Mashreq automates business processes with Blue Prism
UAE bank automates business functions to improve efficiency and productivity
UAE bank Mashreq has signed a deal with robotic process software automation specialist Blue Prism to automate processes to increase productivity, improve customer experiences and deliver new services.
Mashreq has selected Blue Prism's Digital Workforce solution, which will automate dozens of mission-critical processes across multiple business functions, including banking operations, compliance, customer care and technology help desk. The aim is to deliver greater operational efficiencies, higher accuracy and create a massive reduction in processing time for new and existing customer services.
"We are harnessing the power of Robotic Process Automation (RPA) to create customer-centric solutions that can help us deliver on the promise we have made to our customers-to enrich their banking and financial experiences through innovation," said Sandeep Chouhan, Group Head of Operations & Technology at Mashreq Bank. "The efficiencies and improvements enabled by Blue Prism's Digital Workforce Operating System cut across numerous departments and enable us to be more responsive and agile as an organization. After evaluating several RPA offerings, we selected Blue Prism because it was the most scalable, secure and compliant solution available."
As a result of automating many internal tasks and processes, Mashreq Bank says that it has seen more than 150,000 secure and error free transactions executed daily. Mashreq's deployment of Blue Prism has delivered a better issue TAT (Turn Around Time) by 65% on manual processes, and reduced customer complaints by 90%. In addition, individual branch productivity is up by 60% due to the bolstering of human workers with RPA tools that boost productivity.
"Industries like banking, insurance and financial services are ripe for the disruption and digital transformation that RPA brings," said Dr Jing Bing Zhang, Research Director and lead analyst, Worldwide Robotics and Asia Pacific Manufacturing Insights, IDC Asia Pacific. "The level of automation goes beyond streamlining administrative and transactional tasks. Service quality and time to service - how fast you can deliver service to customers - are the dominant drivers in intelligent automation, especially the adoption of RPA technologies."
"We're seeing expanding implementations of our Digital Workforce solution in the financial services sector from organizations looking to disrupt and drive more meaningful customer interactions," said Alastair Bathgate, CEO, Blue Prism. "More companies are harnessing the power of automation to facilitate secure and compliant transactions while also freeing up human capital that can focus on delivering innovative, new services and improving the overall customer experience. We are excited to see a top bank in the UAE embrace RPA and achieve such impressive results with our Digital Workforce Operating System."