ICICI Bank, the country’s largest private sector bank, announced the
deployment of ‘Software Robotics’ in over 200 business processes across
various functions.
ICICI Bank on Thursday Sep 08,2016 said that software robots have reduced the response
time to customers by up to 60 %, and increased accuracy to 100 %, thereby improving productivity and efficiency, besides
enabling employees to focus more on value-added and customer-related
functions.
The software robots now perform over 10 lakh banking transactions each
day across retail banking operations, agri-business, trade and forex,
treasury and human resources management, among others.
Announcing the deployment of ‘Software Robotics’, Chanda Kochhar, MD and
CEO, said: “This initiative marks a milestone in banking innovation in
the Indian banking industry as it joins a select group of overseas
organisations that have deployed this unique robotic technology in such a
large way.”
She added: “Further, with our retail banking growing at over 25 per cent
every year, we will be ready to handle larger volumes with the same
resources. We plan to more than double the software robots to over 500
by the end of this fiscal.”
Kochhar clarified that these robots were being used to make repetitive
processes efficient and this did not mean any loss of jobs at the bank,
adding that the bank will hire a few thousand employees to its headcount
every year, based on the business growth that it plans to achieve.
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