Tech
Stanbic IBTC Bank deploys robots for operations
Stanbic IBTC Bank said it has deployed robots to drive various dimensions of its operations.
This, according to the bank, was part of its efforts to drive service efficiency and enhance customer experience
In a release on Tuesday, the bank said the robots, called Stanbic IBTC BlueBots, manage middle and back office activities.
“At the operational center at Ilupeju, Lagos, the robots facilitate Account Origination and Servicing for Anti-Money Laundering (AML) transactions and Processing and Clearing for inward cheque confirmation.
“At the Idejo, Lagos office, the Credit Risk Management System robots handle Personal Banking Credit assessments while at the bank’s headquarters in Lagos, the robots are deployed in Global Market Operations (GMO) to manage T-Bills processing,” it said.
According to the release, the Chief Executive of the bank, Demola Sogunle, said given the rapid manner technology is evolving and the disruption this can trigger, it is imperative to tap into such evolving trends and technology to address the changing needs of customers.
He added that the robots were designed and deployed to reduce manual intervention, eliminate errors and reduce cost of processing in reconciliation processes, with reconciliation turnaround time reduced significantly and it was delivered at zero cost.
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“We wanted something new. We wanted to increase speed. We wanted to boost efficiency and accuracy. Constantly raising the bar is a key value for us at Stanbic IBTC and leading the implementation of all the possible applications of Artificial Intelligence (AI) in Nigeria was a good way to raise the bar,” Sogunle added.
Elaborating further, Manager, Business Transformation Programmes, Stanbic IBTC Bank, Wole Adesiyan, attributed the deployments to the ingenuity and creativity of Stanbic IBTC personnel as the feat was a strictly in-house project with support from Standard Bank South Africa, parent company of the Stanbic IBTC Group.
Adesiyan said the robots are equipped with sophisticated security features to ensure round-the-clock performance without breaches.
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