Business

World’s First Bank Entirely Run By Robots Opens Up In China

World’s First Bank Entirely Run By Robots Opens Up In China

China’s second-largest lender by assets, China Construction Bank (CCB), has opened a Shanghai branch run entirely by robots that greet customers and manage accounts, Mirror reported.

The bank doesn’t just utilize robots; it’s packed full with new technology including virtual reality, artificial intelligence and facial recognition.

According to the South China Morning Post, as soon as customers walk through the front door they are met by a robot that asks and answers questions using voice recognition.

The financial institution in Jiujiang Road in Huangpu district is equipped with several smart automated tellers capable of a range of services including opening an account, money transfer, foreign exchange, gold investment and the issue of wealth management products.

The bank states that the new setup will be able to handle 90 percent of the cash and non-cash demands of traditional banking outlets.

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