Yes Bank partners Microsoft to strengthen its AI powered banking solutions

NEW DELHI: Yes Bank, India's fourth largest C, has partnered with Microsoft to strengthen its first of its kind, AI enabled chatbot, Yes Robot, with advanced neuro language programming (NLP) engine LUIS (Language Understanding Intelligent Service) and other cognitive services, capable of understanding and resolving the evolving banking needs of customers without the need for human intervention. Built on Microsoft's modular and customizable AI platform, the all new, reinvigorated Yes Robot enables users to perform financial and non-financial banking transactions by employing conversational AI equipped with extensive financial knowledge, thereby relieving customers from the hassle of navigating through multiple web pages. Commenting on the partnership, 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" A customer can apply for over 65 banking products, check his/her eligibility for a loan and then get serviced by a Relationship Manager after all the basic checks are done by the Bot.