In a Historic move the Pioneer of banking domain in India ICICI bank deployed the Software bots to complete the banking transactions. It is a very big move. These Software robots or bots will complete 10 lakh transactions per day. The initial number of software robots are 200. These robots will take care of 10% of total transactions. Bank is planning to deploy total 500 bots by end of the year which will take care 20% of total transactions.
Using Robots will improve the transaction time. It may impact the jobs for few people. Because these transaction that have been automated might have been done by the humans in past. The bank said the initiative has enabled the bank’s employees to focus more on value-added and customer-related functions.