Yes Bank to Provide Loans Via Facebook Chatbot

Yes Bank on Thursday partnered with Silicon Valley-based bot platform Gupshup to launch an artificial intelligence-powered banking chatbot 'YES mPower' that instantly gives information about loan products.

The 'YES mPower' bot is available through Facebook Messenger.

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"Artificial intelligence-driven conversations between brands and their consumers deliver better customer experiences while lowering costs through automation" said Beerud Sheth, CEO, Gupshup, in a statement.

With 'YES mPower', customers can get information on loan products like personal loans, auto loans, gold loans and loan against securities while products like used car loans, loan against properties and home loans are expected to be added soon.

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"We are excited to partner with Gupshup to introduce this chat bot that transforms banking as we know it by offering a conversational interface to users," said Pralay Mondal, Senior Group President and Head (Retail and Business Banking), Yes Bank.

The bot also facilitates instant communication with all stakeholders so that the customer's requirement can be addressed immediately.

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Yes Bank introduced chatbot-based banking in 2016 that allows customers to perform banking transactions on various social messengers.