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Technology

China opens world’s first human-less bank

Interacting with humans at banks might soon become an old thing as China has opened world’s first ever human-less b
Published April 30, 2018
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Interacting with humans at banks might soon become an old thing as China has opened world’s first ever human-less bank that only has robots as its employees.

Located in Shanghai, China's second biggest state-owned China Construction Bank (CCB) has opened first of a kind person-less branch. The bank is entirely run by robots and have numerous automated tellers equipped in it that can perform many services including account opening, gold investment, foreign exchange, money transfer and also the issuance of wealth management products.

The bank has smart services and is solely run by technology with artificial intelligence, virtual reality and face recognition. The robot employees can work similar to humans such as transfer money, change currency, open new bank accounts or make investments.

Video Courtesy: Daily Mail

“Robot won’t replace humans,” says Inbenta CEO Jordi Torras

Upon entering the bank, the customers are greeted by the humanoid robots that answer queries with the help of voice recognition and scan their faces using bank’s facial recognition device. Customers can also explore the bank’s rental offering via virtual reality headsets, reported Daily Star.

As per the administration, this venture can handle 90% of the cash and non-cash demands of the normal banking outlets. Also, for customers seeking human help, a separate room has been reserved for remote chats with client relationship manager but through video link.

He Fei, a senior researcher at Bank of Communications in Shanghai, expressed, “Unstaffed services can solve repeated and standard demands from mass clients. But human bankers are still needed to offer professional advice, to serve the complicated and personalized demands, for instance by wealthy clients.”

As per South China Morning Post, the bank management says that this technology is a site of attraction for the tech-savvy customers and can also help cutting down the staff costs. CCB says that this high-tech branch is aimed to make banking more personalized, efficient and convenient.

Copyright Business Recorder, 2018

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