Axis Bank has announced to launch intelligent banking chatbots in partnership with Active Intelligence Pte (Active.ai), a Singapore-based fintech platform.

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The conversation with bots can be made through the native app of Axis bank and even on social media apps like Facebook messenger.

“New era of personalized banking and commerce is emerging wherein customers can converse with brands and financial institutions in natural language through their preferred mode of communication. In the future, customers will just walk to micro branches with voice enabled IoT devices to engage with the banks for services,”

said Ravishankar, CEO and co-founder Active.AI.

Active.ai started operations in February 2016 with the idea of doing disruptive business in the field of AI with a SaaS based model.

“Artificial Intelligence within Fintech is at its nascent stage and we are working with banks to take this technology ahead for a better customer engagement strategy, “

says Ravishankar.

“We are enabling new digital technologies to make it easy and simpler for customers to engage with us. Users are moving to an unstructured form of engagement, we want to be where customers are. Active.ai will help us engage with our customers in a conversation in a personal and contextual manner in the digital space,Repeat value of transactions, a 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 space,”

said Rajiv Anand, Executive Director (Retail Banking), Axis Bank.

The platform utilises AI to help financial institutions develop personalised and contextual interaction solutions and enable users to achieve services like taxi, food, tickets and financial services on demand, anytime and anywhere by talking to bank in the form of a normal conversation on messaging platforms and mobile apps.

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Sangeeta Ghosh

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