RBL Bank selects AWS cloud for its AI driven Digital Transformation

RBL Bank has now chosen Amazon Web Services (AWS) cloud to scale and accelerate its artificial intelligence-powered banking solutions and drive digital transformation at the bank.

RBL Bank Ltd is an Indian commercial bank. The company’s segments include Wholesale Banking, Retail Banking, and some other Banking operations.

Sankarson Banerjee, Chief Information Officer, RBL Bank said, "Our internal AI roadmap is based on building use cases that drive value for customers and our business. Our work with AWS accelerates this journey and enhances our customer engagement. Leveraging the breadth and depth of AWS services allows us to take a major step forward in our AI journey and prepare for the future."

Vaishali Kasture, Head of Enterprise, AISPL, AWS India & South Asia, said, "RBL Bank is driving digital innovation with AWS, and we are delighted to help speed this transformation. By accelerating its Operations, HR, and Risk functions transformation using pre-trained AWS ML models, and driving insights from unstructured data, the Bank is benefiting from the broadest suite of AWS machine learning services to improve customer service, operate more efficiently, and quickly understand its customers' needs across diverse touch points."

The Bank's AI Centre of Excellence created a templatized framework for each use case that was developed on Amazon’s machine learning platform, the SageMaker.

Moreover, RBL Bank will also use Amazon Textract, a machine learning tool that extracts text, data, and handwriting from documents. Textracts will be utilized at RBL bank’s risk and operations divisions to delve deep into the financial statements, audits, and stock statements, notes the announcement.

AWS revealed that RBL will be able to extra and automate the handling of 25000 documents on a quarterly basis using Textract. The bank will also leverage innovative algorithms to replace manual name matching processes.