Federal Bank has implemented Artificial Intelligence (AI) technologies into its services to improve the client experience and convenience. It is the first bank in India to employ Google’s Generative AI Platform to improve search capabilities on its corporate website. The improved search functionality will produce precise results. Furthermore, the utilisation of voice search and text-to-speech functions ensures that all users can access the system.
Other AI-enabled procedures are being introduced, such as the use of AI-generated graphics in promotional materials, in which AI-tools create visually appealing content based on verbal cues. Federal Bank uses the technology to tailor their mails based on specific client preferences and behaviour trends. Thus, the team is leveraging the efficiency of Artificial Intelligence to enable their teams to boost communication throughput, which is then verified for accuracy before being deployed.
“At Federal Bank, the human is always at the core of our products, services and delivery. Growing business and efficiency demands that we understand and use the smart emerging technologies by understanding them first hand and deploying them for scale. Having been the first to implement a Generative AI based search functionality for website using Google Generative AI platform, we will keep looking forward to more innovative opportunities to enhance Customer Experience.”, said M V S Murthy, Chief Marketing Officer, Federal Bank.
The integration of Generative AI technology into Federal Bank’s services yields numerous benefits for both the company and its consumers. By employing AI-powered solutions, the Bank improves speed, accuracy, and accessibility, ultimately redefining customer service standards in the banking industry. With personalised experiences, faster processes, and novel functionality, Federal Bank continues to set the standard for using AI to create excellent banking experiences.
Also Read | Federal Bank and Avanti Finance Collaborates to Provide Income Generation Loans to Underserved Communities
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