Bank of Baroda, an Indian public sector bank, has adopted advanced data and artificial intelligence (AI) technologies for its digital transformation journey. The Bank has introduced three different generative AI-powered solutions for its customers and employees. They are ‘Aditi’, ‘GyanSahay.AI’, and ‘ADI’.
‘Aditi’ is a GenAI-powered Virtual Relationship Manager. A human-like interface, ‘Aditi’ presented as a digital avatar, offers conversational banking across various services to enhance the digital customer service experience.
Available on the Bank’s web portal, the capability supports audio, video, and chat-based assistance, ensuring 24×7 banking services with multilingual support, thereby augmenting the overall customer experience. This service is gradually being rolled out to our existing customers through an enrollment process on the Bank’s website.
The Bank of Baroda has also launched a GenAI-enabled knowledge management platform, ‘GyanSahay.AI‘, for its employees. This platform is trained in Bank’s product policies and processes to give employees instant and accurate answers. Through this platform, employees seamlessly handle customer queries and access key operational details more efficiently, ultimately enhancing customer satisfaction and service delivery.
Bank has also launched GenAI powered chatbot ‘ADI’ to improve digital customer experience and solve the required queries through chatbot.
Mr. Debadatta Chand, Managing Director & Chief Executive Officer, Bank of Baroda, said, “We at Bank of Baroda have been closely following the rapid advancement of GenAI and are convinced that it has the power to transform banking operations as we know it today. Our digital GenAI based conversational interfaces will improve the Bank’s digital customer experience. The Bank will continue to enhance these GenAI use cases with incremental sales and service features driving customer self-service and immediate fulfillment.
“Our GenAI-enabled knowledge management platform is an endeavor to empower the Bank’s large customer-facing workforce with the right information on products, policies, and processes to improve service delivery. Bank also plans to recruit specialized and skilled resources for capacity building to drive large adoption of artificial intelligence technologies in banking operations and services,” he added.
Mr. Sanjay Mudaliar, Executive Director of Bank of Baroda, said, “The Bank has been investing in data-driven transformation over the last few years, and with the changing customer behavior, digital banking has been a large focus of the Bank. GenAI will support the Bank in its endeavor to provide more control to its customers through anytime, anywhere banking. While the first set of GenAI use cases is pioneering large-scale implementations, the Bank has also set up the necessary technology architecture and guardrails to ensure security and ethical AI. This would be paramount for ensuring customer confidence and trust.”
By harnessing the combined power of GenAI, the Bank is dedicated to enhancing customer interactions, empowering its workforce, and boosting operational agility and efficiency. Bank of Baroda has adopted a systematic approach to integrating gen AI technologies into its banking operations.
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