Al-Rajhi Bank started using “Robotic” technology to automat its banking operations activities , as the first bank in the Kingdom to use this technique. This step comes after the large increase in the number of the bank’s banking transactions, which motivated the bank to search for a new technique for better efficiency.
Robotic Process Automation (RPA) is a technique that automat operations, which the bank deals with on daily basis and it’s repetitive.
Waleed AL-Mogbel, the COO of Al-Rajhi Bank said “Using this technology will help the bank to execute thousands of banking operations, which is daily executed manually in a faster way with more efficiency and without any human intervention. He said this step will be followed with more steps to double the number of this Robotic software by the end of this year, which means more efficiency in executed banking transactions and improve customer’s experience.
Al-Rajhi Bank has started in September, 2016 by launching one banking transaction, and now Robotic Process Automation is used in more than 60 banking operations to accomplish multiple tasks including retail credit operations, customers care and banking operations.
The Robotic Software process more than 15,000 banking transactions on a daily basis, which led to reduce the time in customer service processes.
Robotic software also reduced the response time to customers’ requests and increased accuracy, which led to an improvement in the bank productivity and efficiency. It also helps the operation team to use its human resources to focus on operations with added value and customers related tasks.
As an example Robotic can analysis fraud operations and solve issues which are facing customers frequently on daily basis such as blocking transactions or blocking ATM cards for operations abroad. Using Robotic to protect customers through immediate diagnosis for 24 hours a day and 7 days a week; Al-Rajhi Bank reduced potential fraud cases for ATM cards and credit cards by 70%.