UiPath Empowers Sumitomo Mitsui Trust Bank to Improve Operational Efficiency and Risk Management

UiPath | July 19, 2022 | Read time : 10:00 min

Operational Efficiency and Risk Management
UiPath (NYSE: PATH), a leading enterprise automation software company, today announced that Sumitomo Mitsui Trust Bank, Limited has deployed the UiPath Platform, resulting in savings of more than 400,000 total hours in labor-intensive tasks. Over four years, the UiPath end-to-end automation platform has enabled the bank to successfully automate more than 250 critical business operations.

As the largest trust bank in Japan, Sumitomo Mitsui Trust Bank manages the property and investment assets of a wide base of individual and corporate clients. Given its diverse and complex business scope, the bank saw the potential in using robotic process automation (RPA) technology to improve the efficiency of its high-mix low-volume operations. In 2018, the bank embarked on a journey with UiPath to streamline and automate time-intensive tasks, improve risk management and enhance customer experiences.

Empowered by the UiPath platform, the bank has successfully leveraged enterprise automation across multiple workflows and business operations to support the rapidly changing and unique demands of its customers. Together, UiPath and Sumitomo Mitsui Trust Bank have enabled:

Automation of over 250 business operations and 500 workflows with UiPath Orchestrator
With UiPath Orchestrator, an automated workflow management tool, the bank has created over 500 workflows and automated more than 250 operations, enabling its employees to work more efficiently and productively. Over 400,000 hours have been freed up for employees to work on more value-added tasks. This allows the bank to easily manage heavy workflows without deploying additional resources.

Sustainable scaling of automation with UiPath Test Suite
Recognizing the value of RPA technology in automating existing processes, the bank plans to automate more labor-intensive tasks. With UiPath Test Suite, Sumitomo Mitsui Trust Bank is currently working on a plan to proactively test applications before deployment and ensure that existing workflows are consistently improving. Apart from RPA needs, the bank is also leveraging UiPath Test Suite to develop overseas accounting system, enabling enterprise-wise automation.

Improved business process standardization and enhanced risk management
Trust banking is very complex and often not covered in manuals. To support the complex business processes, the bank uses UiPath Process Mining, an automation discovery tool, that analyses and tracks these unique business processes, and simplifies compliance requirements. The tool delivers end-to-end visualization of business processes for each user, enabling the bank to identify bottlenecks, risks, and other workflow inefficiencies, zoom in on opportunities to optimize processes, and enhance risk management.

Swift collection of survey results
Having shifted towards online seminars during the COVID-19 pandemic, the bank needed a swifter method of collecting survey responses after each seminar. With UiPath, the bank is automating the collection and dissemination of large quantities of survey results to the relevant departments, reducing time taken from five hours to just 30 minutes.

Looking ahead, Sumitomo Mitsui Trust Bank plans to further leverage the power of automation for targeted distribution of marketing materials and proposals to customers. In doing so, the bank hopes to establish a single integrated process for data acquisition, formatting, processing, accumulation, and analysis, utilizing artificial intelligence and business intelligence technologies.

About UiPath
UiPath has a vision to deliver the Fully Automated Enterprise™, one where companies use automation to unlock their greatest potential. UiPath offers an end-to-end platform for automation, combining the leading Robotic Process Automation (RPA) solution with a full suite of capabilities that enable every organization to rapidly scale digital business operations.


To find out more about subscribing to TDV: To see all the video presentations on PT Theory, and economic preparedness: The video SUPER SHEMITAH: Elite's Jubilee Year Plan to Crash World Economy by October 2016: Survive Shemitah free white paper at: The Dollar Vigilante:


To find out more about subscribing to TDV: To see all the video presentations on PT Theory, and economic preparedness: The video SUPER SHEMITAH: Elite's Jubilee Year Plan to Crash World Economy by October 2016: Survive Shemitah free white paper at: The Dollar Vigilante:

Related News


Taulia and Standard Chartered Sign MoU to Advance Working Capital Management Solutions and Strengthen Financial Supply Chains

