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YES Bank enters into a deal with Payjo to leverage its AI solutions

The most recent news from YES Bank sees the private sector lender enter a partnership with an artificial intelligence solution provider, Payjo. Based out of Silicon Valley, California, Payjo will provide the financial institution with the first AI-driven bot for a wallet. This step will complement the firm’s already trusted and popular YES Pay wallet service with over half-a-million users.

With this move, Yes Bank will offer its wallet services leveraging a chat-based financial assistant. The organization will use Payjo’s assistance to deploy the service on Facebook Messenger. Additionally, the bank will soon make this service available on other popular social media channels such as Skype, Slack, and WhatsApp.

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The widespread use of instant messaging will allow the firm to furnish a convenient way to recharge mobile and DTH services, send-request money, and pay utility bills through the very YES Pay feature. Ritesh Pai, Country Head, Digital Banking, YES Bank, comments “We shall also migrate a significant portion of our customer service to this customer-friendly platform over the next year.”

The AI-powered YES Pay Bot can answer banking queries and requests in a conversational manner, besides processing out financial transactions over a friendly chat. Additionally, users gain the advantage of receiving quick, personalized responses, and real-time insights on transactions, from the bot.


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The bot has been designed to function harmoniously across multiple channels like web, mobile, and IVR. The AI-powered bots can act as personalized banking assistants over time, gaining the ability to forecast customer requirements and provide a personalized panoramic view of spending trends. “These ‘humanized’ Bots can act as intelligent assistants. We are also working on several use cases for our employees to enable them with information about the Bank’s policies and new initiatives,” concludes Pai.

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Amit Paul Chowdhury
With a background in Engineering, Amit has assumed the mantle of content analyst at Analytics India Magazine. An audiophile most of the times, with a soul consumed by wanderlust, he strives ahead in the disruptive technology space. In other life, he would invest his time into comics, football, and movies.

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