
The Bank of Baroda has launched a Generative AI-powered virtual relationship manager (VRM), a first-of-its-kind initiative in the Indian banking sector.
The AI-powered VRM provides real-time information about the bank’s products and services. It also captures customer requirements for specific banking services. The VRM communicates in multiple languages and is accessible through video, audio, and chat interfaces. It assist customers with everyday basic banking services, including account statements, chequebook requests, debit card requests, interest certificates, and more. This virtual VRM will be released in phases.
The bank has also announced other technology-led initiatives On the Bank’s 117th Foundation Day, including a credit line on UPI for enhancing payments and banking experience for customers. Initially, this feature will be available to Baroda Kisan Credit Card (BKCC) holders. With this facility, BKCC customers can effortlessly access a pre-approved credit line via UPI. They can link their KCC account to UPI and use the credit line for specific merchant payments.