The Robotic Process Automation (RPA) and Its Effect on Customer Due Diligence (CDD) Process in A Financial Technology Startup in Indonesia

Abstract

This paper aims to understand how the Robotic Process Automation (RPA) works and its impact on the online customer onboarding or Customer Due Diligence process in a financial technology start-up. RPA is a popular approach taken by Indonesian-based financial technology companies to reduce the dependency to human agents. The paper uses both quantitative and qualitative methodologies to understand the context, create the time function map, analyze the impact comparison of Capgemini indicators of RPA success by using the data from the case company related to online CDD process, and gain insight for the next improvement. Results indicate that the RPA implementation in the online CDD process of the case company can improve the processing time, SLA achievement level, customer satisfaction, and the compliance. However, it causes the cost increase and quality of work data being compromised. This study provides many benefits for financial companies to learn on how to scale their onboarding fast as long as the company is willing to comprehensively assess the cost and quality of the automation technology before using it.

Keywords: Business Process Reengineering; Customer Due Diligence (CDD); Financial Technology; Robotic Process Automation (RPA)