UOB introduces two new robots to manage processes
United Overseas Bank (UOB) unveiled its first two robots, Amy and Eve, to be assigned to teams supporting its wholesale banking and retail arms.
The artificial intelligence will perform repetitive and time-consuming tasks so that it frees up human workers for more complicated functions.
Amy and Eve are software programmes who were first introduced at UOB three weeks ago. Since then, the bank said they have cut transaction times by more than half.
“What used to take up to 240 seconds, 12 screens and multiple cross-checking for accuracy takes Amy only 40 seconds to complete,” said a company spokesperson.
As for Eve, she reviews credit card applications as part of the Unsecured Loan Processing division.
“Eve has the ability to handle up to 1,800 applications per day and does it 3.5 times faster than others previously assigned this repetitive task,” UOB added.
UOB said that it plans to introduce more robots in the coming months to manage other processes in card operations, cash management, and trade and remittance.