- The chatbot called Yes Robot is powered by AI features such as NLP (Neuro Language Programming) and LUIS (Language Understanding Intelligent Service).
- This will greatly ease the various banking needs of customers.
Yes Bank, in partnership with Microsoft, has announced to strengthen its AI enabled chatbot called Yes Robot, with several advanced features. These include NLP (Neuro Language Programming) based engine, LUIS (Language Understanding Intelligent Service) and other cognitive services.
Intelligent banking transactions
Through Microsoft’s advanced and customisable AI platform, the Yes Robot will enable users to perform financial and non-financial banking transactions. The chatbot’s extensive financial provide customers relief from the hassle of navigating through multiple web pages.
Ritesh Pai, Chief Digital Officer, Yes Bank, said, “YES BANK has been one of the early adopters when it comes to leveraging machine learning and AI. Recognizing that chatbots would be game changers in the industry, providing major competitive advantage to banks, we had started working on automating several processes and service touch points through Bots as early as 2016. The reinvigoration of Yes Robot in-house, using Microsoft’s cognitive services aims to further enhance customer service by personalizing interactions and reducing the time-of-first-response to just a few seconds”
Microsoft Azure’s cognitive services enhances the capabilities of Yes Robot in efficiently handling user queries and responding to them user queries.
Whenever a customer applies for a banking service, such as a loan application, then the bot checks the submitted application before sending it to the Relationship Manager for further processing.
Yes Robot can provide an indicative loan amount using Machine Learning (ML) and advanced algorithms. It also has the function of booking fixed deposits (FDs) and recurring deposits (RDs). For doing so, there is no need of registration or remembering passwords (only OTP based authentication is required).
The bot has received positive feedback by the bank’s many customers, thus helping the bank to achieve high financial success.
Yes Bank intends to integrate the bot with services such as contextual & real-time transfer of chat from bot to the live agent of the Bank; integration with different platforms and applications such as WhatsApp, Alexa, Google Assistant and Siri to provide the various bank services on IoT platforms for customers and other MS cognitive services & tools such as RPA, OCR etc. The Bank also plans to enable cross sell and acquisition services on Yes Robot as a strategic tool to further empower the sales force.