The document discusses the use of virtual assistants in the banking sector in India. It begins with an introduction to customer service in banks and discusses how virtual assistants can enhance that service. It then provides examples of virtual assistants used by several major Indian banks like SBI's SIA and HDFC Bank's EVA. The case study of HDFC Bank highlights how it was one of the first to implement a virtual assistant called EVA. In conclusion, virtual assistants are becoming more advanced and important for improving customer experience in the banking industry.

1. VIRTUAL ASSISTANCE IN BANKING
SECTORS:
A STUDY ON INDIAN BANKS
PREPARED BY:
SUSHMITA DAS (3118BBA076)
MINAKHI MOHAPATRA (3118BBA031)
SOUMYAJIT PANDA (3118BBA070)
SARTHAK GOYAL (3118BBA057)
WITH THE GUIDANCE OF :-
DR. SUBRAT PRASAD
PATTANAYAK

2. THE OUTLINE
INTRODUCTION
VIRTUAL ASSISTANT (VA’s)
CUSTOMER CARE IN INDIAN BANKS
TECHNOLOGY ENHANCEMENT IN CUSTOMER CARE
CASE STUDY
VA’s IN NON-BANKING SECTOR
CONCLUSION
REFERENCES

3. INTRODUCTION
CUSTOMER SERVICE IN BANKING IS ONE OF THE MOST IMPORTANT WAYS TO KEEP
CUSTOMERS COMING BACK.
IT INCLUDES:
LARGE OUTREACH FOR DELIVERY OF FINANCIAL SERVICES
VAST NETWORK OF BRANCHES SPREAD OVER THE ENTIRE COUNTRY WITH
MILLIONS OF CUSTOMERS & A COMPLEX VARIETY OF PRODUCTS & SERVICES.
CUSTOMER IS A POTENTIAL USER OF BANKING SERVICES, SO A ‘CUSTOMER’
INCLUDE:-
ONE ON WHOSE BEHALF THE ACCOUNT IS MAINTAINED

4. ARTIFICIAL INTELLIGENCE
 AI IS A WIDE-RANGING BRANCH OF COMPUTER SCIENCE
CONCERNED WITH BUILDING SMART MACHINES CAPABLE
OF PERFORMING TASKS THAT TYPICALLY REQUIRE HUMAN
INTELLIGENCE.
 THE EXPENSIVE FACTORS OF AI HAS GIVEN RISE TO MANY
QUESTIONS AND DEBATES.
 AI DIVIDED INTO TWO TYPES:
WEAK AI (EX. IPHONE’S SIRI AND AMAZON’S ALEXA)
STRONG AI ( EX. GAMES)
IT COVERS ANYTHING WHICH ENABLES THE
COMPUTERS TO BEHAVE LIKE HUMANS.
USE IN SPEECH RECOGNITION, FRAUD DETECTION,
PERSONALIZATION https://e3zine.com/strong-artificial-intellig

5. MACHINE LEARNING
 MACHINE LEARNING IS A CONCEPT WHICH
ALLOWS THE MACHINE TO LEARN FROM
EXAMPLES AND EXPERIENCE, AND THAT TOO
WITHOUT BEING EXPLICITLY PROGRAMMED.
SO INSTEAD OF YOU WRITING THE CODE,
WHAT YOU DO IS YOU FEED DATA TO THE
GENERIC ALGORITHM, AND THE
ALGORITHM/MACHINE BUILDS THE LOGIC
BASED ON THE GIVEN DATA.
IT DEALS WITH THE EXTRACTION OF
PATTERNS FROM A LARGE DATA SETS.
https://www.edureka.co/blog/ma
chine-learning-tutorial/

6. VIRTUAL ASSISTANT
VIRTUAL ASSISTANT, ALSO CALLED AI ASSISTANT, IS
AN APPLICATION PROGRAM THAT UNDERSTANDS
NATURAL LANGUAGE, VOICE COMMANDS &
COMPLETES TASKS FOR THE USER.
VA’S PERFORM SUCH TASKS:
SOCIAL MEDIA MANAGEMENT.
MANAGING CALENDARS, APPOINTMENT AND EMAILS.
PERSONAL TASKS LIKE BOOKING HOTELS AND
RESTAURANT.
https://searchcustomerexperien
ce.techtarget.com/definition/virt
ual-assistant-AI-assistant

