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Regional Development Bank
A regional development bank was manually screening, collating and processing candidate data to create a shortlist of eligible candidates. This manual process was slow and inefficient, costing the bank time and money while also impacting the candidate experience and increasing drop-out rate.
An AI-powered workflow modernised the recruitment process, enabling the regional bank to efficiently and accurately evaluate and guide candidates from application to shortlist without human intervention.
With impress.ai, this regional bank delivered a winning candidate experience that saved them both time and money while reducing candidate drop-out and time to hire.
The regional development bank had a legacy, manual recruitment process that no longer served the organisation. Candidate data was managed and distributed via a series of internal spreadsheets, giving the recruitment team limited access to real-time data. The process was slow and inefficient, resulting in increased costs and a significant loss of productivity. In addition, it wasn’t delivering the best candidate experience, contributing to an increase in candidate drop-outs.
The team knew they had to find a way to modernise the hiring process to attract and retain high-potential candidates in a competitive market.
The regional bank partnered with impress.ai to build a modern, AI-powered recruitment workflow to tackle the manual process and align it with the bank’s digital aspirations.
Now, the organisation has a seamless process to collect and collate data, replacing clunky spreadsheets and providing access to a live dashboard to provide updates in real-time. The process automatically parses documents, such as resumes, and scores applications based on role-specific decision criteria to progress the best-fit candidates. The workflow then schedules interviews with these candidates and hands them on to the recruitment experts at the regional bank to come to a final shortlist.
In addition, the solution delivers a seamless, 24/7 candidate experience, equipped with an intelligent chatbot to respond to candidate questions anytime, anywhere. Candidates are also automatically notified of their progress and shortlisting decisions to ensure they are constantly updated and engaged with the process.
This process not only saves the bank significant time and money on their recruitment process but also increases profit by reducing time to fill vacancies. It also removes bias and increases the accuracy of the screening process, ensuring that the regional bank has all the information at hand to make the best possible hiring decisions.
The bank now has a modern, digital candidate experience that saves significant time and money while increasing accuracy in the hiring process.
In just the initial pilot, impress.ai delivered:
Projected savings of SG$39,534,
A 74% reduction in candidate dropout,
A candidate satisfaction rating of 90%+,
A faster, more accurate hiring process.
Download the full case study.
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