Based on the growing demand for systems to perform tasks that typically require human intelligence, such as pattern recognition, data analysis, adapting to new information and real-time decision making, intelligent automation is emerging as a perfect choice in the enterprise world.
To streamline operations, minimize costs, improve accuracy and enhance productivity in retail banking, commercial banking, wealth insurance and investment banking, TD Bank Group has jumped on the intelligent automation bandwagon, according to Amin Kermali (pictured, right), vice president of enterprise digitization and automation at TD Bank.
TD Bank Group’s Amin Kermali talks to theCUBE about intelligent automation.
“TD Bank Group, it’s a North American retail bank, top 2 in Canada, top 10 across Canada and the United States,” Kermali said. “We have the privilege of serving over 25 million customers. Operational excellence at TD is a top enterprise priority. Intelligent automation is one of the levers that we have within there. We look at it from a people process and tools perspective. We think about people, we’ve got a workforce capability that’s really around driving customer obsession and equipping our colleagues in the front lines and the operations teams to drive customer value.”
Kermali and Amit Kumar (left), strategic sales and field chief information officer at UiPath Inc., spoke with theCUBE Research’s Dave Vellante and co-host Rebecca Knight at UiPath Forward 2024, during an exclusive broadcast on theCUBE, SiliconANGLE Media’s livestreaming studio. They discussed how TD Bank is revamping operations using intelligent automation with the help of UiPath. (* Disclosure below.)
TD Bank sets the ball rolling with intelligent automation
Through a purpose-driven approach, TD Bank’s objective is to build a better bank, enriching the lives of its clients, colleagues and communities spread across Canada, the United States and globally. As a result, intelligent automation fits into the picture since it fosters innovation and enhances customer satisfaction through efficient contact center agents, Kermali pointed out.
“We take a look at automations or gen AI use cases and say, ‘How is it going to help us deliver the business outcomes for our customers, our colleagues or to help us drive optimization on our controls and our costs?’” he noted. “From a tools perspective, we’ve got the automation toolkit, and then from a process perspective, we’ve got our process engineering team. We’ve integrated those together to drive outcomes like customer centricity, colleague empowerment, controls optimization and cost savings.”
To streamline TD Bank’s lending and client onboarding processes, UiPath brings its prowess through products, such as AutoPilot, which enables agentic automation. As a result, complex processes are automated with minimal human intervention, according to Kumar.
“TD Bank has a mortgage business,” he explained. “A mortgage business will have a lending origination journey. Now with RPA, we might be able to do steps two, seven and eight of that and those are essentially tasks. If you include intelligent document processing to it, certainly the business value increases. Each of these loans has an underwriter, somebody who sits in TD Bank who analyzes the application. If we could give them an agent, let’s start with an Autopilot, we’ll increase the business value even further.”
Here’s the complete video interview, part of SiliconANGLE’s and theCUBE Research’s coverage of UiPath Forward 2024:
(* Disclosure: UiPath Inc. and TD Bank Group sponsored this segment of theCUBE. Neither UiPath, TD Bank nor other sponsors have editorial control over content on theCUBE or SiliconANGLE.)