Robotics Reduce CIMB's turnaround time for banking tasks by up to 90%
Robotic Process Automation set to enhance customer experience further
Kuala Lumpur: CIMB (“CIMB Group” or “CIMB Bank”) has recently introduced the Robotic Process Automation (RPA) in its banking operations, resulting in reduced turnaround time, faster processing and improved customer experience. The RPA is yet another milestone for CIMB in using technology to provide a seamless, enhanced digital banking experience for its customers.
The RPA, implemented in September 2017, enables the automation of selected banking operations covering financial, reconciliation, maintenance, e-banking, audit confirmation and auto checking/reminder follow-ups. This has enhanced its services through faster processing of customers’ transactions and requests, improved quality and accuracy, as well as better productivity and staff efficiency.
Ramesh Narayanaswamy, Group Chief Information & Operations Officer, CIMB Group said, "With RPA taking over tasks such as generating statements, sending reminders to customers, as well as balancing and reconciling transactions, CIMB has enhanced and simplified banking operations to provide our customers with faster and more seamless banking experience, and this is just the beginning. Customers can expect increasingly better banking experience with CIMB as we continue to leverage on RPA further to take on more automatable processes."
So far, 47 processes have been automated, with vast improvements in turnaround time in processing requests by credit card customers such as changes to credit limit or address, which could now be completed within a day instead of 48 hours. In November alone, thanks to RPA, 9 out of 15 banking processes have shown significant reduction of up to 90% in turnaround time. With the RPA’s ability to process 8000 requests per day efficiently and accurately, it has also improved the bank’s compliance, helping to fulfill regulators' higher expectations and tighter standards.