Question

Which is the first Private Sector Bank in India to use Software Robotics?
1. ICICI Bank
2. IDBI Bank
3. Axis Bank
4. Bandhan Bank

Answer 1

Correct Answer - Option 1 : ICICI Bank

The correct answer is ICICI Bank.

• ICICI Bank was one of the first in the country and among a few, globally, to deploy ‘Software Robotics’ that emulates human actions to automate and perform repetitive, high volume and time-consuming business tasks cutting across multiple applications.
• The software robots at ICICI Bank are configured to capture and interpret information from systems, recognise patterns and run business processes across multiple applications to execute activities including data entry and validation, automated formatting, multi-format message creation, text mining, workflow acceleration, reconciliations and currency exchange rate processing among others.
• When it was launched, the bank announced that software robots reduced the response time to customers by up to 60% and increased accuracy to 100% thereby sharply improving the bank’s productivity and efficiency.
• CEO- Sandeep Bakhshi
• Headquarters- Vadodara