In his current role, Biswabrata Chakravorty is responsible for roadmap, planning and delivery of strategic capabilities for IndusInd Bank across the technology stack back to front, aligning with the firms’ broader strategy. Biswa has close to two decades in technology strategy, execution and transformation roles across leading banks and insurance organizations. He is the CTO at IndusInd Bank.
IndusInd Bank rolled out conversational banking – a key step towards developing cognitive AI-based customer journeys. The idea was to fulfil the most widely used financial and non-financial transactions –securely and conveniently. This initiative allows for self-service through use of voice assisted commands, which promotes a frictionless banking experience. As it is enabled on IoT devices – this ensures greater reach and convenience for customers. The conversational chat using NLP technology is currently live and available with features that include: Inquiries of balance/mini statement/FD rates, recharges– Mobile/DTH; Fund transfers – NEFT/IMPS; credit card bill payments. Artificial intelligence/machine Learning learns from the conversations to confidently respond to queries basis context and experience. Other benefits include accessibility to new banking clients such as youth, expats, and home makers via voice platforms. This also brings down cost of servicing compared with traditional channels like branch and contact centre.