Sreeram Iyer
COO, International and Institutional Banking and Asia Retail Banking, ANZ Bank
Improving the Customer Experience and Operational Excellence through
Robotic Process Automation
Overview
2
The Financial Services Landscape and Impact Of Robotics 1
The ANZ Experience 2
Lessons Learned and Implications For Building a RPA Roadmap 3
Where To From Here? 4
The Financial Services Landscape and Impact of Robotics
3
The Financial Services Landscape and Impact of Robotics
4
5
Artificial Intelligence
RPA is Just One of Many Digital Trends Impacting Financial Services
Robotic Process Automation
RPA Predictions
The global IT robotic automation market is expected to reach $6.8b by 2020. Mindfields study
Robotics is one of six Innovation Accelerators that will drive digital transformation by opening new revenue streams and changing the way work is performed. International Data Corporation, Feb’16
The World Economic Forum estimates that ~7 million jobs may be lost by 2020, driven in part by robotic automation (~9%). Future Jobs Report, Jan’16
Current robotics adoption in Finance is 4% with future adoption in the next 5 years estimated at 18%. PwC, 2015
While automation will eliminate few occupations entirely in the next decade, it will affect portions of all jobs. McKinsey Quarterly Jul’16
The financial sector has the technical potential to automate up to 43% of workers time McKinsey ‘15
6
The ANZ Experience
7
Why Robotics?
8
RPA for Corporate and Institutional Operations
9
40% of all transactions in all processes use robotics 40%
We are now building ~50 robots every month 50
80% of team leaders have at least one robot operating in their areas 80%
Example RPA Implementations
10
Data Migration • Robotics used to transfer data from application to application reducing manual processing
Trade and Supply Chain Swift Messages • Standard routing rules created with the tool running 24x7 routing messages immediately to designated
queues as per the routing logic with 100% accuracy without any manual intervention
Australia Audits – Audit Certificate Request Automation • Mechanized 80% of the tasks • From 13 to 8 days to complete an audit certificate • Removed the need for utilisation of contract staff to manage the season
Merchants - Fast Pay • Automation of Merchants Letter of offer process, resulting in 100% accuracy
Tracers Function • Robotics now used to investigate customer transactions by checking data in core banking systems and
preparing letters/faxes
Reconciliations • The manual inputs for major accounts have been automated resulting 100% accuracy
Various Retail Processes • Internet banking issuance enabling the customer to receive tokens faster • Automating account opening/closing for same day processing • Automating loan creation/drawdowns, enabling customers to obtain loans faster than ever before • Automation of customer notifications, sms file generation of cards, loans, morgages etc improving TAT
Benefits We Have Seen……
As software robots handle the more repetitive, tedious jobs in a business, employees can participate in more value added activities that involve personal interaction, problem solving and decision making
Process
People
Engaged Employees Empowered Employees
Boost Morale
Tapping Human Skill
Work Life Balance
Happy Employees
Reduction of Overtime
Consistent Service Quality Speed
Consistency
Faster Response
Accuracy
Non Tiring
Expectation
Customer
Non Intrusive
Non Personal
System Load
Low Cost
Scalable 11
Streamlined Process Efficient Process Scalable Process
Process
Lessons Learned
12
Keep it from happening
Let it happen
Help it happen
Make it happen
Lessons Learned
13
Robots and staff want clean data
Role of robot design needs to
be clear
Automating end to end isn’t
always possible
Creating multiple “bots” is better than a single
robot
Automate rules Digitise data inputs
Top down and bottom up approaches
Engage IT early
RPA just one tool for improvement
Ensure risk is managed
Where To From Here?
Is RPA just another TLA?
Future Workforce Impacts
15
REALITY
MYTH
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