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Robotics Businesses The Almighty Buck

Credit Suisse Deploys 20 Robots Within Bank (reuters.com) 38

Credit Suisse has deployed 20 robots within the bank, some of which are helping employees answer basic compliance questions, the Swiss bank's global markets chief executive, Brian Chin, said on Monday. From a report: Chin, speaking at the Milken Institute Global Conference in Beverly Hills, California, said the technology may help reduce the number of calls coming into the bank's compliance call center by as much as 50 percent. The technology works like Amazon's Alexa voice system. While Chin called them robots, it was not clear if they had a physical presence or how exactly employees interacted with them.
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Credit Suisse Deploys 20 Robots Within Bank

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  • Can we agree to call them 'Bank-Bots'?
    • It sounds like they are using the word "robot" to mean a software program that accepts input and produces output. So by that definition a web browser or a video game would also be a "robot".

    • While Chin called them robots, it was not clear if they had a physical presence or how exactly employees interacted with them.

      Can we agree to call them 'Bank-Bots'?

      How about we agree to wait and find out what they are before we debate what to call them?

  • by netsavior ( 627338 ) on Tuesday May 02, 2017 @11:04AM (#54341307)
    There is no faster way to get your initiative funded than to utter the word "Compliance." Well done, IT team, you got your pet robots.
    • Compliance + robots = ED209
    • There is no faster way to get your initiative funded than to utter the word "Compliance." Well done, IT team, you got your pet robots.

      Or they thought they did, until they realized that management just uttered the word "robot" next to the new software tool that was added to the deliverables for the quarter and provisioned to use existing resources.

  • It is just a matter of time...

  • by OYAHHH ( 322809 ) on Tuesday May 02, 2017 @11:19AM (#54341421)

    I give it my card, it gives me cash, and then hands my card back to me.

    It's called an ATM.

    • Help! It's got my tie!
    • by Anonymous Coward

      I gave it my virginity. Then the cops came and arrested me for doing it in public. Would they have been happier if I had taken the machine to my place?

  • To help employees answer basic compliance questions? Maybe a better approach is some basic training on basic compliance.

    • by ark1 ( 873448 )
      This is a way to deflect risk? Have Robots provide by design faulty compliance advice then blame them if you don't meet compliance requirements.
  • is what they used to call them as I recall, where a recording asks you a question or gives you options, and then you enter your choice. How smart does a telephone tree have to be before it qualifies to be called a robot?

    Is a light switch a robot?

  • Whether robots also have quotas and have been programmed to mislead customers into signing up for unnecessary services.
  • by myNameIsNotImportant ( 592769 ) on Tuesday May 02, 2017 @01:05PM (#54342133)

    ...said the technology may help reduce the number of calls coming into the bank's compliance call center by as much as 50 percent.

    That's great and all, but you can reduce the calls by 99.999% if you force the users through a maze of menu options and prompts.

    When our help desk was outsourced to IBM consultants, the metrics were equally impressive. The reality however, is much less so --- most people simply opt not to call now, because the service is so horrible and decidedly unhelpful.
    ...But the call volume metrics say "job well done!".

    • by bjb ( 3050 )

      The reality however, is much less so --- most people simply opt not to call now, because the service is so horrible and decidedly unhelpful. ...But the call volume metrics say "job well done!".

      In banking, however, it isn't the same thing as a typical help desk when it come to compliance. It isn't optional like how someone might call to get a computer or physical product help and after being on hold for a bit decide to give up and just power cycle or otherwise "live with" or lose something (e.g. doing a r

  • There will be no survivors
  • Chin said although technology has allowed Credit Suisse to cut back and middle office staff, headcount has remained flat because the bank has hired a large number of programmers.

    No word on if the same staff were retrained/retained or just replaced.

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