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VTB Bank launches “robot factory”

July 21, 2020 at 10:30AM

Russia’s VTB Bank has launched a project to create and implement robots in customer support processes.

The bank’s employees will identify which processes can and need to be automated. They will also look to introduce digital assistants into the operation.

VTB claims that the new robots will reduce the share of routine operations, including document processing and data entry.

Robot hand symbolising VTB Bank's robot plans

It plans to introduce 60 digital employees by 2021, and 250 digital employees by the end of 2022.

It also adds that the robots will reduce the cost of processes of each corresponding stage by three-to-four times as well as speed them up.

The introduction of the robot will take about two-to-three months.

It plans to introduce 60 digital employees by 2021, and 250 digital employees by the end of 2022.

The implementation of the project will involve employees of the customer services department receiving the required training for the rapid development and implementation of robotic process automation (RPA) robots.

Currently, more than 15 employees within the department are being trained.

“Robotisation is an important part of VTB’s digital transformation strategy,” says Vadim Kulik, deputy president and chairman of the VTB management board.

“The robotisation programme in its operating function will allow customers to increase the speed of processes, including, for example, working with credit applications. We will also identify suboptimal processes, improve them, optimise costs and reduce operational risks,” adds Kulik.

During the pandemic, VTB has been implementing a robot for processing and verifying data on applications for preferential loans at 2% per annum to small and medium-sized businesses under the state employment support program.

The bank claims that the robot “reduced the processing time of applications by almost five times”, processing up to 1,500 applications per day.

Russia’s VTB opens third round of start-up accelerator

via FinTech Futures – https://bit.ly/2OI6qDL

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