Adoption of Robotic Process Automation

Adoption of Robotic Process Automation
“RPA Implementation Brings 54% Efficiency Boost for Curo Fund Services in Price Source and Scrubbing Teams”
Curo Fund Services, a leading provider of fund services, has seen a significant increase in efficiency thanks to the implementation of Robotics Process Automation (RPA). Working with vendor partner LarcAI, Curo was able to automate pricing information extraction, consolidation, and updates from various sources, as well as supplementary information that is sourced daily. This resulted in a 54% increase in efficiency in the price source and scrubbing teams, with a reduction in the error margin due to manual capturing of prices and an auditable and standardized process for identifying errors.

According to Curo CEO Barri Maggott, the RPA implementation has had a positive impact on the company’s price sourcing process and procedures. “The overarching aim of projects like this is to consider operational efficiencies that benefit our clients and streamline our operations,” he explains.

The RPA solution has also allowed Curo to increase exception management and perform 65% of targeted instructions using the robot, with the remaining 35% falling outside the robot’s parameters. Based on the benefits achieved, further opportunities for RPA implementation have been identified and implemented, delivering positive returns in line with the company’s business strategy.

Jannie Strydom, CEO of LarcAI, adds that the success of the RPA implementation allows Curo Fund Services to strategically position itself for future successes in robotic implantation, driving down the cost of operations without impacting customer centricity or social responsibility. In the long-term, Curo aims to apply additional technology to enable higher efficiency, improved governance, additional controls, and improved accuracy, all aimed at reducing risk for clients.