Bank of Baroda May Introduce Blockchain, AI Technology to Increase Business - Crypto-News India

Bank of Baroda, is contemplating integrating blockchain, artificial intelligence (AI), and robotics to increase business. Chief Executive Officer (CEO) Managing Director PS Jayakumar told MoneyControl, "The third-largest public sector lender has laid out a digital roadmap that will remove the need to worry about small balances in bank accounts. The cost of managing these accounts will be offset by the efficiency of opening bank accounts, and the lender would focus on product delivery." Explaining further he added, "We want to be able to anticipate what our customers want in a seamless manner. We have introduced tablets and now open almost 4 lakh accounts every month in 10-12 minutes (per account). This makes the balances in the account less relevant."