7. VIRTUAL ASSISTANT
 VIRTUAL ASSISTANT ARE TYPICALLY CLOUD-
BASED PROGRAMS THAT REQUIRE INTERNET-
CONNECTED DEVICES OR APPLICATIONS TO
WORK.
EX- SIRI ON APPLE DEVICES, GOOGLE
ASSISTANT ON ANDROID DEVICES.
 USERS TASK VIRTUAL ASSISTANT TO MAKE &
RECEIVE PHONE CALLS, CREATE TEXT
MESSAGES, GET DIRECTIONS, HEAR NEWS &
WEATHER REPORT, FIND HOTELS OR
RESTAURANTS, CHECK FLIGHT, RESERVATIONS,
HEAR MUSIC AND PLAY GAMES.
https://searchcustomerexperience.techtarget.c
om/definition/virtual-assistant-AI-assistant

8. BRIEF ABOUT INDIAN BANKS
INDIAN BANKING ORIGINATED IN THE FIRST DECADE OF 18TH CENTURY.
BANK OF HINDUSTAN WAS THE FIRST BANK IN INDIA WHICH STARTED IN 1770 AND
LIQUIDATED BETWEEN 1829-32.
THE OLDEST BANK STILL IN EXISTENCE IN INDIA ORIGINATED AS THE BANK OF
CALCUTTA IN JUNE 1806. BANK OF BENGAL, BANK OF BOMBAY AND BANK OF
MADRAS MERGED IN 1921 TO FORM IMPERIAL BANK OF INDIA, WHICH WAS
CONVERTED AS SBI IN 1955.
INDIAN BANKING SECTOR CLASSIFIED INTO SCHEDULE AND NON-SCHEDULE BANKS.
EX OF:- SCHEDULE BANK- CANARA BANK, BANK OF INDIA
EX OF:- NON- SCHEDULE BANK- AKHAND ANAND CO-OPERATIVE BANK LTD,
CAPITAL LOCAL AREA BANK LTD
https://en.wikipedia.org/wiki/Banking_in_

9. CUSTOMER CARE IN INDIAN BANKS:
THEN
 TEDIOUS/MANUAL BANKING
SERVICE:
IF SOMEONE HAS QUERY RELATED TO
BANK ACCOUNT, GO FOR BRANCH.
 PAPER-PROCESSING MACHINES &
RELATED TOOLS:
A LOT PAPER WORK AND TIME-
CONSUMING.
 LOADS OF PAPERWORK:
WRITING LETTER OR REPORTS AND
KEEPING RECORDS.
NOW
 EASY-TO USE VIRTUAL BANKING
SERVICES:
NOWADAYS, IF CUSTOMER HAS QUERY AND
PERFORM A TASK CAN DO IT ONLINE.
 ONLINE TECHNOLOGY, ATM, MOBILE &
SOCIAL BANKING:
NO MORE NEED GO FOR BRANCH.
 PAPERLESS SERVICE:
STORE INFORMATION AND COMMUNICATE
WITH EACH OTHER USING COMPUTERS,
RATHER THAN PAPER.
https://www.slideshare.net/careerbuil
derin/the-evolution-of-indian-

11. CUSTOMER SERVICE IN SPECIFIC
CASES
CUSTOMER SERVICE IS THE DIRECT ONE-
ON-ONE INTERACTION BETWEEN A
CONSUMER MAKING A PURCHASE &
REPRESENTATIVE OF THE COMPANY THAT IS
SELLING IT.
CUSTOMER SERVICE RESPONDS TO
CUSTOMERS QUERY IN A THOROUGH &
TIMELY MANNER.
STATE BANK OF INDIA:- AN ACCOUNT
HOLDER CAN CONTACT THE SBI CUSTOMER
CARE TOLL-FREE NUMBER INCASE HE
ENCOUNTERS AN ISSUE OR WANTS TO GET
ANY INFORMATION.
 SBI OFFERS SMS & MISSED CALL BANKING
SERVICE:-
SMS to 567676 PIN Generates new ATM PIN
SMS to 567676 BLOCK Block your ATM card
https://www.paisabazaar.com/sbi-
bank/customer-care/

12. CUSTOMER SERVICE IN SPECIFIC CASES
 HDFC BANK:- IT HAS A 24/7 CUSTOMER CARE CENTRE
THAT OFFERS COMPLETE SUPPORT IN CASE OF ANY
QUERY, FEEDBACK OR PROBLEM FACED RELATED TO ANY
SERVICE.
NUMBER- 022- 61606161
 HDFC BANK CUSTOMER CARE ONLINE :- YOU CAN FILL
THEIR ONLINE QUERY/FEEDBACK FORM AVAILABLE ON
THE WEBSITE.
 HDFC CUSTOMER CARE GRIEVANCE REDRESSAL :-
- FILL THE GRIEVANCE REDRESSAL FORM AVAILABLE
ON HDFC WEBSITE WITH COMPLAINT NUMBER.
- YOU CAN CALL THEM ON : 1800224060
: 23625600
https://www.paisabazaar.com/hdfc-
bank/customer-care/

