Problem / Objective:

Recent advances in AI and related areas such as speech and image recognition and the availability of virtually infinite amounts of computing power and storage has made banking easier. RBL Bank wanted to engage more customers and leverage AI in its banking services to ease out the banking process.

Solution / Approach:

RBL bank, with the help of Fluid AI startup, came up with an idea to use AI in banking with the assistance of an AI avatar. The RBL Nepean Sea Road branch in Mumbai uses AI tools such as genetic evolution and multimodal for various banking operations which depend upon feedback.

The bank uses a smart screen with motion sensors to greet its customers. Computer vision built into the technology recognizes customers, speaks to them, hears and understands their gestures using gesture and motion detection. Banking operations like applying for a loan, assessing credit card options, or getting the latest rate on various deposits can be done using the smart screen and virtual buttons. These operations are based on predictive and prescriptive analytics.

Other facilities which bank is providing is face recognition with which the machine can remember the name of a person and know the products and relationship the person has with the bank. Besides engaging customers, the solution also gathers customers’ data, performs data crunching and presents the analysis to RBL.

Impact / Implementation:

RBL Bank was able to reduce its operational costs and achieve wealth management for its customers smoothly. The current smart screening solution at the Mumbai branch can recognize major European languages and understand 16 languages, including English, Hindi, Marathi and Gujarati.

In the coming months, RBL is planning to deploy Fluid AI’s experience-based, smart-screen solutions across other metro branches in India.