ICICI Bank, has reduced the response time to customers by up to 60 per cent and increased accuracy to 100 per cent with the deployment of software robots.
ICICI Bank, has reduced the response time to customers by up to 60 per cent and increased accuracy to 100 per cent with the deployment of software robots.
The bank on Thursday said it has deployed Software Robotics’ in over 200 business processes across various functions of the bank, which has sharply improved its productivity and efficiency.
The software robots now perform over 10 lakh banking transactions every working day.
The bank is the first in the country and among few globally, to deploy ‘Software Robotics’ that emulates human actions to automate and perform repetitive, high volume and time consuming business tasks cutting across multiple applications. These include retail banking operations, agri-business, trade and forex, treasury and HR management among others.
Ms Chanda Kochhar, MD & CEO, ICICI Bank, said the bank “has created new paradigms in the financial services industry by taking the lead in introducing path-breaking innovations including internet banking, mobile banking, Tab banking, Touch Banking branches and banking on social media.
“This initiative marks a milestone in the banking innovation in the Indian banking industry as it joins a select group of overseas organisations which have deployed this unique state-of-the-art robotic technology in such a large way,” she said.
The bank has leveraged recent advancements in artificial intelligence such as facial and voice recognition, natural language processing, machine learning and bots among others and implemented the ‘Software Robotics’ platform mostly in-house.
