Amy and Eve, the two robots, have helped reduce transaction time by 50 per cent in the wholesale banking and retail businesses.
The advancement in technology is changing the way businesses operate today. One such advanced technology product is robots. Robots are increasingly being used to do work, which humans have been doing for decades. Some of the repetitive and time-consuming jobs are being assigned to the robots so that human talent can be used more productively.
United Overseas Bank (UOB) is also experimenting with the use of robots and has introduced two of them to help in its wholesale banking and retail businesses. Two robots named Amy and Eve have been working at the bank for three weeks now and have helped reduce the transaction time by more than half.
The repetitive and time-consuming tasks are now handled by these virtual employees, Amy and Eve. According to the human employees, these robots have helped run the operations of the Bank smoothly.
The repetitive and time-consuming tasks are now handled by these virtual employees, Amy and Eve. According to the human employees, these robots have helped run the operations of the Bank smoothly.
Lim Ann Liat, managing director and head of markets and enterprise technology, group technology and operations, UOB, said: “By introducing robots into our workforce, we can improve our processes using technology, and yet maintain a human touch. This also lifts the load off our people, which in turn, makes their jobs more fulfilling.”
Clearly banks have some jobs which can be replaced by robots. Still, maintaining a human touch in dealing with customers or understanding a context is a challenge for robots, especially in customer service or inquiry.
UOB has plans to use more robots in the coming few months in areas, such as card operations, cash management and trade and remittance.