Modrá Pyramida Building Society is a 100% Czech-owned company that has been operating on the market since 1993. It currently operates a network of more than 200 advisory centres in the Czech Republic. It employs 300 people and more than 700 advisors. Over the course of its existence, MPBS has lent over CZK 180 billion to more than 400,000 clients. A larger volume of loans goes hand in hand with an increased administrative burden on employees. One possible solution is the implementation of software robots. Robotisation helps automate the processes associated with processing loans.
The manual entry of applications for registration in the land register is time-consuming and causes errors that accompany manual processing, which represents a considerable financial burden. This is why the Modrá Pyramida Building Society contacted us with a request for the robotisation of the whole process.
The Modrá Pyramida Building Society is a financial institution that specialises in financial products to finance housing. The most frequently chosen products include: building savings, building society loans, bridging loans or mortgage loans. Once a contract has been signed, employees must manually enter all the details from the loan contract into the land register.
In the past, employees manually entered all data and submitted a manual application for entry in the land register for each individual case. The whole process was time-consuming and there were inherent human errors, resulting in wasted money charged to MPBS for incorrectly filed applications for entry in the land register.
The software robot is designed to automate all routine activities - it autonomously logs in to the land register using assigned login credentials, makes the entry and generates a document with an application for entry, which is then uploaded to the core system.
After familiarising itself with the whole process, the Automation Team at StringData proposed robotisation of the process of submitting applications for entry in the land register, which includes logging into the land register portal, creating a new entry, filling in all the necessary details and then saving the completed application.
We deployed UltimateRPA robots at key stages of the process. The robot finds the necessary title deed, reads the data and enters it in the land register. The generated document with the application for entry is then imported back into the core system.
The software robot is designed to autonomously log into the land register using login credentials. After successful login, the robot clicks on the New application button and selects Create application for entry. It then enters all data obtained from the agreement on the establishment of a lien on the property and the loan contract in the application. The application for entry in the land register must include information about the property, the parties to the contract, ownership and other rights, as well as supplementary information and a summary at the end.
Watch a demonstration of how the software robot works in our short video.
Thanks to robotisation, the entire process has sped up significantly. StringData software robots work 24/7 and don’t make mistakes, whereby Modrá Pyramida Building Society saves more than CZK 500,000 per annum.
Robotisation has saved Modrá Pyramida Building Society a lot of time, reduced errors and has taken over the performance of routine, time-consuming administrative activities.
Thanks to robotisation, the whole process of submitting an application for entry in the land register is now automated. The robot finds the required data from the agreement on the establishment of a lien on the property and the loan contract, reads the required data and information and enters everything in the land register.
The project was handled by the StringData Automation Team, which worked closely with representatives of the Modrá Pyramida Building Society’s IT department, business analysts and expert process guarantors.
The first phase of the project involved data collection, which took approximately 1 month. The subsequent solution, including all processes relating to preparation, testing and implementation, took 4 months from final deployment to live operation.