Taulia and Standard Chartered | September 22, 2022

Taulia, a leading provider of working capital solutions, and Standard Chartered have signed a memorandum of understanding (MoU) to collaborate across a range of working capital finance solutions, with an initial focus on the provision of supply chain finance and dynamic discounting. This marks the first MoU that Taulia has signed with a banking institution, following SAP’s acquisition of Taulia. As part of the agreement, both parties will look to offer supply chain finance and dynamic discounting solutions, enabled by Taulia’s market-leading front-end platform and deeply integrated technology. Combined with the strength of Standard Chartered’s global presence especially in the emerging markets, trade finance expertise and deep client relationships, the collaboration will help clients enhance the resilience and sustainability of their supply chains, by enabling their suppliers to gain access to working capital more efficiently and cost effectively. Through the collaboration, Standard Chartered and Taulia will join forces to extend the reach of their working capital finance solutions across both existing and new client networks, especially multinational companies that require the expertise and support at a global and local level. This will be further strengthened through Taulia’s recent acquisition by SAP, which will unlock further opportunities across SAP’s growing ecosystem to deliver a differentiated experience for buyers and suppliers. “We are proud to announce the signing of the MoU with Standard Chartered and this marks another milestone in Taulia’s journey to grow our bank network and work closely with our partners to deliver working capital solutions for all of our clients, We believe that all CFOs should focus on their cash strategy to ensure growth during these turbulent times and our partnership with Standard Chartered will deliver cash when and where it is needed, especially in emerging markets.” -Thomas Mehlkopf, Head of Working Capital Management CoE at SAP and member of the Taulia Leadership Team Ensuring our clients are managing their working capital efficiently is a key priority in ensuring that their businesses grow sustainably, especially with the complexities and challenges in today’s supply chains, We are excited to work with Taulia to explore new and innovative ways to support our clients’ working capital needs, as well as extending the Bank’s leading sustainable trade expertise into their business network. Taulia’s footprint also complements that of the Bank, offering greater opportunities for us to support companies in the West with their supply chain flows into Asia, Africa and the Middle East,said Kai Fehr, Global Head of Trade & Working Capital, Standard Chartered. About Taulia Taulia is a fintech provider of working capital management solutions headquartered in San Francisco, California. Taulia helps companies access value tied up in their payables, receivables, and inventory. A network of more than 2 million businesses use Taulia’s platform to determine when they want to pay and be paid. Taulia enables its customers to execute their working capital strategies, support their suppliers with early payment, and contribute to building sustainable supply chains. Taulia processes more than $500 billion each year and is trusted by the world’s largest companies, including Airbus, AstraZeneca, and Nissan. In March 2022, Taulia became part of SAP. Taulia operates as an independent company with its own brand in the SAP Group. Standard Chartered We are a leading international banking group, with a presence in 59 of the world’s most dynamic markets, and serving clients in a further 83. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good. Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges.

Read More


Sezzle Announces Integration with Customer Platform Klaviyo

Sezzle and Klaviyo | August 18, 2022

Sezzle, a leader in the Pay in 4 industry, today announced the launch of a new direct integration with Klaviyo. Klaviyo is a leading customer platform that helps over 100,000 paying users maximize revenue, increase repeat sales, and improve retention with personalized emails and SMS. With Sezzle's integration, Klaviyo merchants are able to launch email & SMS campaigns with flexible financing messaging. Even with the ever-evolving landscape of the eCommerce sector, cart abandonment remains one of the biggest battles to be fought by online merchants today. According to Baymard Institute, 69.57% of online shopping carts are abandoned. With this integration, Klaviyo merchants have the ability to offer their customers Sezzle's flexible financing options when they abandon their cart. Sezzle's payment solution opens the door for shoppers to increase their purchasing power and gain financial freedom. "We're excited to launch this integration with a leading player in the alternative payments space, helping our mutual customers strategically target shoppers via email and SMS marketing, Sezzle's purpose-driven approach to payments and mission of financial freedom directly aligns with Klaviyo's vision to empower creators to their own destiny." - Rich Gardner, VP of Global Strategic Partnerships at Klaviyo We are delighted to partner with a leading customer platform and enable its eCommerce customers to bring millions of shoppers fast, easy access to Sezzle, Sezzle's Buy Now, Pay Later is a cutting-edge experience that resonates with all consumers. It is a runaway hit with millennials and Gen Z, in particular, who appreciate that it comes with no interest and no fees if you pay on time,said Paul Paradis, Sezzle President. About Sezzle Inc. Sezzle is a fintech company on a mission to financially empower the next generation. Sezzle's payment platform increases the purchasing power for millions of consumers by offering a suite of financing solutions at online stores and in-store locations. When consumers apply, approval decisions are instant, and their credit scores are not impacted, unless the consumer elects to opt-in to a credit building feature, called Sezzle Up.

