 "South Indian Bank net profit up 45.6%")
Kerala-based lender South Indian Bank (SIB) has won the UiPath Automation Excellence Awards 2021 for best automation under crisis for business continuity.
The company said that the award was bestowed upon the bank for its exceptional use of robotic process automation capabilities under difficult times for solving severe operational constraints, thereby ensuring business continuity.
The UiPath Automation Excellence Awards aim to recognise the changemakers of automation. In the 2021 Edition of the UiPath Automation Excellence Awards, the individuals and organizations across India and South Asia (Sri Lanka, Bangladesh and Nepal), who have solved some of the greatest challenges through transformative automation projects were recognised.
South Indian Bank has been at the forefront of the adoption of robotic process automation with a robust ecosystem in place, with a vision to automate complex and mundane processes. The bank was awarded the UiPath Automation Excellence Award for tackling a situation, strategically using Robotic Process Automation. During the implementation of a critical compliance-related change in the core banking and supporting application, a crisis was averted by successfully automating the end-to-end process within a short span of two days, ensuring compliance and saving costs in purchasing services from external entities.
Commenting on the achievement, Chief Information Officer Sony A said, “We at South Indian Bank firmly believe that automation and innovation are the key levers that will power our organization’s digital journey. As a testimony of our efforts, we have won the 2020 UiPath Automation Excellence Award for reimagining customer journeys using RPA. It gives me immense pleasure that we have continued the momentum and has now been recognised as the winner of the 2021 Automation Awards too. The RPA team played a very crucial role in the project and helped the Bank stay compliant to regulatory norms.”
