Wells Fargo Innovation Challenge 2022
Automation
www.iborg.us +91 (888) 477-0008
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iBorg Inc. is a new generation company that was established with the purpose of
Product: iBORG
automating processes and testing on Oracle Flexcube and designing bespoke
solutions based on the same.
iBORG - Your Hybrid Automation Buddy
A versatile tool hybrid of Robotic Test and Robotic Process Automation Tool that can be
used by business users, developers, and testers. It is compatible with multiple browsers
and business applications.
Mission Vision Value Proposition
To deliver path-breaking technological Innovate iBORG delivers values by
solutions that empower organizations Disrupt reducing time (by 80%) and
to redefine their future by leading the Redefine increasing efficiency (by 60%) in
automation industry terms of cost (35%)
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Strategic Alignment with Wells Fargo
Resolving Pain Points
• Designed specifically, but not limited to catering to the Banking industry's automation needs
• iBORG resonates with the Wells Fargo's value, People as a Competitive Advantage, by saving
manual efforts of independent testers, removing redundancy in mundane tasks
• Overcomes manual processes for overseeing pay and performance for Wells Fargo's 260,000
employees
• Monitors employee pay and facilitates building a new platform for financial advisers.
• Makes multiple financial transactions with multiple people seamless and easy
Wells Fargo and Automation
• Wells Fargo and Bill.com introduced AP automation for commercial clients in line to
achieve the vision of automating operations.
• iBORG serves as a one-stop hybrid automation solution by combining process, test, and
mobile automation as well.
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Problem
It is a great challenge to perform automation
optimally, even with market-leading tools. All the
automation tools work in silos, thereby requiring
multiple tools to automate a process.
For example, banks are moving to mobile apps. Any
activity done on the mobile app is followed by
transactions on the web platform. To test and check
all these transactions flows, an automation tool is
used for mobile apps and then integrated with
another automation tool that supports web platforms.
The remaining testing activities are then performed
on Windows applications manually.
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Solutions 01
Increases Productivity
By liberating our clients' employees from
monotonous, automatable duties, we enable
them to be more productive and execute
meaningful work.
Pathbreaking product
02
iBORG is a platform-independent
comprehensive software for automating your
business processes and testing operations.
Multitasking bot
03
It acts as an assistant to a manager and can
perform varied tasks on any device by
communicating through email, WhatsApp
and text messages.
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Solutions 04
Automate muliple processes
It helps businesses to automate their
processes be it automating the test scripts for
QA or booking the flight tickets for the
customers.
Packaged solution
05
It is an all-in-one cost-effective, high
efficiency, and reliable solution that boosts
productivity.
AI and ML features
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One-stop automation tool for all processes by
seamlessly integrating with various
applications.
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Key Features
SCHEDULING WEB AUTOMATION
iBORG allows the user to execute any of the tasks Web Automation permits the user to automate/test the web
automatically based on their chosen time frame for “n” number applications. It is an integrated recorder that can read and ratify web-
of times at regular intervals. Users can make selections for based activities. It can also identify web elements by their features and
specific days and times whether it is daily, weekly, monthly, or can accurately manipulate them by keeping up with the web changes.
even arbitrarily routine. The best part of iBORG is, that it works in almost all browsers and
devices.
ENCRYPTION
MOBILE AUTOMATION
iBORG helps to protect private information, and sensitive data
and can enhance the security of clients’ applications and iBORG enables the user to automate/test the mobile applications. They
servers. It can process through the users’ credentials and are more advanced and productive through the use of RPA. Test case
encodes, to keep it hidden from inaccessible and unauthorized automates input from spreadsheets, databases, and web services and
users. calls external sources through APIs and HTTP requests, and uses the
results live.
