HDFC Bank has reportedly tied up with Artificial Intelligence Startup Niki.ai. Earlier Niki.ai was funded by Ratan Tata & Ronnie Screwvala, to bring in ‘conversational banking’ — chatbots that facilitate commerce and banking transactions without getting out of the chat window.
Ratan Tata and Roni Screwvala’s Unilazer Ventures picked up stake in Niki.ai. The start-up had raised funds to increase its merchant base.
Artificial Intelligence Startup Niki.ai was founded in April 2015 by four IIT Kharagpur Alumni – Sachin Jaiswal, Keshav Prawasi, Nitin Babel and Shishir Modi in Bengaluru.
This chatbot is presently available on Facebook messenger where it can be used for e-commerce transactions like booking a cab, ordering food or paying bill. Speaking to TOI, Nitin Chugh, HDFC Bank’s digital banking head, said that the chatbot was designed to work as a virtual concierge service.
The HDFC Bank on-chat app is available to anyone and not just those with HDFC Bank accounts.
“The chat opens a payment gateway through which transactions can be made using any bank account,” said Chugh. “In social media, the chatbot will facilitate e-commerce transactions. For instance, if you ask it to book a cab, the bot will get your location and look for cabs available with different aggregators,” said Chugh.
He added that a similar chatbot will be available within the bank’s log-in page and facilitate ‘assisted net banking’ transactions without having to navigate deep into the website.