Russia’s VTB turns to automation for customer claims
VTB, Russia’s second largest bank, has begun to use robots to handle its customers’ claims.
The move towards automation will see more than 10% of all requests analysed without the involvement of the bank’s employees in the first stage.
The aim is for VTB to eventually reach 70% automation in its claims operations, to give clients faster responses on the status of their requests.
The automated solution will upload relevant information, statements, and documents for the investigation stage, before analysing the available data in accordance with the specific claim scenario.
It will then offer employees a final decision. If it’s positive, the machine can finalise it, but anything else will be processed manually by an employee.
“We use robots primarily for the routine tasks where it’s important to remove human influence,” says the bank’s customer claims department head, Olga Mamedova. “For us, the main task is a fair assessment of each client’s request.”
FinTech Futures spoke to VTB’s head of transfers Alexey Khranilov last month on its launch of instant international card-to-card (C2C) transfers.
VTB, which has 7.5 million active online banking users, is currently in “a huge digital transformation phase”, according to Khranilov. It wants to “focus on the competition”, which it deems to be Russia’s largest 10-15 banks.
He said all of VTB’s departments have been reorganised into streams such as anti-money laundering (AML), user experience (UX), product development and money transfers, and executive committees have been set up to listen to each of these streams and deliver support to them much more quickly than prior to the restructure.
VTB has also upgraded its digital investment brokerage service and launched an online stock buying offering.
The bank predicts this service will increase the number of VTB clients registered in the Moscow exchange trading system to one million people.