Deutsche Bank's corporate bank in China has unveiled its new customer-facing digital employee, Blu Bot Yi, charged with handling client's financial reports.
The bot is responsible for delivering real-time customised transaction reports and cash pooling reports, and for processing direct client enquiries. It has already been trialed successfully with two of the bank's corporate customers in China.
Developed within Deutsche Bank’s Blue Water Fintech Space in Shanghai, Blue Bot ‘Yi’ performs its duties based on robotic process automation (RPA) combined with semantic recognition and AI technology to automatically complete the collection and distribution of customised information.
Dirk Lubig, China head of global transaction banking at Deutsche Bank, says: “The Blue Water Fintech Space in China is our incubator to further optimize the automation of cash management services for our clients. Blue Bot ‘Yi’’s performance is encouraging, based on the very positive feedback we received from our clients and this is only the first step. We want to expand our digital and AI driven solutions and service offerings in China, one of the world’s leading countries for innovation.
Named after its creator Zhu Yi, head of China innovation and fintech products in the corporate bank, the bot has been allocated an employee number and has a dedicated working email address.
Alvin Ho, head of corporate cash management for China at Deutsche Bank, comments: “We aim to empower our clients’ Treasury teams to handle increasing amount of documents and data while eliminating human-related errors, reducing repetitive tasks and significantly minimizing turnaround time. All these will be made possible via the deployment of Blue Bot ‘Yi’.”