Connect with us
Advertise With Us

BUSINESS

Union Bank To Resolve ATM Dispense Error In 2Hours With RPA Tech

Published

on


As banks strive to comply with the Central Bank of Nigeria (CBN) directive to resolve ATM dispense error within three working days, Union Bank of Nigeria has scored a first as it will begin to resolve the errors within hours from next week.

Using Robotics Process Automation (RPA) specially assigned to the task of sorting and resolving dispense errors, Union Bank said customers will have their funds reverted to their accounts within two hours of a dispense error.

Managing director and chief executive of the bank, Emeka Emuwa speaking at the Union Bank head office said the need to free up work time of staff to be able to attend to customers’ needs was the driving force for the use of RPA.

He said the bank is working to ensure it fulfill its promise of delivering simpler and smarter services to its customers, he said Union Bank has in recent times taken prolific steps at innovation by upgrading its core banking platform to the best in the industry and upgrading its mobile application.

The latest in this endeavour he said is the introduction of the RPA to its back-end office. According to him, the RPA will take over the automation of repetitive back-end processes allowing staff to become more efficient and have more time to engage and focus on customers.

Noting that the bank will be assigning repetitive tasks to the RPA, Emuwa said it will be starting with ATM transactions which has the largest transaction flow. With the automation of the ATM reconciliation process, Emuwa said customers of other banks who do transactions on Union Bank ATMs and experience dispense errors will have the errors corrected in less than two hours.

“We are quite pleased to be the first in the banking industry in Nigeria to introduce robotics into our processes. The provision of simpler, smarter banking services to our valued customers is at the core of our business and Robotics Process Automation helps us achieve this objective by leveraging cutting edge technology and innovative partnerships” the Union Bank MD stated.

On his part, the head of Service and Technology of Union Bank, Nat Udeh, explained that the bank’s adoption of RPA technology is expected to enhance staff productivity, reduce process turnaround time and improve accuracy and compliance. “With the new technology in place, employees are better able to focus on other value adding and customer related functions, significantly improving the overall quality of customer experience, he said.”



Copyright LEADERSHIP.
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from LEADERSHIP Nigeria Newspapers. Contact: [email protected]






Who will win the World Cup Group D showdown between Croatia and Nigeria?

View Results

Loading ... Loading ...


Advertisement

Leave a Reply

Your email address will not be published.

Click to comment

Leave a Reply

Your email address will not be published.

Advertisement

Sign up for our newsletter

Advertisement

Pin It on Pinterest

Share This

Share this post with your friends!