AI AND ML AUTOMATION
DESKTOP APPLICATION AUTOMATION
iBORG has the capability to apply Artificial Intelligence and
Machine Learning. AI is data-driven and ML involves thinking iBORG automates the routine and unattended back-office operations
and learning processes based on the data gathered. AI/ML has that require human intervention. It examines the functionality, security,
the ability to gather insights from semi-structured and usability, and stability of the app.
unstructured data in text and scanned documents and PDFs. 7
Benefits
Growth Strategy
Customer
Customer Acquisition
Customer
Acquisition
Acquisition
Customer Customer
Lifetime Value network
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Customer Customer Lifetime Customer Network
Acquisition Value
• Increase awareness • Reduce churn rate through • Nurture customers
through marketing a user-friendly interface through iBORG chatbot
campaigns, conferences, and regular customer and community forum.
and trade shows. feedback. • Utilize customer network
• Facilitate evaluati on for • Upsell through introducing for growth by introducing
customers through live customized pricing and referral programs and
demo and technical selling add-ons to existing other promoti ons.
support. customers.
• Streamline purchases • Cross-sell iBORG to
through verified and existing customers of
secure payment systems. Ambassador Banking.
• Simplify onboarding
through the purchase of a
subscription on iBORG
website.
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Tracking Metrics
To achieve the planned growth trajectory the below-mentioned KPIs have been set up:
• CSAT & NPS Score: iBORG targets and strives to achieve NPS scores in the range of 8-10. with utmost
customer satisfaction who would promote iBORG and help us achieve the growth.
• ARR: The Annual revenue growth rate forecasts to be at a growth rate of 178% in revenues for the first
year, 100% for the second, and 71% for the third.
• ARPU: iBORG plans to deliver long-term value to profit for both the company and customers as well. With
a projected 450 users an ARPU of $200 is targeted per month (Min price being $100 and Max of $300) for
the first year.
• CAC: LTV Ratio: To optimize the customer acquisition cost, iBORG plans to align with the ideal 1:4 ratio
of CAC: LTV.
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Alignment with Multi-X Factors
Challenge Opportunity Areas Strategic Opportunity Areas
Workforce Need for Digitization
A fresh approach to work- According to Gartner, it is reported that 90 %
Automate mundane tasks, saves time, of the large companies in 2022 will have some
improve productivity, increased accuracy form of RPA in their portfolios of products
Channels Growth of RPA industry
No boundaries with seamless integration- It is also expected that the RPA industry is
Automation is possible in every expected to grow at double-digit rates till
environment, industry, or task in web, 2024 and big scale organizations would have
process, and test automation tripled their Robotic Process
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Business Model Canvas
Key Partners Key Activities Value Propositions Customer Customer Segments
Relationships
• Investors • Robotic Process • Fully Automated • Traditional Banks
• IT Communities Automation Business • Customer Support • Financial Institutions
• Banking Communities • Robotic Test • Reliable Robust • Job Aids • Insurance Companies
• IaaS, PaaS providers Automation Solution • Healthcare Institutions
• Robotic Mobile • Multitasking Robot
Automation • Reduced Risk and
Complexity
Key Resources • Time and Cost Channels
• Code Base Conservation • Word of Mouth
• Developers • Prompt and Consistent • Conferences
• Marketing Team Solution • Trade Shows
• Sales Team • Website
• Website • Email
• Social Media
Cost Structure Revenue Streams
• Product Development and Testing Expenses • Subscription Model
• General and Administrative Costs • Upselling
• Marketing and Sales Expenses • Cross-selling
• Customer Acquisition Costs • Customer Service
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Competitive Analysis
Parameters
Our competitive
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automation tools
work in Silos
Accuracy Accuracy in Desktop, web Reasonable Accuracy Built for BPO Nearly 100% accuracy
and Citrix Automation
Organisations have to
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depend on multiple
tools to address
process and test
Reliability Very High High Moderate High automation
iBORG can perform
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all automation
Features Gives cloud support, Intelligent Automation, Debugging, Collaboration, Encryption, Insights, No activities on Windows
Execution Insights, Insights, Encryption Easy Code Quality coding prerequisite,
Adaptable & resilient supports across platforms applications, web
browser applications,
and mobile
applications
Pros Rapid Execution Speed, User friendly, offers all No programming Supports all process, test
Platform independent capabilities prerequisite, drag & drop and mobile automation, iBORG provides easy
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feature makes it easy and Quick test-case writing integration across
quick environments, and
reduces test case
writing time
significantly
Cons Expensive, Complex, Limited scalability Limited functionality of Not compatible with iOS
require high resource coding & Mac
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Market Opportunities
$13.39 B
$8.33 B
$4.41 B
$1.23 B
The RPA market is predicted to grow by 24.23% 2020-2030 2020 2023 2026 2030
CAGR, to reach a size of $13.39 Bn by 2030.