Read More


Tassat® successfully completes launch of The Digital Interbank Network™

Tassat Group | October 04, 2022

Tassat Group Inc., the leading provider of private blockchain-based business-to-business (B2B) real-time payments and financial services solutions to banks, announced that The Digital Interbank Network completed over $500 million in real-time transactions among three banks using Tassat-controlled accounts on Saturday, October 1. The groundbreaking launch saw over 400 transactions conducted without failure during an 8-hour period, an average of $1.25 million per transaction, using Tassat-controlled accounts at Cogent Bank, Customers Bank (NYSE: CUBI) and Western Alliance Bank. Tassat’s goal is to establish The Network as a viable platform for participating banks’ B2B customers to execute real-time payments between businesses at different banks. “We exceeded our goal for the launch with over $500 million in transactions, It is exciting to be part of such a historic moment in the banking industry as our blockchain technology solution transforms banking in America." -Kevin R. Greene, Tassat’s Chairman and CEO It has been our long-held view that private permissioned blockchain technology operating entirely within the existing US banking system can deliver all the power of blockchain without the need to discard or replace the trusted U.S. banking system that has served the U.S. and the world for more than 100 years. Tassat’s goal is to work with U.S. banks to modernize the U.S. banking system, not to displace or disintermediate banks. We don’t want to see traditional banks get left behind, added Greene. We would like to thank the banks that we worked with today as well as the dozens of banks who have provided guidance and input over the last nine months. We look forward to making this capability available to every bank and their customers in the U.S., said Greene. First introduced in December 2021, The Network will facilitate secure, instantaneous transactions 24/7/365 between B2B customers of all sizes at member banks and features no Network-imposed limits on transaction sizes or volumes. Operating on a private permissioned blockchain, The Network uses technology developed by Tassat but is designed to serve its U.S. bank members. The Network is distinct from TassatPay®, which is Tassat’s flagship platform that enables real-time transactions between business customers of the same bank. As of October 1, TassatPay has processed more than $600 billion in transactions. Senior officials of the banks participating in the demonstration commented on The Network’s successful execution of over $500 million in transactions: Cogent Bank Being part of The Digital Interbank Network is a clear demonstration of our desire to be a leader in the next generation of the U.S. banking system, We are proud to participate in the development of a platform that will provide our customers speed and security in their financial transactions,said Lee Hanna, CEO, Cogent Bank. Customers Bank Customers Bank is committed to serving commercial customers with scaled blockchain technology and greater ecosystem offerings, We look forward to continuing to work with Tassat in their development of The Network’s capability to serve these institutions more efficiently and with greater safeguards,said Sam Sidhu, President and CEO, Customers Bank. Western Alliance Bank We are pleased to support the development of a platform leveraging innovative blockchain technology, with the potential to expand our suite of services and provide our customers with the speed and convenience of 24/7/365 payments and more, Piloting The Digital Interbank Network is one way we are driving next-generation commercial banking,said Tim Boothe, Chief Operating Officer, Western Alliance Bank. The Network has been advancing towards its commercial launch with the input and guidance from a working group of Special Charter Member Banks: Byline Bank, California Bank of Commerce, Emprise Bank, First Foundation Bank, Lineage Bank, OceanFirst Bank, SouthState Bank and Texas Capital Bank. The Network’s Special Charter Members have been enormously helpful in the development of The Network. We are grateful for their participation to help us get to this momentous launch and look forward to continuing to work closely with them, added Greene. About The Digital Interbank Network The Digital Interbank Network is the world’s first blockchain-based, real-time B2B payments network operating entirely within the existing regulatory framework of the U.S. banking system. The Network’s members include only FDIC-insured banks transacting real-time payments and performing other banking services between commercial customers –24 hours a day, 365 days a year, via a private permissioned blockchain. The Network enables banks to offer a virtually unlimited range of secure, real-time services to their customers, including instantaneous blockchain-based payments, Fedwire integration and Smart Contracts. The Network is a highly secure, private permissioned blockchain-based payment instruction and settlement platform that is accessible only by member banks. About Tassat Group Tassat Group Inc. is a NY-based technology company that is the leading provider of private blockchain-based, real-time solutions for commercial banks including TassatPay, which enables banks to provide their customers with instantaneous, secure, real-time payments 24/7/365. TassatPay has become the most trusted blockchain-based platform for the banking industry and its B2B customers with more than $600 billion in secure, real-time transactions to date. Tassat has added Smart Contracts and Fedwire functionality to make TassatPay a one-stop shop for B2B Payments. Tassat was honored with a 2021 Google Cloud Customer Award for innovation in financial services.

Read More