Nigeria’s Union Bank has deployed latest Robotic Process Automation (RPA) technology into its operations in a bid to enhance banking services.
The new technology uses latest software tools to simplify business process delivery.
The software tools called robots can automate repetitive tasks in various business applications without the need to change available infrastructure and systems.
Union Bank expects that the deployment to increase efficiency, enhance data efficiency as well as enable it to address growing challenges in the industry.
The bank’s CEO Emeka Emuwa said: “The provision of simpler, smarter banking services to our valued customers is at the core of our business and RPA helps us achieve this objective by leveraging cutting edge technology and innovative partnerships.”
He also stated that the usage of RPA technology will help to decrease process turnaround time, improve staff efficiency as well as enhance compliance and accuracy.
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Furthermore, it will allow the staff to focus on other customer related functions and value adding services thereby improving overall customer experience.
Furthermore, under the bank’s RPA implementation, all ATM transactions are now automated that reduces processing time by around 60%. It will enable to dispense refunds to the respective customer during ATM disbursing errors effectively.