In its efforts to continue pioneering innovative banking solutions,
UAE’s leading financial institution, Mashreq, announced that it is
working with Blue Prism (AIM:PRSM) to increase productivity,
improve customer experiences and deliver new services.
Mashreq selected Blue Prism’s secure, scalable and
easy-to-use Digital Workforce to deliver greater operational
efficiencies, higher accuracy and a massive reduction in processing
time for new and existing customer services. The bank is using Blue
Prism to integrate artificial intelligence (AI) and automate dozens
of mission-critical processes across multiple business functions,
including banking operations, compliance, customer care and their
technology help desk.
“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
Mr. 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 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
percent on manual processes, and reduced customer complaints by 90
percent. In addition, individual branch productivity is up by 60
percent while human worker costs are down by almost 87 percent 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.”
In 2017, Blue Prism was named one of MIT Tech
Review’s 50 Smartest Companies and recognized as the winner of the
2017 UK Tech awards. Over the past year, the company added several
established brands to its roster of clients including AIG, Alberta
Treasury Bureau, Allstate Insurance, Bechtel, Boeing, DeNA, DTE
Energy, Dun & Bradstreet, Ericsson, Fannie Mae, GIC, Honda
Motor Company, Kaiser Permanente, KBL Bank, Maybank, National Grid,
Schroders, Sony Pictures, United Utilities and Walgreens. Blue
Prism also attained the highest customer satisfaction rating of 96
percent in an independent customer survey by Knowledge Capital
Partners (click here to download report). The survey of global Blue
Prism customers highlighted satisfaction for platform adaptability,
scalability, security and employee satisfaction.
About MashreqEstablished in 1967,
Mashreq is the oldest Bank in the UAE with award winning financial
solutions and services. Throughout its 50 years' history, Mashreq
has differentiated itself through innovative financial solutions,
making it possible for its customers to achieve their aspirations.
Today, Mashreq has a significant presence in 11 countries outside
the UAE with 21 overseas branches and offices across Europe, USA,
Asia and Africa.
Mashreq launched its new Vision and Mission
recently, outlining its commitment towards its clients, colleagues
and the community. In line with its new Vision to be the region's
most progressive bank, Mashreq leverages its leadership position in
the banking industry to enable innovative possibilities and
solutions for its customers across Corporate, Retail,
International, Treasury and Islamic Banking. Mashreq is proud to be
the first financial institution in the UAE to be awarded the Gallup
Great Workplace Award for four consecutive years from 2014-2017.
Mashreq also continues to invest in recruiting, training and
developing future generations of UAE National bankers.
About Blue PrismAs the pioneer,
innovator and market leader in Robotic Process Automation (RPA),
Blue Prism delivers the world’s most successful Digital Workforce.
The company’s software robots automate repetitive administrative
tasks while meeting the requirements of the most demanding IT
environments, where security, compliance and scalability are
paramount.
Blue Prism provides a scalable and robust execution
platform for best-of-breed AI and cognitive technologies and has
emerged as the trusted and secure RPA platform of choice for
the Fortune 500. Billions of transactions and hundreds of
millions of hours of work are executed on Blue Prism robots from
renowned companies including Aegon, BNY Mellon, Commerzbank, IBM,
ING, Maersk, Nokia, Nordea, Procter & Gamble, Raiffeisen Bank,
Siemens, Westpac and Zurich. For more information about Blue Prism
(AIM:PRSM), visit www.blueprism.com and follow the company
on LinkedIn and Twitter.
Media ContactAndre FuochiBlue
PrismMobile: +1-469-394-7274andre.fuochi@blueprism.com
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