Finacle, the financial software product of EdgeVerve Systems, will join forces with Niki.ai, the financial tech start-up, to provide chat-based service to users of banking clients. EdgeVerve Systems is the subsidiary of IT major Infosys. This data was declared this week to the media.
“The joint venture will allow banks utilizing our Finacle to provide its users a virtual banking helper for shopping services and products,” claimed the company to the media in a statement. Supported by Unilazer Ventures, Tata czar Ratan Tata, and SAP.iO, the Bengaluru-located Niki is an AIbot that chats with banking users to assist them shop for services and products and carry payments faster. Apart from booking buses, movie tickets, and hotels, the bot assists user pay phone bills and utility and recharge without difficulty.
“For companies, the chat bot is simply a ‘plug and play’ tech, which can be incorporated everywhere, comprising on messaging platform messenger, operating systems, and on their apps,” claimed the statement. Being a software app that operates automatic work on the Internet, the bot performs jobs that are repetitive and simple. The computer program is developed to replicate chats with human consumers all over the world and a chatbot performs an artificial chat through textual or auditory methods as an interactive agent amid humans and computers.
“The combined solution from Niki.ai and Finacle will offer a smart-buying chatbot by using machine learning and natural language processing to chat with users and carry out online payments,” claimed the statement. The bot will understand the speech text of a user and give personalized recommendations. The solution will offer banks a chance to start 2-way automatic intelligent chats with users. “The combined solution will also allow banking users to start chats on the mobile and online applications of the bank and conclude payments without leaving the interface of chat,” claimed the statement.
Services from 25 vendors such as Ola, Uber, redBus, BookMyShow, Housejoy, and Cleartrip are pre-incorporated with the chat bot. “We offer a virtual helper that banks can utilize to extend their footprint in e-commerce via a pre-incorporated system,” Sanat Rao, Chief Business Officer of Infosys, claimed in the statement.