NAIROBI, Kenya- In a world where efficiency is king, NCBA Bank has emerged as a pioneer in the banking sector by harnessing the power of Robotics Process Automation (RPA).
As RPA continues to gain traction across various industries, NCBA’s innovative approach through Project ZERO has set a benchmark in banking automation.
RPA has swiftly become a game-changer, particularly in the banking sector. According to a report by Deloitte, 85pc of large enterprises had implemented RPA by 2022, and the market is expected to soar from $5.63 billion in 2023 to a staggering $54.57 billion by 2032.
The allure of RPA lies in its ability to automate mundane tasks, significantly boost productivity, and minimize errors.
For banks, this means lower operational costs and enhanced efficiency. Routine tasks such as data entry, account transactions, and compliance report generation are now seamlessly handled by RPA systems, freeing up human resources for more strategic roles.
NCBA Bank, one of Kenya’s leading financial institutions, has been at the forefront of this transformation with its ambitious Project ZERO.
Launched in 2020, this initiative brought together a team of RPA developers to create and implement solutions tailored to the bank’s specific needs. The results have been nothing short of impressive.
According to NCBA’s 2023 Integrated Report, the implementation of RPA has led to a 70pc increase in the value of time gained and a 33pc reduction in turnaround time (TAT).
The bank has automated 44 key processes, saving a remarkable 91,000 man-hours. This move towards automation has not only optimized operational efficiency but also enhanced the customer experience.
The future of RPA at NCBA looks promising as the bank continues to adapt to changing customer preferences and integrate emerging technologies.
NCBA is also exploring hybrid solutions that combine RPA with artificial intelligence, machine learning, and blockchain.
This approach aims to manage complex tasks and decision-making processes more effectively.
Industry trends also indicate a shift towards cloud-based RPA solutions, which offer high scalability, flexibility, and cost-effectiveness.
NCBA’s digital transformation initiatives are set to further enhance operational efficiency, reduce costs, and improve customer satisfaction.
