RMBL boosts efficiency with AI & Appian platform overhaul

RMBL Investments has partnered with Appian and Persistent Systems to implement an artificial intelligence (AI) and Intelligent Document Processing (IDP) platform aimed at improving document processing accuracy and compliance.

The mortgage investment firm, with assets under management totalling more than AUD $2.25 billion, sought to address inefficiencies in the storage and retrieval of investment consent agreements, which had previously required manual categorisation of scanned documents.

The adoption of the Appian Platform, implemented with the support of Persistent, has increased document processing accuracy to over 95%, providing a more streamlined compliance process and enabling efficient document access for future needs.

As a result of these changes, RMBL reports a reduction in client inquiries by more than 23% and savings of 35 staff hours per week. The technology has also facilitated the creation of client and borrower portals, making it possible for clients to manage portfolios online and for staff to administer accounts via a unified digital workspace.

Due to the early positive outcomes, RMBL has expanded the use of the Appian Platform to introducer clients, highlighting its adaptability within their operations.

James Barnard, Product Owner at RMBL, said, "Our move towards digital solutions was driven by a vision to boost efficiency and improve customer interactions. Manual processes were increasingly challenging and counterproductive – we knew we needed a change."

"Since adopting Appian, we've witnessed significant progress in digitising customer journeys, leading to a more seamless and responsive experience."

Alongside the core platform, RMBL introduced an Appian Portal developed by Persistent, enabling clients and employees to access resources via web and mobile devices. The unified portal supports clients in managing and updating their accounts while allowing employees to oversee client profiles and investments within the same environment. RMBL noted that digital process orchestration has helped streamline application lifecycles and speed up approval timelines.

The initiative is also aimed at engaging new clients by providing an external Appian portal to encourage broader interaction.

Barnard added, "By using Appian's unified interface to automatically process and file client documentation, we've managed to address numerous operational concerns quite seamlessly. Additionally, Appian AI Skills have been extremely valuable in smart sorting of legacy portfolio documents."

RMBL's digital transformation has also targeted several internal and external challenges, such as managing high volumes of queries from clients via multiple channels. The new system aims to improve portfolio transparency through real-time insights while simplifying application processes and standardising operational workflows.

Centralising activities on the Appian Platform has contributed to more effective internal communications and team productivity.

Luke Thomas, Vice President of Asia Pacific & Japan at Appian, commented on the efficiency gains, saying, "RMBL's efficient management of third-party database load using Appian's Data Fabric is a prime example of how our platform can optimise complex data scenarios. This innovation ensures optimal performance in data management."

RMBL reports that the updated technology has also led to a reduction in client support calls, with only 6% of users requesting assistance in the week following the rollout. This indicates improvements in the accessibility and user-friendliness of the new digital platform, enabling clients to manage their portfolios independently and remotely.

Sankaran Saminathan, Senior Vice President – Sales and Australia Centre Head at Persistent, stated, "At Persistent, we're proud to support RMBL in its strategic shift toward digital-first client engagement. This new client-facing platform represents a significant advancement in RMBL's client interactions, empowering clients with enhanced independence and accessibility for managing their investments."

"By incorporating next-generation GenAI elements, we've not only significantly reduced support demands but also enabled RMBL's team to focus on addressing more complex challenges, elevating their overall service quality."

RMBL is continuing with its digitisation initiatives, using Appian's external portal to improve new client journeys, and anticipates further efficiencies through the adoption of Appian Case Management Studio to enhance order management and lower the volume of communications between clients and teams.

Luke Thomas said, "Appian is designed to accelerate the creation of high-impact business applications."

"Seeing RMBL's success in leveraging our technology to meet and exceed its strategic goals has been rewarding. Their ability to quickly adopt and expand their use of our platform is a testament to both their vision and our platform's flexibility."

"It's no surprise that RMBL was recognised as a winner for APAC at the 2024 Appian Innovation Awards. They're truly deserving of this recognition – their innovative work perfectly embodies what these awards are all about."

Barnard added, "The digital transformation at RMBL is not just about adopting new technology but also fundamentally improving how we serve our clients and operate internally."

"Our partnership with Appian has enabled us to achieve these goals and set new standards for efficiency and client engagement."