OpenBots Studio Platform Speeds Up Loan Processing by 70%, Cuts Costs by 50% for Horizon application

This process automation leverages OpenBots Agentic AI to streamline loan data integration and customer onboarding for the Horizon application. The bot retrieves funding data for new loans, extracts key data points from the Encompass application using filters, and consolidates the data for upload into the Horizon Core Banking System. The process begins with the bot downloading the latest funding report and applying pipeline filters within the Encompass application to extract required data such as loan amounts and borrower details. The extracted data is then cleaned and transformed using custom scripts to match the required Horizon format. Next, the bot checks each loan in the Horizon application to determine if an existing customer exists. If a match is found, the new loan will be added to the existing customer profile. If not, a new customer profile is created before setting up the loan account. Finally, a summary report is generated to detail the operations performed and highlight any issues encountered during the run.