SBI Plans Full AI Shift For Cheque Processing To Transform Operations
SBI plans AI automation for cheque processing.
The State Bank of India (SBI) is expanding the use of artificial intelligence across its operations and plans to shift its entire cheque processing system to AI, SBI Chairman CS Setty said. The move is aimed at improving operational efficiency, reducing manual intervention and allowing employees to focus on higher-value responsibilities.
Speaking at a press briefing after the bank’s quarterly earnings announcement, Setty said SBI is deploying AI extensively in key back-office functions, including fraud prevention, proactive risk management, anti-money laundering (AML) activities and cheque processing. He said these areas involve high-volume operations where automation can improve speed and accuracy.
Setty said cheque processing is among the major functions being transitioned to AI. He explained that automation of this process would reduce the need for manual work and free up employees currently engaged in repetitive tasks, allowing them to take up roles that require greater analysis, decision-making and customer interaction.
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The SBI chairman clarified that the adoption of AI is primarily focused on repetitive, rule-based and high-volume activities rather than replacing customer-facing banking roles. He said the bank’s objective is to enhance operational performance by using technology to support employees and improve service delivery.
The wider use of AI is expected to help SBI strengthen fraud detection, monitor transactions more effectively and speed up routine banking processes. The bank said the technology could improve efficiency for customers, though it has not announced any major changes to branch operations or customer service channels in the near future.
On SBI’s subsidiaries, Setty said there were no immediate plans for stake dilution or fresh listings beyond the entities that are already listed. Responding to queries, he said the bank currently has no plans to dilute its stake in SBI Funds or make changes involving other subsidiaries.
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