automate more than 250 critical business operations.

As the largest trust bank in Japan, Sumitomo Mitsui Trust Bank manages real estate and investment assets for a broad base of individual and corporate clients. Given its diverse and complex business scope, the bank saw the potential in using robotic process automation (RPA) technology to improve the efficiency of its low-volume, high-mix operations. In 2018, the bank embarked on a journey with UiPath to streamline and automate time-consuming tasks, improve risk management, and improve customer experience.

Empowered by the UiPath platform, the bank has successfully leveraged business automation across multiple workflows and business operations to meet the unique and rapidly changing demands of its customers. Together, UiPath and Sumitomo Mitsui Trust Bank have enabled:

Automation of more than 250 business operations and 500 workflows with UiPath Orchestrator

With UiPath Orchestrator, an automated workflow management tool, the bank has created over 500 workflows and automated over 250 operations, enabling its employees to work more efficiently and productively. More than 400,000 hours have been freed up to allow employees to work on higher value-added tasks. This allows the bank to easily handle heavy workflows without deploying additional resources.

Sustainable scaling of automation with UiPath Test Suite

Recognizing the value of RPA technology in automating existing processes, the bank plans to automate more labor-intensive tasks. With UiPath Test Suite, Sumitomo Mitsui Trust Bank is currently working on a plan to proactively test applications before deployment and ensure that existing workflows are constantly improving. In addition to RPA needs, the bank is also using UiPath Test Suite to develop an overseas accounting system, enabling enterprise-wide automation.

Improved standardization of business processes and improved risk management

Trust banking is very complex and often not covered in textbooks. To support complex business processes, the bank uses UiPath Process Mining, an automation discovery tool, which analyzes and tracks these unique business processes, and simplifies compliance requirements. The tool provides end-to-end visualization of business processes for each user, enabling the bank to identify bottlenecks, risks and other workflow inefficiencies, zoom in on process optimization opportunities and improve risk management.

Rapid collection of survey results

After shifting to webinars during the COVID-19 pandemic, the bank needed a faster method to collect survey responses after each seminar. With UiPath, the bank automates the collection and dissemination of large amounts of survey results to relevant departments, reducing the time needed from five hours to just 30 minutes.

Looking ahead, Sumitomo Mitsui Trust Bank plans to further harness the power of automation for targeted distribution of marketing materials and customer proposals. In doing so, the bank hopes to establish a single integrated process for acquiring, formatting, processing, accumulating and analyzing data, using artificial intelligence and business intelligence technologies.

About UiPath

UiPath’s vision is to deliver the Fully Automated Enterprise™, an enterprise where enterprises use automation to unlock their greatest potential. UiPath offers an end-to-end automation platform, combining the leading Robotic Process Automation (RPA) solution with a comprehensive suite of features that enable every organization to rapidly scale digital business operations.

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