The award-winning scalable automation platform, AssistEdge is an end-to-end service for building and implementing RPA. It provides integrated software robots to automate any high-touch, repetitive process. Used to modernise customer service, improve business processes and enhance operational productivity, it spans all aspects of automation.
Somnath Menon, Group Chief Operating Officer – Al Ahli Bank of Kuwait, said: “Robotic Process Automation is part of ABK’s digitisation strategy to transition to the next level of innovation and technology in banking.
“ABK has collaborated with EdgeVerve and successfully implemented RPA in key areas of Operations and Information Security. We continue expanding the scope to include other areas to improve efficiency, productivity, security and enhance customer experience.
“The automation journey will enable us to migrate repetitive tasks to the digital workforce and reskill our staff to deliver more value-added activities.”
Atul Soneja, SVP and Global Head – Edge Products and Infosys Nia, said: “AssistEdge has been delivering sustained value to many large enterprises around the world. Known for its security and scalability, AssistEdge has successfully accelerated the large-scale automation led transformation in numerous banks.
“We are excited to work with Al Ahli Bank of Kuwait in their process automation journey, driving cost efficiencies and streamlining its operations. Our relationship with Al Ahli Bank comes at a critical juncture as the industry pivots towards intelligent automation and AssistEdge is well poised to release a series of breakthrough innovations to help our clients embrace cognitive capabilities.”
Venkatramana Gosavi , SVP and Global Head of Client Engagement, Infosys Finacle, said: “Al Ahli Bank of Kuwait has been a front runner in adopting leading edge technologies to accelerate growth and deliver a digital age banking experience to its customers.
“The bank has already achieved a generational leap with the next generation Finacle suite of banking solutions. We are pleased that the bank has chosen EdgeVerve’s AssistEdge to expand its transformation journey and drive scalable automation to enhance customer service and productivity.”
Intelligent CIO Kuwait spoke to Somnath Menon, Group Chief Operating Officer – Al Ahli Bank of Kuwait, to find out more about AssistEdge Robotic Process Automation.
How will AssistEdge Robotic Process Automation allow the bank to modernise its customer service?
ABK believes in simpler banking both for customers and staff. With AssistEdge RPA, one of the immediate benefits to our customers has been salary payment for companies, which would earlier take up to 72 hours, because of the processing time it is now done in under three minutes. This is just one example and the bank now has a large list of processes that are being automated and will hugely benefit our customers.
How will AssistEdge Robotic Process Automation allow the bank to improve its business processes and enhance its operational productivity?
An example of what we have been able to achieve in terms of enhanced productivity is in reconciliation of reports in finance which now takes four minutes instead of four hours, saving half a FTE. A number of such cumbersome, repetitive activities are now being done by robots. The biggest benefit in moving these processes to robots is that it allows the staff to reskill themselves and work on enhancing the capabilities of the robots.
Can you explain how the solution will allow the bank to transition to the next level of innovation and technology in banking?
RPA enables the bank to successfully deliver on the digital strategy by transforming the way work is done, by eliminating inefficiencies and multiple hand-offs and moving to a more structured and faster delivery model.
In addition to RPA, Machine Learning will be used to enable the robots to get smarter and understand the variations in an activity. One of the big advantages of the RPA is that they can be used to run different tasks and are not limited to any time restrictions, enabling the bank to launch new services and products for our customers with minimum delays.
Which key areas of operations and information security has RPA been implemented in?
Apart from salary processing, RPA is being used in various reconciliations, standing instructions, fund transfers and we are working on a number of initiatives in trade finance. The RPA has been very effective in information security for user access enabling and monitoring.Click below to share this article