HDFC Bank Tied Up With Artificial Intelligence Startup Conversational Banking Chatbots

HDFC Bank has reportedly tied up with Artificial Intelligence Startup Earlier 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.

HDFC Bank Tied Up With Artificial Intelligence Startup Nikidotai
HDFC Bank Tied Up With Artificial Intelligence Startup Nikidotai

Ratan Tata and Roni Screwvala’s Unilazer Ventures picked up stake in The start-up had raised funds to increase its merchant base.

Artificial Intelligence Startup 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.

Post Author: Jitendra Chaturvedi

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