BANGALORE, India, June 12, 2019 /PRNewswire/ -- Axis Bank in partnership with Active.Ai, launched Axis Aha! in early 2018, has seen a surge in usage of its conversational AI platform on their mobile banking app which has over 10 million customers.
"We are seeing good uptake, as we keep adding new use cases to Axis Aha!. When we launched the chatbot, we were very clear that we would use it beyond just query handling. Customers are not interested in plain responses, they actually want it to be actioned. We researched and found that fund transfers, blocking cards and paying bills though seemingly easy were high-anxiety tasks for many customers and hence, useful cases to add to a chatbot. Consequently, we are now finding a measured but solid month-on-month growth in its adoption and usage," said Praveen Bhatt, EVP & Head Retail Liability and Direct Banking Products.
As Indian consumers are doing lot more on their mobile phones, the need for easy interactive human-like conversations to make their life simpler has surged. Simple FAQ chatbots are insufficient as consumers want contextual engagement with ability to assist and allow them to make qualified choices.
Axis Aha!, a virtual banking assistant, brings the power of artificial intelligence and machine learning to help customers with contextual conversations, do transactions and answer their banking related queries.
Consumers can accomplish all these by simply speaking to Axis Aha! and it will do the rest:
- "What's my Account balance?"
- "Order a cheque book"
- "I want to pay my credit card bill"
- "Transfer 5000 to Mom"
- "I have lost my wallet. What to do?"
- "Increase my debit card limits"
- "Recharge my mobile"
- "Did my salary get credited?"
"AI is an extremely powerful tool that can help in enhancing customer experience and relationship. It has the potential to revolutionize the way we deal with customers in the banking sector. Chatbots help in saving time, human efforts and providing accurate, personalized services. They also help in data analysis, fraud detection and data capture. Given all these positives, we had launched 'Axis Aha!' to accentuate our service capabilities and are now finding a steady increase in engagements as new user cases keep getting added," Avinash Raghavendra, Executive Vice President & Head - Information Technology of Axis Bank.
Powered by Active.Ai's cutting edge AI engine, TRINITI, institutions can now dialogue digitally with their consumers, understand their intent, be contextually aware, handle multiple instructions in a single string and handle acronyms or slang in a delightful manner. Over ten leading institutions across the world handle millions of interactions across simple and complex banking conversations on TRINITI today with a very high accuracy rate. With valuable feedback from clients, Active.Ai has made this platform immensely scalable and quick to deploy. They believe this revolutionary platform will make it accessible for every financial institution to embrace conversational AI and deliver a great service experience.
"We are proud to partner with Axis Bank, an innovative leader in digital banking and their vision to empower millions of Indians with engaging and delightful banking experience. By making banking simple using voice and conversational text, Axis Bank customers can pretty much bank from anywhere in the world using web, app, messaging or smart speaker system," said Ravishankar, CEO of Active.Ai.
Active.Ai (Active Intelligence Pte Ltd), a Singapore Fintech start-up with innovation lab in Bengaluru, India, is building a conversational AI Platform from Singapore for the rest of world. Their core business of understanding unstructured data helps financial services design intelligent conversations. They focus on multiple financial services industry domains such as retail, corporate and private banking, virtual agents, capital markets, insurance, commerce and wealth management. Active.Ai employs 100+ people out of offices in Singapore, India, and the United States.
For more details, visit www.active.ai or on twitter @activeaibot
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