Portfolio Updates
BLUE PRISM RECOGNISED IN TECHNOLOGY AWARDS
5 April 2006
Blue Prism Limited has been awarded Runner-Up in this year’s Financial Sector Technology Awards in the Best Use of IT in Retail Banking category, for their software implementation in the Co-operative Bank.
The award recognises the most effective use of IT in bringing business benefits to a financial services provider in a retail banking environment.
Blue Prism and Co-operative Bank were shortlisted for the Bank’s business process automation project using Blue Prism technology. The scope of the project was to reduce the number of staff engaged in time-consuming, labour intensive processes and to move these staff into customer-facing roles. As a result of the software implementation, the Bank has exceeded its target of a reduction in full time equivalent salaries of 25% and seen a number of other significant benefits since ten of its business processes were automated.
Commenting on their success at the awards, Alastair Bathgate, Managing Director of Blue Prism said, “I’m delighted that the project with the Co-operative Bank has been recognised by the judges in this way – it was a tough category with stiff competition from many other high street banks. The project over delivered in terms of ROI and has clearly demonstrated that you can make staff cost savings and improve customer service at the same time”.