India’s ICICI Bank BSE Begins Using ‘Software Robotics’

Published by , September 12, 2016 2:33 am

(IndiaTimes) India’s leading private sector lender ICICI BankBSE is the Indian bank to use ‘software robotics’. Over 200 software robots are now performing over 10 lakh transactions per day, or 10% of its total transactions. The bank will engage 500 software robots by the end of the year which will help it to automate 20% of its total transactions.
The use of software robots will help the bank cut down its response time by 60% and reduce the time to avail a personal loan on credit card to a mere 4 hours from the earlier 8 hours. The bank’s retail portfolio, which recently crossed Rs 2 lakh crore might be the biggest beneficiary of this latest move.

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