Robots to perform a fifth of internal jobs at ICICI Bank

Chanda Kochhar, managing director & chief executive officer, ICICI Bank, said by the end of FY17, the bank would more than double the number of transactions cleared by the bots. "Currently, about 10 per cent of our internal transactions are being carried out via the software robots and by the end of this year, we believe, this will go up to 20 per cent of our transactions. This has helped us in improving productivity and efficiency and will help us in handling larger volumes as we continue to grow." The lender started experimenting with software bots at the beginning of this financial year. Now, over a million banking transactions across 200 business processes are carried out by the technology on a daily basis.