ICICI’s Chatbot is the latest rollout from the bank which engages with customers. This initiative aims to emulate human actions to automate and perform repetitive, high volume and time consuming business tasks cutting across multiple applications. At ICICI Bank, software robots have reduced the response time to customers by up to 60% and increased accuracy to 100% thereby sharply improving the bank’s productivity and efficiency. The software robots now perform over 10 lakh banking transactions every working day.
ICICI Bank has deployed these software robots in over 200 business process functions across the organisation including retail banking operations, agri-business, trade & forex, treasury. The bank has implemented the ‘Software Robotics’ platform mostly in-house, leveraging recent advancements in artificial intelligence such as facial and voice recognition, natural language processing, machine learning and bots among others.
The software robots at ICICI Bank are configured to capture and interpret information from systems, recognize 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.
These are used extensively by ICICI Touch Banking Branches which are aimed at providing simple, effortless and convenient banking round-the-clock. They are open 24x7 and are one-stop shops for all banking transactions. Customers can transact on their own, at a time of their convenience, with the help of various automated devices and kiosks such as cheque deposit machine, a cash deposit machine with instant credit facility, an interactive kiosk through which internet banking services can be accessed easily by just swiping a debit card and 24-hour video conferencing with ICICI Bank’s customer care personnel.