Unleashing The Power of GPT in BFSI

Gautam Bandhyopadhyay

In the fast-paced domain of banking and financial services, technology continues to play a pivotal role in shaping customer experiences and service delivery. The Elets 15th NBFC100 Tech Summit served as a platform for unveiling the transformative potential of Generative Pre-trained Transformer (GPT) technologies in this sector. One of the standout presentations was by Gautam Bandhyopadhyay, CEO and Co-Founder of Trustt, who delved into the applications of Trustt GPT in the banking and finance ecosystem.

Trustt: At the Forefront of Financial Tech Innovation

Trustt stands out as a beacon of innovation, providing a suite of technology solutions to banks and financial institutions. Their offerings encompass a digital lending platform, digital distribution, digital identity, and Trust GPT, each designed to cater to the nuanced needs of modern financial services.

Serving over 100 financial organizations, including prominent names like HDFC Bank, Trustt’s impact on the industry is significant. But it was their Trust GPT product that took center stage at the summit.

Trust GPT: Revolutionizing Customer Interactions in Finance

Trust GPT, a product based on generative AI technology, has been crafted to revolutionize customer service by offering multilingual, humanlike interactions and real-time data integration. The demo showcased at the summit highlighted four key capabilities of Trust GPT:

Product Inquiry: Customers can inquire about financial products and receive recommendations tailored to their preferences in their local language, a significant leap from the limited, often frustrating, capabilities of traditional chatbots.

Product Origination: The platform is capable of streamlining the product application process, making it more intuitive and user-friendly.

Customer Support: Trust GPT can handle common inquiries with over 90% containment rates, providing detailed information such as investment portfolio growth and allowing transactions like portfolio top-ups through simple conversational exchanges.

Sales Assist: The AI aids in converting leads by seamlessly recommending services and products, operating as a round-the-clock virtual assistant.

Demonstrating Trust GPT’s Versatility

The live demo at the summit, though challenged by technical hiccups like the absence of an HDMI cable, still managed to impress the audience with a mobile demonstration. The AI seamlessly handled product inquiries, mixing languages, and responding coherently, showing its robust understanding and capabilities.

Trust GPT’s design embraces RBI’s mandate for transparency, with no data hallucination – a common issue with AI where responses might be generated based on incorrect or irrelevant data sources. Trustt has ensured that their system relies on a secure, in-house knowledge base, addressing privacy concerns and keeping institutional data intact.

The Future of Customer Service in Finance

Trust GPT embodies the future of customer service in finance, not only by providing solutions for product discovery and lead generation but also by enhancing customer servicing and creating detailed reports as required by customers and institutions alike.

One particular point of emphasis was Trust GPT’s ability to handle both structured and unstructured data, adapting to various customer inquiries with precision. The product is grounded with a specific knowledge base tailored to each organization, ensuring that responses are accurate and relevant to the specific financial entity.

To wrap it up

As we advance further into an era of digital transformation, technologies like Trust GPT are setting new standards for customer engagement and operational efficiency in the banking and finance industry. Trustt’s presentation at the Elets 15th NBFC100 Tech Summit not only showcased the capabilities of their product but also illuminated a path for other financial institutions to follow in the quest to provide exceptional customer service.

The demonstration of Trust GPT was a testament to the power of AI in enhancing the customer journey, and it left a lasting impression on the attendees, marking a significant milestone in the evolution of customer service technology within the financial sector.

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