HDFC Bank, India’s second largest private bank, will be using robots at its branches, to assist its customers.
Nitin Chugh, country head for digital banking, said “more ‘humanoids’ would be deployed after seeing the response from customers. Then, the measure of work done with these would be extended.”
As a part of the Artificial Intelligence (AI) project, which commenced last year, to improve its technological capability. The bank is looking forward at using AI for the betterment of its customer service, beside process automation, marketing, and other several aspects. It is also looking at using these methods to intensify growth in rural areas, for which it is open to partnering with financial technology entities working in these places.
HDFC reported that the majority of its customer base has migrated to digital banking (71% at the end of March 2016). So, it says, it is mainly focusing on a second leg of the digital process. In line with this, it has tested the use of chatbots, computer programs powered by AI and which can replicate human conversations, for help with transactions such as bill payment, recharge and so on.
The bank is also inviting ideas from startups as it looks at the IoT, AI,Virtual Reality,blockchain and rural fintech.