In a recent development around conversational AI in banking and financial services, Infosys Finacle, a part of EdgeVerve Systems collaborated with Singapore based Active.AI that offers enterprise AI platform to banks globally. The integration of Active AI platform with Finacle will help financial institutions to offer conversational solutions via chat and voice interfaces across their digital channels. This step can boost the customer experience and automate the processes for banks.
One of the fastest growing fintech companies across the globe, Avtice.AI was recently recognized in the recently concluded chapter of Finacle FinTech Connect, that identifies promising fintech globally.
“Elevating customer experience and reducing servicing costs are two of the strategic goals banks across the world are pursuing. The advancement in artificial intelligence technologies offer a significant opportunity to achieve these twin goals”, said Sanat Rao, Chief Business Officer, Infosys Finacle.
“Active.AI conversational banking offering focused on financial services will complement our suite of digital banking offerings and will help our clients make banking simpler for their customers,” he added.
Some of the benefits that this association would bring are:
The Active.AI platform integrated with Finacle would enable end customers an interaction with software bots in natural language through voice and chat interface. It can prove beneficial around account information, pay bills, make transfers and access several other banking services.
The joint solution would mean better use of artificial intelligence to understand customer interactions across various channels. It would also mean personalized conversations that can make tailored offerings to customers.
Available in multiple languages, the solution would be offered through Finacle digital channels solutions such as Finacle Online Banking and Finacle Mobile Banking.
“We are building the next generation of secure and scalable technology for financial services with an AI first approach. Our enterprise AI platform will enable banks to be ready for the conversational era”, said Parikshit Paspulati, Chief Technology Officer, Active.AI.
He added “Partnering with Finacle helps us greatly increase delivery velocity for our mutual clients. Axis Bank is one of the first banks, where we have integrated our AI platform with Finacle ecosystem.”
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Srishti currently works as Associate Editor at Analytics India Magazine. When not covering the analytics news, editing and writing articles, she could be found reading or capturing thoughts into pictures.