EC News DeskAutomation Anywhere, a global vendor in Robotic Process Automation, has announced a collaboration with Arab National Bank to automate back office processes. Established in 1979, Arab National Bank is a Saudi-listed joint stock company that ranks among the 15 largest banks in the Middle East. Headquartered in Riyadh.
With support from Automation Anywhere partner, Orion Valley, ANB has automated 35 manual repetitive business processes within the bank using Automation 360, a cloud native, AI-powered RPA platform. More than 100 software bots now perform tasks within the bank’s operations, compliance, HR, and other departments.
“Automation Anywhere technology is enabling the future of banking, by allowing financial institutions like ours to achieve significant cost savings, whilst providing higher levels of productivity and efficiencies” said Aiedh Al Zahrani, COO, Arab National Bank. “We successfully migrated more than 100 bots onto the Automation 360 platform, with almost zero downtime, thus saving an estimated 40,000 hours of manual work.”
ANB wishes to continue to streamline routine processes, improve quality of work and decrease associated operating costs. Deploying intelligent automation offers a way to meet these objectives.
The automation of banking processes has reduced operating costs for one of the largest banks in the Middle East
ANB plans to continue implementing additional software bots to further streamline Bank processes in order to take advantage of the resulting additional cost efficiencies.
“Today, banks and other financial institutions need to remain competitive but also must meet multiple industry regulations involving extremely time-consuming processes requiring dedicated human resources,” said Milan Sheth, executive vice president, IMEA at Automation Anywhere. “At its core, intelligent automation can automate mundane, repetitive business processes, and allow banks to take control of compliance costs, improve their risk profiles, and refocus their employee efforts towards innovation.”
