Money & Banking
ICICI Bank deploys 'software robots' to perform banking operations
The country's largest private lender ICICI Bank here on Thursday became the first bank in India to deploy ‘software robots, that emulate human action, in its over 200 business processes, thereby reducing the response time to customers by up to 60 per cent.
 
"The bank is the first in the country and among few, globally, to deploy ‘software robotics' that emulates human actions to automate and perform repetitive, high volume and time consuming business tasks cutting across multiple applications," ICICI Bank said.
 
"We have re-engineered over 200 business processes which are powered by software robots across various functions of the bank. We plan to more than double the software robots to over 500 by end of this fiscal," Chanda Kochhar, MD and CEO, ICICI Bank, said.
 
This initiative marks a milestone in the banking innovation in the Indian banking industry as it joins a select group of overseas organisations which have deployed this unique state-of-the-art robotic technology in such a large way, Kochhar said.
 
The software robots are processing over 10 lakh transactions daily, bringing in operational efficiency, accuracy and a massive reduction in processing time for customer services, she said.
 
Software robots have reduced the response time to customers by up to 60 per cent and increased accuracy to 100 per cent thereby improving the bank's productivity and efficiency, a statement from ICICI Bank said.
 
"With our retail banking growing at over 25 per cent every year, we will be ready to handle larger volumes with the same resources," Kochhar said.
 
"It will also enable our employees to focus on more value-added services while having better work-life balance," she added.
 
ICICI Bank, that has a network of 4,451 branches and 14,073 Automated Teller Machines (ATMs), said it has deployed these software robots across the organisation, including retail banking operations, agri-business, trade and forex, treasury and human resources management among others. 
 
"The bank has implemented the ‘Software Robotics' platform mostly in-house, leveraging recent advancements in artificial intelligence such as facial and voice recognition, natural language processing, machine learning and bots among others," the statement said.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Computers for Senior Citizens
Amar’s mother-in-law, Shalinitai, is very scared of computers. Whenever Amar shows her a mail or asks her to chat with his son who is abroad, Shalinitai reads and talks briefly and then moves away from the room, as if she may catch a virus if she persists! This is normal, acceptable behaviour of all older persons which is, generally, shrugged off with a smile. What is seamless, smooth transition to technology for five-year old kids, works totally in the opposite way for senior citizens.
 
The main reasons for seniors being technology-averse are a lack of knowledge and understanding of the benefits of the medium and also the scare of that he/she may wipe out everything at the touch of a button! The interface itself is unfamiliar; the mouse is a new thing; and, on laptops and mobiles, the font size is really small, making the readability poor. Apart from the physical challenges, identifying the relevance and utility is a big challenge too.
 
Overcoming the physical challenges is simple. Just adjust the font size; almost all elders benefit from at least a slight increase in text size. Control panel options in Windows, and the universal access option in Apple products, allow the size of many system elements to be adjusted. Current versions of Windows and Mac systems have simple magnification capabilities. In addition, ‘zoom’ capabilities are built into many standard applications, such as Microsoft Office programs and most browsers. Providing good lighting also goes a long way in encouraging computer use. Using software tools available online like the ones available at www.eldy.eu or www.pointerware.com also helps in making the interface simple and easy to use.
 
As regards making the use of computers relevant, it is easier. Introducing them to other elders with common interests (food, gardening, painting or even sharing medical histories), getting them to chat online with them and sharing experiences will make the entire process interesting and engrossing. Besides, it will go a long way in ameliorating their own boredom and learning from and teaching to the worldwide community.
 
For Smartphone users, you have something called a Big Launcher. It is minimalist but utilitarian. Install Big Launcher on your phone and enjoy BIG icons and quick shortcuts: you will never need to search anything on your phone again and have the most often used tools at your fingertips! The biggest treat is a really BIG dialler which is so convenient to use.
 
And, finally, there are many games meant especially for senior citizens. One such game is Senior Citizen Escape that helps the granny find the key to allow her son to enter the house! The general trend is that the more elders use computers, the more they are going to get hooked on and the more they will love technology. So, if you start today, be prepared to buy a new, exclusive computer in the next few months!

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COMMENTS

R Varadarajan

8 months ago

Very interesting indeed !!

SRINIVAS SHENOY

9 months ago

What do you think?... Write your comments. Majority of my colleagues who are at the point of retirement often express, that they are not as computer literate, as their younger colleagues generally are. This they admit is
a major dampener in their individual performances.

REPLY

Anil Parikh

In Reply to SRINIVAS SHENOY 8 months ago

even if it takes time and small cost once u learn it will be
excellent way of using time by yourself

Anil Parikh

9 months ago

seniors have vast exposers to varied situation in life.they can be part of this effort bbbbby sharing with all seniors

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