YES Bank partners Microsoft to turbocharge chatbot

YES Bank partners Microsoft to turbocharge chatbot

India's YES Bank has enlisted Microsoft to help revamp its AI-enabled chatbot, using the latest technology to let customers carry out everything from managing their credit cards to checking their loan eligibility.

YES Robot already handles over half a million customer interactions every month, offering more than 25 services.

It will now use Microsoft's natural language processing engine Luis (Language Understanding Intelligent Service), to revamp the bot, combining conversational AI with extensive financial knowledge to make carrying out banking tasks simpler.

Customers can use YES Robot to apply for over 65 banking products. Users can check eligibility for loans and then get serviced by a human after all the basic checks are done by the bot, which can also provide an indicative loan amount using machine learning and credit scoring algorithms.

Another option lets customers book fixed deposits and recurring deposits by simply conversing with Robot, without the need of registration or remembering passwords.

With Microsoft's technology behind it, the bank plans to expand the bots capabilities, and integrate it with the likes of WhatsApp, Alexa, Google Assistant and Siri.

Ritesh Pai, chief digital officer, YES Bank, says: "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.

"The aim is to make the whole service experience more personalized and instant, so that the chatbot can evolve and operate as a full-fledged banking assistant in future."

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