Indian Economy News

‘bob SAMVAD’, an AI-powered multilingual conversational platform of Bank of Baroda to transform in-branch customer interactions, launched in Mumbai

‘bob SAMVAD’ is Bank of Baroda’s new AI-powered, multilingual conversational platform, the industry's first. bob SAMVAD was launched in Mumbai by Secretary of Department of Financial Services, Mr. M. Nagaraju. As an in-house platform, bob SAMVAD provides real-time, low-latency two-way communication in 22 languages, enabling customers and branch staff to communicate without language constraints. It is believed that the launch of bob SAMVAD will help improve inclusive banking, accessibility to customers, and efficiency in branch operations. By harnessing the capabilities of speech and language AI solutions, bob SAMVAD supports India’s overall efforts toward technology-based financial inclusion and customer-oriented banking.

Customers at the service counter can either voice or type their questions in the language they choose, with these inputs automatically converted into the preferred language of the staff member, making interactions swift, precise, and seamless. This conversation is made available in the form of on-screen texts, while a text-to-speech voice option allows for complete accessibility in case some customers prefer audio. bob SAMVAD will be rolled out in the first phase in 250 branches in Tamil Nadu, Karnataka, Telangana, Andhra Pradesh, and Maharashtra, with its progressive rollout in other branches. The product is likely to set a new benchmark for AI-led multilingual banking services in terms of the performance of branches in improving customer satisfaction. 

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.