Axis Bank, the third largest private bank of India, has partnered with Singapore-based Fintech platform to launch intelligent ‘Banking Chat Bots’ for more personalised customer experience on the mobile platform.
The chat bots will bring mobile banking services to the bank’s customers in the form of a conversational interface.
This partnership with Active Intelligence Pte (Active.ai) will enable users to chat through the bank’s mobile banking app and messaging platforms like Facebook Messenger, Axis Bank said in a statement.
Explaining this new venture, Rajiv Anand, Executive Director (Retail Banking), Axis Bank, said, “We are enabling new digital technologies to make it easy and simpler for customers to engage with us.”
“Repeat value of transactions, large number of customers and daily usage on these platforms make a compelling reason for the bank to be one of the early adopters of conversational banking in the BFSI (Banking, Financial services and Insurance) space,” he added.
The new service utilises artificial intelligence to help financial institutions develop personalised and contextual interaction solutions which can be used by consumers through the web, mobile, social and messaging channels.