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Banking Innovation of the Month: Yapi Kredi RPA and AI as smart assistant for auditors 26 May 2021

Thanks to RPA and AI, the Turkish bank is saving its auditors time while reducing compliance risks.
Auditors have long had to spend too much time on mundane, tedious tasks. That’s quickly changing, however, at Yapi Kredi, one of the largest Turkish financial institutions. In recent years, robotic process automation (RPA) has streamlined bank processes, eliminating the need for human touch, while saving considerable time and money. The technology can be used for a variety of time-consuming tasks, helping organizations become more flexible, profitable, and responsive. It is this technology, along with AI, that Yapi Kredi has used to create the smart assistant that we chose for our innovation of the month in May. 
 
Auditors have always been subject to human capacity limits. It is impossible to gather all necessary documents and banking system data while reviewing every single loan in the audit scope. Previous loan examination processes relied on a sampling method, looking at loan attributes such as location, consumer demographics, and amount. This method was producing a sample set of 50 loans per audit visit to examine. It was very time consuming.
 
Thankfully, at Yapi Kredi, those time-consuming activities are a thing of the past. The smart assistant has created an entirely new environment for auditors at the bank. Auditors now have a powerful tool that can handle the repetitive, low-value activities. After the auditor defines the audit scope in terms of period and location for all loans, the robot collects loan information from the banking system and documents received from the customer during the loan sale. The robot prepares and files all this material for auditor (human) inspection.
 
All of the hard work being done by the assistant allows auditors to turn their focus to value-adding risk assessment activities with a wider loan set. Furthermore, compliance risks are dramatically reduced, with the auditor focusing on suspected files predetermined by the smart assistant. 
 
This incredible RPA and AI use case is an example of the innovative culture present at Yapi Kredi. By installing the latest technology on offer, they are freeing up their employees to focus on what really matters in their jobs. 
Yapi Kredi’s innovation will be automatically selected as a nominee for the Efma-Accenture Innovation in Banking Awards 2021. You can submit your innovations on the Efma Banking Innovation portal. Participation is free of charge and open to all banking institutions. Innovation of the Month is reserved for Efma members. Deadline to submit for June Innovation of the Month is 15 June.

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