VTB Bank has launched a ‘robot factory’.It will take about two to three months, and by 2021 it is planned to introduce 60 digital employees, and by the end of 2022, 250 digital employees.
The robots will reduce the share of routine operations, including document processing and data entry, and reduce the cost of processes of each corresponding stage by 3-4 times as well as speed them up.
“Robotization is an important part of VTB’s digital transformation strategy. Ultimately, all of our projects are aimed at improving the quality of services for customers. The robotization program in its operating function will allow customers to increase the speed of processes, including, for example, working with credit applications. We will also identify suboptimal processes, improve them, optimize costs and reduce operational risks, ” said Vadim Kulik, Deputy President and Chairman of the VTB Management Board.
During the pandemic, VTB implemented a robot for processing and verifying data on applications for preferential loans at 2% per annum to small and medium-sized businesses under the state employment support program in a record time of three weeks. The robot reduced the processing time of applications by almost five times, processing up to 1,500 applications per day and giving businesses the vital financial support needed in the current circumstances.
