MUMBAI: Private sector lender Yes BankBSE 0.35 % has partnered with Payjo, an artificial intelligence banking platform based out of Silicon Valley, California to adopt its intelligence products.
The YES Pay Bot will be the first AI-driven Bot for a wallet and will complement the already trusted and popular YES Pay wallet service with over half-a-million users.
Yes Bank is launching its wallet services through a chat-based financial assistant in partnership with Payjo on Facebook Messenger. This will soon be available on other popular social media channels like Skype, Slack and WhatsApp. With widespread use of instant messaging, YES Pay will be an effortless way to recharge mobile and DTH services, send-request money and pay utility bills.
The AI-powered YES Pay Bot not only carries out financial transactions over a friendly chat but also answers banking queries and requests in a conversant manner. The technology enables the bot to give quick, personalized responses and real-time insights on transactions. Further, it works harmoniously across multiple channels like web, mobile and IVR. Over time, AI-powered Bots become more astute and can act as personalised banking assistants which can forecast customer requirements and provide a personalised panoramic view of spending trends.
“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,” said Ritesh Pai, country head, digital banking at Yes Bank.