Benjamin Azada presents intelligent automation to thrift bankers

April 2018

Benjamin Azada presents intelligent automation to thrift bankers

PwC Philippines Consulting Managing Principal Benjamin Bejasa Azada delivered a talk entitled “The Robots are coming! What intelligent automation can do for thrift banks” for the delegates of the 2018 Chamber of Thrift Banks (CTB) National Convention on 10 April 2018 at the Makati Shangri-La Hotel, Makati City.

The CTB adopted the theme “Banking on Disruptive Technologies”. Keynote speaker, Bangko Sentral ng Pilipinas Governor Nestor Espenilla, Jr., said “to remain competitive and relevant, and to optimize benefits, banks need to understand the trends, identify growth opportunities, and establish synergies with other players, including non-banks.”
Azada, when asked if full-scale RPA will be implemented in Philippine banking, says that it depends on the banking executives, but banks can do it now. Local insurance is doing it now, and is ahead of banking. The process may entail 18-24 months, on a conscious level.

Azada gave a top-level view on intelligent automation. He reports that Robotic Process Automation (RPA), which is now here in the Philippines, can be adopted already and can have a payback period of less than a year. This will then give way to funding the next projects that will involve higher technologies like augmented intelligence.

He explained that intelligent automation is about using new technologies to automate the processes. RPA is the simplest version of automating whatever processing that people are doing now, and banks don’t have to change their existing core banking systems.

Panel reactors to his talk were Ms. Ma. Cristina Go (CTB Secretary/Trustee, and BPI Family Savings Bank President) and Mr. Catalino Abacan (CTB Trustee and City Savings Bank President & CEO).

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