Automated processes developed for BBVA asset management division by Robotics Systems SAS

Robotics Systems SAS was founded with a vision to help businesses succeed in their digital transformation journeys. It uses robotic process automation (RPA), which gives businesses the power to assign recurring tasks to software robots, improving productivity and performance.

Founded by Andrés Otero, Jorge Corchuelo and Alberto Castañeda, Robotics Systems SAS ultimately looks to help free up time for clients. The goal is to give their employees the room to focus on more pressing tasks like analysis, rather than repetitive duties. After launching in June 2019, the nature of the business means that it has a lot of opportunity to support different sectors such as health, retail, human resources and financial. The focus on financial services means its technology is a good fit for BBVA.

In Q3 2019, BBVA and Robotics Systems SAS started a proof-of-concept to support the bank’s asset management unit in Colombia, which was refined through a workshop with BBVA’s Open Innovation department. It quickly went live, with the functionality for the proof-of-concept running in Q4. For BBVA, the startup’s knowledge and speed of installation are what stood out. Describing the aim of the collaboration, Castañeda said: “We were tasked with creating an automatic functionality or tool that supports the bank reconciliation process of BBVA accounts – there were 1,524 bank accounts – from our Structured Trust businesses.” The robotic automation process introduced executes complete reconciliation of accounts each day.

As an early stage startup, Castañeda claims Robotics Systems SAS is learning a great deal from collaborating with BBVA. “For us as a company, it has been a great opportunity to show our capabilities and be able to present the BBVA Fiduciaria as one of our clients and a success story. The BBVA Projects area has been a great ally to carry out each of the stages of the project whereby the implementations are achieved in the stipulated time. We have learnt a lot from the level of automation in this type of processes, which we can now capitalise on with experience gained.” Castañeda believes there is great scope for other proof-of-concepts to enhance the robotics and incorporate new functions to enhance business impact.

Misael Fonseca, head of Strategy and Portfolio Management at BBVA Asset Management, S.A Sociedad Fiduciaria, explained collaborating with startups is central to BBVA’s strategy “The startups are allies that have agility and speed when delivering efficient solutions, so we must take advantage of that dynamism for the prompt solution or improvement of productive or operational needs.”

Looking ahead, Fonseca was clear that this is not the end of its partnership with Robotics Systems SAS. “We believe that this is the beginning of a very valuable relationship with a strategic ally that will support us in the transformation of the company’s operational processes.”