An Industry Insight into Nykredit
Nykredit is one of Denmark’s leading financial services organizations. Their financial services range between mortgage, retail and investment banking, to insurance and leasing. When implementing new and cutting-edge automation processes, Nykredit keep their customers and business partners at the forefront of their minds and are keen innovators due to their values. We spoke to Margit Møller, the Portfolio Manager for the Robotic Pipeline at Nykredit, who gives us an insight into the unique challenges and advantages of implanting Robotic Process Automation (RPA) in a Nordic organization.
What is your role at Nykredit and how do you interact with RPA on a day-to-day basis?
I am the portfolio manager for all potential RPA processes at Nykredit. This means I am responsible for facilitating prioritization and ensuring that process development takes place in accordance to prioritization. I am currently installing a set-up for how we are going to prioritize solutions as we move forward so the whole organization is aligned. This will give the robotics team the necessary peace and focus they need for development.
Which aspects of a process make it more suitable for automation? How do you prioritise these processes?
I start my focus on small and simple processes so we can learn how to work with bigger tools along the way. A big task for me is explaining to the business what these tools are capable of. At Nykredit the demand for robots is high, but we have a number of processes that currently aren’t suitable for RPA. So, another important task is identifying which processes should be automated. There are many steps we need to take to reach the standards both for the process and the organization. How do we do all that? Well, we’re still in the process of improving this.
You implemented the first retail focused bot in the Nordics, how many bots do you have in operation today?
We currently have nine robots working in different areas of the business. We started with a process that did not affect the customer directly so that any initial errors did not result in a negative customer experience. However, at the same time, we put a lot of effort into developing the chosen process to benefit the customer and actually went on to re-designing the first couple of robots. I think we should spend half the time building the same process robots.
How does that sort of innovation come about?
Before the building happens, we map the process by going through the systems involved and documenting the process. Based on this we get a sign-off from the responsible business units. This method allows us to see which systems the process is going through and whether it should read or update the systems involved. At the same time, this overview allows developers to see if they need to change the order of process steps or change the scope upfront. All of this requires a close dialogue with the business unit.
What are your tips for people who want to get higher management on board with automation strategies?
I don’t think we have one manager who can’t see the potential of RPA and its importance moving forward. At Nykredit, we have a great demand for robots because they are relatively inexpensive to develop and in some areas it is a good alternative to long-term IT developments. We can also remove manual repetitive work from the employees, making the company a more attractive workplace. I think all of the things I mentioned would make a good argument to a company but I think it comes down to whether the company can afford to use, or not use, RPA.
What’s the biggest tech innovation for Nykredit in the next 12 months?
I would say to gain some hands-on experience with emerging technologies. We have gradually gained experience with robotics and we will keep aiming to build a strong virtual workforce focusing on large code re-usability and easy scaling. Currently, we’re working on a chat bot and my expectation is we will gain a lot of knowledge with this technology over the coming year. The next big thing is Machine Learning and we will open our projects to that in the next 12 months too.
Want to know more about Margit Møller's opinions on Intelligent Automation in the Nordics? Margit has also offered us her opinions on Nordic specific challenges in another post on our blog titled 'Automation in the Nordics: How to solve the Challenges,' follow this link to read more.