more2life has partnered with robotic process automation specialists Robiquity to speed up its core servicing processes for lenders.
The partnership has seen more2life automate around 80% of its back-office services processes, improving speed by over 40% by using smart robots to tackle time-consuming administrative tasks.
This has allowed the lender to save 1,500 hours each month, giving the team more time to focus on supporting the customer-facing and processing teams to help improve the time between application, offer and completion.
Since using Robiquity, more2life has found that it takes on average just 6.9 days to get from application to offer.
Dave Harris, chief executive officer at more2life, comments: “Even before the onset of the Covid pandemic, more2life had invested heavily in technology, including robotics, to speed up our servicing and reduce the time it takes to get applications to offer and completion.”
In the last 12 months, the impact Robiquity has had on the business has been ‘phenomenal’.
“We are able to utilise this form of technology to drive positive outcomes and increase accuracy which is exactly what our advisers’ customers tell us they want from more2life.” Harris adds. “This leads to a smoother application process for advisers – in terms of back-office processes – and therefore ultimately the client.”
“Through the use of robots, we have been able to free up more time for colleagues to focus on either client engagement roles or areas of the business which need additional support in these unprecedented times.”
Harris goes on to say: “I am looking forward to seeing the further deployment of robots across 2021 and investigating further areas of the business where robots could be used to deliver even better outcomes for our customers.”
James Procter, head of consultancy services at Robiquity, adds: “more2life rapidly understood the wide-scale benefit of automation following the initial Robiquity led assessment. This allowed the programme to be driven at scale with key stakeholder engagement throughout.”
“more2life has recently transitioned to our Managed Service model providing them with the confidence that their scaled digital workforce will be effectively managed, maintain and continuously improved.”
He concludes: “We look forward to working with the more2life team over the coming years shaping more intelligent automation solutions to free up their skilled workforce.”