Axis Aha!, launched in early 2018 by Axis Bank and Active.Ai, has seen a surge in usage of its conversational AI platform on their mobile banking app which has over 10 million customers in India.
“We are seeing good uptake, as we keep adding new use cases to Axis Aha!. When we launched the chatbot, we were very clear that we would use it beyond just query handling,” said Praveen Bhatt, EVP at Axis Bank.
“We found that fund transfers, blocking cards and paying bills though seemingly easy were high-anxiety tasks for many customers and hence, useful cases to add to a chatbot,” Bhatt said. “Consequently, we are now finding a measured but solid month-on-month growth in its adoption and usage.”
As Indian consumers are doing lot more on their mobile phones, the need for easy interactive human-like conversations to make their life simpler has surged. Simple FAQ chatbots are insufficient as consumers want contextual engagement with ability to assist and allow them to make qualified choices.
Axis Aha!, a virtual banking assistant, brings the power of artificial intelligence and machine learning to help customers with contextual conversations, do transactions and answer their banking related queries.
Consumers can accomplish all these by simply speaking to Axis Aha! and it will do the rest — update on an account balance, ordering a cheque book, paying bills, transferring funds, etc.
“AI is an extremely powerful tool that can help in enhancing customer experience and relationship. It has the potential to revolutionize the way we deal with customers in the banking sector,” said Avinash Raghavendra, EVP and head of IT at Axis Bank.
“Chatbots help in saving time, human efforts and providing accurate, personalized services. They also help in data analysis, fraud detection and data capture,” said Raghavendra. “Given all these positives, we had launched ‘Axis Aha!’ to accentuate our service capabilities and are now finding a steady increase in engagements as new user cases keep getting added.”
Powered by Active.Ai’s cutting edge AI engine, TRINITI, institutions can now dialogue digitally with their consumers, understand their intent, be contextually aware, handle multiple instructions in a single string and handle acronyms or slang in a delightful manner.