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BANKING TECHNOLOGY | Staff Reporter, Singapore

It's automatic: Robots assist OCBC operations

The two work in the secured lending and finance teams.

OCBC Bank launched two robots in October into its retail banking secured lending (CSL) and finance teams.

It said in an announcement that the robot attached to the CSL team assists with housing loan re-pricing.

The processing time for housing loan re-pricing has been reduced by 97%. The OCBC Bank robot can also process more than 100 re-pricing applications a day.

The robot checks on customers’ eligibility to re-price, recommends appropriate re-pricing options, and drafts the recommendation email for the customer.

Meanwhile, the robot attached to its finance team assists with sales performance reporting.

OCBC said the 120 minutes spent in preparing the report has been reduced to 12 minutes by the robot.

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