Source: https://transformainsights.com/info/statista
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Why Now?
(Growth Drivers)
Projected Financial and
• Increasing adoption of advanced
Market Insights
technologies to surge demand for RPA
solutions.
Year Revenue(Projected based on Industry
average)
• The rising number of COVID-19 cases In our analysis, we look at the
increases the demand for RPA in the latest year of financials (YTD)
2022 $500,000 plus the next three years of
healthcare sector.
forecasted revenues. From
these, we can study the annual
• The BFSI segment holds the largest share revenue growth coefficients
2023 $1,000,000
in the RPA market. According to research, for the upcoming 3 years.
RPA in the banking sector is estimated to
reach $1.12 billion by 2025. 2024 $5,000,000
• RPA is widely used in the BFSI sector to
2025 $15,000,000
organize and automate time-consuming
banking activities. RPA has substantially
According to Grand
sped up a range of back-office procedures 2026 $30,000,000 View Research, the
that previously slowed down the bank market is predicted to
employees. grow by 24.23% 2020-
2027 $50,000,000 2030 CAGR, to reach a
size of $13.39bn by
2030.
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Innovation and Funding
Patent: iBORG is the first-ever hybrid automation tool to support
mobile, web, and process automation across various environments.
We are in the process of filing a patent for our product.
Funding: The company is entirely bootstrapped. It is currently a seed-
stage startup.
Revenue: The company has 2 paying customer for the last 6 months.
Stage of product development: The system is ready for production use,
and a couple of clients are already using the system.
Level of maturity: The company falls under level two of the Capability
Maturity Model (CMM) where the work is planned and tracked.
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Security and Risk Management Policies
Security has been given priority throughout the development phase. The ASM model depicts that the security
maturity of iBORG falls under the "Security as a Core Business Product" phase.
• Encryption: iBORG employs AEC in CBC mode with a 128-bit key for encryption and reduces the threat of
password leaks.
• Sandbox: The sandbox safeguards the bank's Core Banking System (CBS) while simultaneously providing
a CBS-like interface for scalable product testing.
• Two-step authentication: iBORG uses HMAC with SHA256 for two-step authentication to prevent
unauthorized people from accessing the tool.
• Data stored in excel/JSON instead of servers: Data will be stored on a local database rather than a centralized
server to prevent the risk of hacking.
• Predefined checks while running the scripts: iBORG uses checkpoints to alert the user if there is a mismatch
while executing the scripts.
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Use Cases of iBORG
Regression Testing in Oracle Flexcube
In this video, we have shown the use case for regression testing in Oracle
Flexcube using iBORG. iBORG can automate even the complex test scripts
of Oracle Flexcube in 15-20 mins. And can also support scripts from
different applications.
Link: Demo Video for Regression Testing Automation
Completion of EOD tasks in Oracle Flexcube
Mundane tasks including daily EOD tasks can be automated using iBORG. In the
video below we have shown the automated use case of an EOD task in Oracle
Flexcube.
Link: Demo Video for EOD Tasks Automation
Payroll Processing using iBORG
This video shows the capabilities of iBORG to interact with various
stakeholders for payroll processing. Payroll processing can even start by
sending an email and the demo can be seen in the below video.
Link: Demo Video for Payroll Process Automation
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Super
Team
CEO - Nageswara Rao Korlepara
Chief Architect - Piyush Merchant
Product Manager - Aayush Churiwal
Development Head - Syed Maqsood
Development Engineer - Pruthvi Y
Automation Engineer - Jeevan Patil
Thank You
Solutions you can bank on!
We would like to thank Wells Fargo for this opportunity
2055 Limestone Rd STE 200-C, Wilmington, DE, NewCastle, US, 19808
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