May 19, 2017 Comments Off on Bank of NY Mellon: Release the Bots! Views: 443 Connect Classroom

Bank of NY Mellon: Release the Bots!

The Bank of New York Mellon Corp has deployed more than 220 “bots,” or automated computer programs, across its businesses over the last 16 months.

The bots are designed to perform “the mind-numbing tasks” like cleaning up typos in transfers, said Doug Shulman, senior executive vice president at BNY Mellon, to Reuters.

Tasks that once took days, like gathering data for requests from auditors, may now be completed in hours. And, the process of underwriting a commercial real estate loan could, potentially, also benefit from that kind of efficiency.

Read More at Reuters

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