Axis Bank unveils AXAA an AI powered conversational banking IVR

The launch of AXAA is in line with the Bank’s 'Dil Se Open' philosophy. Axis Bank has partnered with service provider Vernacular.Ai to deploy AXAA on phone-banking Interactive Voice Response (IVR).

AXAA offers a change from conventional IVR system to call steering and precise response while assisting customers to traverse through the IVR without the need for any human intervention in most cases.

Speaking on the launch, Ratan Kesh, EVP and Head - Retail Operations and Service, Axis Bank said, “Our objective is to re-define the role we can play in the life of our customers, by elevating digital banking to new domains of customer service.

"These initiatives are part of the Bank’s goals and priorities as outlined in its strategy based on the three vectors of (GPS) Growth, Profitability and Sustainability. This new technology will not only enhance customer experience, but will also increase efficiency of our contact centre operations. More importantly it will help our employees to focus on more complicated queries, from customers and thereby improve productivity while improving quality and customer experience. "

CEO and Co-founder, Vernacular.Ai, Sourabh Gupta, said, "We are very excited to partner with Axis Bank on their digital journey to provide a first of its kind banking experience to millions of its customers across India.

"Our voice AI platform - AXAA will help Axis Bank offer its customers a superior engagement experience in a language that they are comfortable with, and resolve more issues with no waiting times. Voice is the future of human interface with machines, and AXAA is the most advanced and accurate voice AI platform for Indian language speech and dialects.”