Automated remittance workflows have boosted speed and accuracy but still need geo-tagging improvementsRemittance is a crucial part of my integral operation, so any disruption would majorly impact our clients. After switching to Appian, we never faced any disruption as it is reliable and we can generate data at any point in time, quite faster than other tools in my personal opinion. Regulators can ask for data from us at any time, and with Appian, we download data from our Appian tools to share it with them whenever they ask. I would share a real-life example: a customer's transaction processed more than a year ago. Suddenly the customer came back asking for all the details. In our previous tool, it was quite difficult to generate transaction details from over a year ago; however, while using Appian, we can pull up data using different key search fields, such as a customer's cell phone number, remittance tracking number, or MT103 reference number. We shared it with the customer instantly, and the customer was surprised we could provide all the details in such a short time. It added reputational value for our organization, thanks to Appian.You have pointed out two major things: time-saving and reduction of error, which are key points while processing remittance. Previously, while using another tool, it was quite time-consuming to process remittance, but after switching to Appian, it can extract data from MT103, eliminating the need for manual data entry. The process has become fully automated. Previously we could process only five to ten transactions within an hour, but now, after switching to Appian, we can process about 100 transactions in an hour, making it 10 times faster. In terms of error detection, since Appian extracts data from MT103, the extraction rate is quite good, and the error rate is negligible, lower than 0.001%. We can share accurate, error-free data with the regulator, which is essential for us. Appian benefits us significantly. After receiving an MT103, we check what the remitter is, the amount, if it is under threshold for processing, and if it is from a high-priority remitter or client. Since Appian extracts data from MT103 messages and identifies top-level clients from the database, it can notify us to process their transactions with priority. Due to automated data extraction, there are fewer instances of error. In our previous tool, we reported regulatory data to the central bank manually and often received complaints about invalid purpose codes due to manual data entry. Appian handles this automatically, and after switching, our error rate has dropped significantly, resulting in positive feedback from the Central Bank of Bangladesh regarding our reduced error rates. This has greatly enhanced our organization's reputation. Appian is fully on-premises, and we have our own system.
