Indian private sector lender Yes Bank has partnered with Silicon Valley-based venture Payjo to launch artificial intelligence led digital initiatives.
The partnership will kick off with the bank launching a Facebook Messenger-based Bot that will complement the bank’s mobile wallet service.
The Yes Pay Bot will also soon be available on Skype, Slack and WhatsApp and will enable users to recharge their mobile and DTH, send-request money and pay utility bills.
The artificial intelligence (AI)-powered Bot will not only carry out financial transactions over a chat but will also answer banking queries and requests in a conversant manner, the bank said.
It will work across multiple channels like web, mobile and IVR. Over time, these bots can also act as personalised banking assistants which can predict customer requirements and offer a personalised panoramic view of spending trends, the bank added.
Yes Bank country head for digital banking Ritesh Pai said: “As a leader in embracing the Digital Banking ecosystem, Yes Bank is glad to partner with Payjo to introduce AI-powered Bots offering financial transactions capabilities to customers in an intuitive manner to improve their banking experience.
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“Given that these ‘humanised’ Bots can act as intelligent assistants, we are also working on various use cases for our employees to enable them with information about the Bank’s policies and new initiatives. Over the next year, we shall also migrate a significant portion of our customer service to this customer-friendly platform,” he added.