United Overseas Bank (UOB) has introduced two robots, Amy and Eve, to the bank's corporate and retail units.

Amy has been assigned to the Singapore-based bank's letter of credit (L/C) operations while Eve reviews credit card applications.

Repetitive tasks

Amy and Eve are the bank's first robots and have taken on repetitive and time-consuming tasks.

The two robots have cut the time taken to process a transaction by more than half according to UOB.

L/C processing

Amy helps process requests for L/Cs from corporate customers by extracting a wide range of data that is then entered into an automated system for human approval.

What used to take up to 240 seconds, 12 screens and multiple cross checking for accuracy takes Amy only 40 seconds to complete according to UOB.

More robots

Eve reviews credit card applications and has the ability to handle up to 1,800 applications per day, a work rate 3.5 times faster than her human colleagues.

The bank plans to take onboard more robots in the coming months to manage other processes relating to card operations, cash management and trade and remittance.

This article represents the views of the author and not necessarily those of the ICC or Coastline Solutions.