Improving the Customer Experience and Operational Excellence through Robotic Process Automation

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1 Improving the Customer Experience and Operational Excellence through Robotic Process Automation Sreeram Iyer COO, International and Institutional Banking and Asia Retail Banking, ANZ Bank

2 Overview 1 The Financial Services Landscape and Impact Of Robotics 2 The ANZ Experience 3 Lessons Learned and Implications For Building a RPA Roadmap 4 Where To From Here? 2

3 The Financial Services Landscape and Impact of Robotics 3

4 The Financial Services Landscape and Impact of Robotics 4

5 RPA is Just One of Many Digital Trends Impacting Financial Services Robotic Process Automation Artificial Intelligence 5

6 RPA Predictions While automation will eliminate few occupations entirely in the next decade, it will affect portions of all jobs. McKinsey Quarterly Jul 16 Robotics is one of six Innovation Accelerators that will drive digital transformation by opening new revenue streams and changing the way work is performed. International Data Corporation, Feb 16 The global IT robotic automation market is expected to reach $6.8b by Mindfields study Current robotics adoption in Finance is 4% with future adoption in the next 5 years estimated at 18%. PwC, 2015 The financial sector has the technical potential to automate up to 43% of workers time McKinsey 15 The World Economic Forum estimates that ~7 million jobs may be lost by 2020, driven in part by robotic automation (~9%). Future Jobs Report, Jan 16 6

7 The ANZ Experience 7

8 Why Robotics? 8

9 RPA for Corporate and Institutional Operations 40% 40% of all transactions in all processes use robotics 80% 80% of team leaders have at least one robot operating in their areas 50 We are now building ~50 robots every month 9

10 Example RPA Implementations Various Retail Processes Internet banking issuance enabling the customer to receive tokens faster Automating account opening/closing for same day processing Automating loan creation/drawdowns, enabling customers to obtain loans faster than ever before Automation of customer notifications, sms file generation of cards, loans, morgages etc improving TAT Australia Audits Audit Certificate Request Automation Mechanized 80% of the tasks From 13 to 8 days to complete an audit certificate Removed the need for utilisation of contract staff to manage the season Tracers Function Robotics now used to investigate customer transactions by checking data in core banking systems and preparing letters/faxes Data Migration Robotics used to transfer data from application to application reducing manual processing Merchants - Fast Pay Automation of Merchants Letter of offer process, resulting in 100% accuracy Trade and Supply Chain Swift Messages Standard routing rules created with the tool running 24x7 routing messages immediately to designated queues as per the routing logic with 100% accuracy without any manual intervention Reconciliations The manual inputs for major accounts have been automated resulting 100% accuracy 10

11 Benefits We Have Seen As software robots handle the more repetitive, tedious jobs in a business, employees can participate in more value added activities that involve personal interaction, problem solving and decision making Customer People Process Consistent Service Quality Speed Engaged Employees Empowered Employees Streamlined Process Efficient Process Scalable Process 11 Consistency Faster Response Accuracy Non Tiring Expectation Boost Morale Tapping Human Skill Work Life Balance Happy Employees Reduction of Overtime Non Intrusive Non Personal System Load Low Cost Scalable

12 Lessons Learned Make it happen Help it happen Let it happen Keep it from happening 12

13 Lessons Learned Robots and staff want clean data Role of robot design needs to be clear Automating end to end isn t always possible Creating multiple bots is better than a single robot Ensure risk is managed Digitise data inputs Automate rules Top down and bottom up approaches RPA just one tool for improvement Engage IT early 13

14 Where To From Here? Is RPA just another TLA?

15 Future Workforce Impacts MYTH REALITY 15