CIMB Improving Banking Experience with Robotics Process Automation

CIMB’s latest introduction of Robotic Process Automation (RPA) in its banking operations have proved efficient. The bank noted reduced turnaround time, faster processing and improved customer experience.

Implemented in September this year, the RPA enables the automation of selected banking operations covering financial, reconciliation, maintenance, e-banking, audit confirmation and auto checking/reminder follow-ups.  This has contributed to enhanced services by the bank, allowing for faster processing of customers’ transactions and requests, improved quality and accuracy, as well as better productivity and staff efficiency.

Ramesh Narayanaswamy, Group Chief Information & Operations Officer, CIMB Group said, “With RPA taking over tasks such as generating statements, sending reminders to customers, as well as balancing and reconciling transactions, CIMB has enhanced and simplified banking operations to provide our customers with faster and more seamless banking experience, and this is just the beginning. Customers can expect increasingly better banking experience with CIMB as we continue to leverage on RPA further to take on more automatable processes.”

Improvements have been observed by credit card customers, with processes such as changes to credit limit or address completed within a day instead of 48 hours. So far, 47 processes have been automated; in November alone, 9 out of 15 banking processes have shown significant reduction of up to 90% in turnaround time. With the RPA’s ability to process 8000 requests per day efficiently and accurately, it has also improved the bank’s compliance, helping to fulfil regulators’ higher expectations and tighter standards.cimb



Please enter your comment!
Please enter your name here

Latest News

Halal Street UK and Alliance Islamic Bank sign MOU to offer tailored programmes to SMEs

Halal Street UK,  an online store for Malaysian products in the United Kingdom has signed a multi-year Memorandum of Understanding with Alliance...

Shopee and Visa sign five-year strategic partnership to offer MSMEs more digital opportunities

E-commerce platform, Shopee and Visa has announced a five-year regional strategic partnership that will encourage greater participation in Southeast Asia’s digital economy,...

MADX Panel selects IBM Cloud to offer enhanced digital services to Malaysian enterprises

IBM has announced that MADX Panel, the leading Malaysian fintech software solutions company, is implementing IBM Cloud solutions to improve digital services...

AirAsia Digital partners with Google to launch Redbeat Academy

AirAsia Digital, in partnership with Google, has launched the Redbeat Academy as part of their continued digital transformation journey.

Better e-commerce service for higher consumer spending

By Farhan Kamarulzaman, As the usage of e-commerce platforms by Malaysians is on the increase during the Covid-19 period,...

Must read

Unprecedented times with Covid-19, business decision makers prepare for a soft landing and focus on employee retention

By Andrew Seow, Regional General Manager, Rimini Street Southeast Asia and Greater China, The Covid-19 pandemic is attacking health...

Caring for young hearts

By Dr. Marhisham Che Mood, Head of Paediatric and Congenital Heart Centre (PCHC) & Consultant Paediatric Cardiologist, While heart...

PropTech and the pandemic

By Adrian Un, CEO, SkyBridge International Digitisation and PropTech (property technology) have been buzzwords in recent years, but following...

Empower local agility to unlock new business models post-Covid-19

By Scott Hensarling, Senior Client Partner and Tobjorn Karlsson, Senior Client Partner, Korn Ferry, 2020 has challenged many assumptions...