China Construction Bank (CCB) has opened its first branch manned solely by robots.
The branch, located in Jiujiang Road Shanghai has no tellers or managers but is packed full of the latest in AI including facial recognition, speech recognition and virtual reality.
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Intelligent robots guide customers into different service areas to complete their banking transactions.
According to CCB, the revolutionary changes offered by reduced expenditure on branch staffing will allow what it terms “a moderate reduction in interest rates for loans and increases in deposit interest rates.”
Self service tellers offer a range of services including account opening, money transfers and foreign exchange.
CCB says that its unmanned branches will be able to handle around 90% of the cash and non-cash demands of traditional branches.
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By GlobalData
