Automating transaction processing leads to 25% cost reduction for a financial leader | HCLTech

Automating transaction processing leads to 25% cost reduction for a financial leader

HCLTech streamlined financial operations using workflow automation for a leading Capital Markets company
5 min read
5 min read

In the pursuit of operational efficiency, a prominent American financial services and capital markets leader sought to transform their transaction processing from a manual, time-consuming endeavor into a streamlined automated workflow. This case study explores how HCLTech harnessed Camunda — the workflow and decision automation platform — and its process orchestrator capabilities to achieve this goal.

The Challenge

Rethinking transaction management

The existing transaction processing workflow was burdened with manual tasks. Data sourced from various files across multiple channels was laboriously matched and processed. These manual interventions led to inefficiencies and errors, particularly in handling outstanding transactions, which were coded and processed separately by regional teams. This siloed approach to transaction management needed an overhaul to enhance efficiency and reduce manual efforts.


The Objective

Enhancing transaction matching with Camunda

The primary objective was to automate the transaction matching process and minimize manual interventions, while improving operational efficiency. Furthermore, the goal was to ensure future readiness by utilizing Camunda's capabilities and accommodating the ever-evolving rules, numbering approximately 26,000.


The Solution

Empowering transaction matching with Camunda

Leveraging Camunda's process orchestrator capabilities, the transaction matching process was automated, significantly reducing the need for manual interventions. Additionally, a future-ready approach was adopted by not using the embedded engine, making it compatible with future Camunda 8 upgrades. This approach also allowed for versioning of the numerous rules that played a crucial role in the process.


The Impact

Camunda’s impact on efficiency and cost savings

  • Improved customer experience: Automation streamlined processes, leading to improved customer and end-user experiences
  • Efficient issue triage: The system facilitated easy triaging of production issues, with no significant problems reported to date
  • Reduced false positives: A remarkable 60% reduction in false positive channel conflicts
  • Faster processing: Turnaround time for application processing improved to an impressive 6 hours
  • Cost savings: Overall, the company achieved a 25% cost reduction through a reduction in manual efforts and the introduction of automation

The adoption of Camunda's capabilities transformed transaction processing, delivering substantial benefits to the financial services and capital markets leader.