RMB wins Qorus Reinvention Award 2024

Media Release

11 November

RMB wins Qorus Reinvention Award 2024 for its Digital Twins solution

RMB is proud to announce that it has been honoured with the New Ways of Working award at the prestigious Qorus Reinvention Awards 2024 for its innovative Digital Twins in a Digital World solution. Digital Twins is a groundbreaking Robotic Process Automation (RPA) offering developed by the RMB Robotics Centre of Excellence. The award was presented at a ceremony recently held in Dubai by Qorus, a global non-profit organisation established in 1971 by banks and insurance companies to drive innovation in the financial services sector.

“At RMB, we are dedicated to developing solutions that drive both operational efficiency and exceptional client service. Digital Twins enables us to harness the power of intelligent automation to create a more agile, efficient, and impactful workforce,” said Reshnie Naidoo, Head of RMB’s Robotics Centre of Excellence.

The RMB Digital Twins programme employs advanced digital twins – virtual replicas of real-world products and systems – to drive automation integration that boosts operational efficiency across RMB. It represents a new approach to business process automation that mimics human actions with precision and consistency across applications.

The bank’s Robotics Centre of Excellence orchestrates over 250 digital twins, synchronising a range of technologies including RPA, Optical Character Recognition (OCR), and Generative AI (GenAI), which have improved turnaround times in critical product lines by more than 20%. The system integrates seamlessly within RMB's existing infrastructure, providing a modular and scalable solution that optimises business processes across departments such as Debtor Management, Sales, Finance, and Customer Service.

Leveraging these technologies, the digital twins have helped RMB unlock significant benefits, including freeing up more than 325,000 man-hours annually, processing over half a million transactions a month, reducing processing time by over 80% and reducing errors by 99%.  

“RMB strives to be at the forefront of automation and innovation, setting new standards for efficiency, client experience, and operational flexibility in the financial services industry. This recognition by Qorus underscores our commitment to delivering transformative solutions and reshaping the way we work with technology,” Naidoo concludes.

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