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Yes Bank ties up with Microsoft to upgrade its Yes Robot

Yes Bank said it has partnered with Microsoft to strengthen its AI-enable chatbot, Yes Robot, claimed to be the first of its kind. The chatbot will now have advanced neuro language programming (NLP) engine LUIS (Language Understanding Intelligent Service) and other cognitive services, capable of understanding and resolving the evolving banking needs of customers without the need for human intervention. Yes Robot will not function from the Microsoft’s modular and customizable AI platform, enabling users to perform financial and non-financial banking transactions by employing conversational AI equipped with extensive financial knowledge, thereby relieving customers from the hassle of navigating through multiple web pages. Ritesh Pai, Chief Digital Officer at the bank, said the reinvigoration of Yes Robot in-house, using Microsoft’s cognitive services aims to further enhance customer service by personalizing interactions and reducing the time-of-first-response to just a few seconds. A customer can apply for over 65 banking products, check his/her eligibility for a loan and then get serviced by a relationship manager after all the basic checks are done by the bot. The bot can also provide an indicative loan amount using ML and advanced credit scoring algorithms. Customers will also be able to create FDs and recurring deposits by simply conversing with the bot, without the need of registration or remembering passwords. The bank now plans to integrate the bot with services such as contextual and real-time transfer of chat from bot to the live agent of the bank, integration with different platforms and applications such as WhatsApp, Alexa, Google Assistant and Siri to provide the bank’s services on IoT platforms for customers and other MS cognitive services & tools such as RPA, OCR etc.

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