Axis Bank to launch chat bots for 'intelligent' banking

The partnership with Active Intelligence Pte (Active.ai) will enable users to chat through the banks's mobile banking app and messaging platforms like Facebook Messenger, Axis Bank said.

New Delhi, Nov 15 Axis Bank, India's third largest private bank on Tuesday announced partnership with a Singapore-based fintech platform to launch intelligent banking chat bots that will bring mobile banking services for its customers in the form of a conversational interface.

The partnership with Active Intelligence Pte (Active.ai) will enable users to chat through the banks's mobile banking app and messaging platforms like Facebook Messenger, Axis Bank said in a statement.

"We are enabling new digital technologies to make it easy and simpler for customers to engage with us. Active.ai will help us engage with our customers in a conversation in a personal and contextual manner in the digital space," said Rajiv Anand, Executive Director (Retail Banking), Axis Bank.

"Repeat value of transactions, 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 (Banking, Financial services and Insurance) space," Anand added.

The new service utilises artificial intelligence to help financial institutions develop personalised and contextual interaction solutions which can be used by consumers through web, mobile, social and messaging channels.

IANS