Question: Which of the following bank became the first bank in India to deploy ‘software robots, which emulate human action, in its over 200 business processes?
(a) HDFC
(b) ICICI
(c) Oriental Bank
(d) State Bank Of India
Ans: (b)
Related facts:
- On 8 September 2016 country’s largest private lender ICICI Bank became the first bank in India to deploy ‘software robots that emulate human action, in its over 200 business processes.
- The software robots are processing over 10 lakh transactions daily, bringing in operational efficiency, accuracy and a massive reduction in processing time for customer services.
- Software robots have reduced the response time to customers by up to 60 per cent and increased accuracy to 100 per cent thereby improving the bank’s productivity and efficiency.
- There is a plan to more than double the software robots to over 500 by end of this fiscal.
- 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.
Reference:
http://www.icicibank.com/aboutus/article.page?identifier=news-icici-bank-introduces-software-robotics-to-power-banking-operations-20160809103646464
http://www.thehindu.com/business/Industry/icici-bank-deploys-software-robots-to-perform-banking-operations/article9085266.ece
http://economictimes.indiatimes.com/industry/banking/finance/icici-bank-announces-deployment-of-software-robotics-for-business-processes/articleshow/54170008.cms