This Bank In China Is Managed And Operated By Robots

China has established a bank in Shanghai where everything is run entirely by robots. The robots greet customers and manage their accounts as well. The bank is named as China Construction Bank (CCB). It is equipped with many smart automated tellers which are capable of a range of services which include account opening, money transfer, foreign exchange, gold investment and the issues of wealth management products.

The Shanghai branch of the bank is run purely by technology using virtual reality, artificial intelligence, and facial recognition. These banking robots are humanoids and are able to do most of the things that human assistants can also do. This includes opening accounts, transferring money and making investments. The customers are greeted by the robots which can answer the questions using voice recognition. The bank administration has claimed that this technology in the bank is a site of attraction for customers and also trims the staff costs. The bank says that the new set up will be able to handle 90% cash and non-cash demands of the traditional banking outlets.

For wealthy customers who need the help of a human, a private room is reserved for remote chats with client relationship managers. He Fei, a senior researcher at the Bank of Communications in Shanghai said, “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.”