13. TECHNICALLY ENHANCE IN CUSTOMER CARE:
TOLL FREE NUMBER
INTERACTIVE VOICE RESPONSE SYSTEM
CUSTOMER FEEDBACK
CUSTOMER CAN GO TO TOP LEVEL, IF THEY’RE NOT SATISFIED

14. VIRTUAL ASSISTANTS IN BANK:
• VIRTUAL ASSISTANTS OR IVAS, THAT EMPOWER BANKS WITH SMART
SOLUTIONS FOR CONSUMER BANKING, WEALTH AND INVESTMENT.
• SMART SOLUTIONS HELP ENTERPRISES AND BANKS GAIN THAT AI-EDGE,
DRIVING BUSINESS GROWTH. BY UTILIZING INTELLIGENT VIRTUAL
ASSISTANTS WE ARE ABLE TO:
• IMPROVE CUSTOMER EXPERIENCES
• IMPROVE REAL TIME CUSTOMER ASSISTANTS THROUGH CHATBOTS
• EASY TO USE MOBILE APPS
https://interface.ai/solutions/ind
ustries/banking/

15. SOME EXAMPLES OF VA’S:
IN BANKING SECTOR: IN NON-BANKING SECTOR:
EVA: VA’s of
HDFC
AHA:VA’s of
AXIS
SIA:VA’s of SBI ENO: VA’s of
Capital One
DISHA:VA’s of IRCTC
YUVA:VA’s of
YATRA

16. VA’S IN INDIAN BANK
 “AXIS AHA!” IS A VIRTUAL BANKING ASSISTANT WHICH USES
AI AND MACHINE LEARNING TO HELP CUSTOMERS DO
TRANSACTIONS AND ANSWER THEIR BANKING RELATED
QUERIES.
 “AXIS AHA!” IS AVAILABLE ON AXIS BANK WEBSITE, AXIS
MOBILE APPLICATION OR ON AXISBANK.COM/SUPPORT.
 PROVIDES RELEVANT AND CONTEXTUAL RESPONSES TO
CUSTOMER QUERIES SUCH AS BLOCK CARD, CHEQUE BOOK
AND ACCORDING TO USER’S NEED.
 IT IS CAPABLE OF CRAFTING INTELLIGENT MICRO-
CONVERSATIONS TO GUIDE, EXECUTE, SUGGEST, REMIND
AND SIMPLIFY BASIC BANKING FOR THE CUSTOMER.
HTTPS://YOUTU.BE/URMMHAR0454
1. ‘AHA!’- VA’s of Axis Bank
https://ai.axisbank.co
.in/morfeuswebsdk/

17. 2. SIA: VA’S OF SBI
 SIA is designed to answer customer questions
regarding various loan & deposit
products.
 Home loans, education loans, car loans,
personal loans
 Recurring deposit, term deposits
 80% of transactions are non banking in
nature, which means no employee are
engaged with the customer for these
transactions. So this where SIA is of immense
help. Using audio and text, this Chabot guides the
customers to the most useful sections of the
website.https://www.ndtv.com/business/meet-sia-
sbi-s-ai-powered-chatbot-for-customers-

18. ENO- VA’S OF CAPITAL ONE
ENO IS A VIRTUAL ASSISTANT OF CAPITAL ONE. IT WORKS
24/7.
 WHAT IT DOES:-
• ENO PROVIDES INSIGHTS AND ALERTS ABOUT YOUR
MONEY.
• ENO HELPS USER SHOP SAFER AND EASIER ONLINE.
• ENO HELPS YOU MANAGE YOUR ACCOUNTS.
 ENO CAN “LEARN” CONSUMER BEHAVIOUR OVER TIME,
ADAPTING ITSELF TO AN INDIVIDUAL USER’S NEEDS
THROUGH PILOT PROGRAMME FOR 1,00,000 CAPITAL ONE
USER.
 ENO CAN EVEN UNDERSTAND EMOJI'S.
Virtual Assistant in Foreign
Bank:

19. CASE STUDY OF HDFC BANK:
HDFC BANK LTD. IS AN INDIAN FINANCIAL SERVICES
COMPANY WHICH WAS INCORPORATED IN AUGUST 1994.
 IT WAS RECEIVED ‘IN PRINCIPLE’ APPROVAL FROM THE
RBI TO SET UP IN PRIVATE SECTOR.
TIMES BANK LIMITED WAS MERGED WITH HDFC BANK
LTD WHICH WAS THE FIRST MERGER OF TWO PRIVATE
BANKS IN INDIA.
INTRODUCE INTERNATIONAL DEBIT CARD IN
ASSOCIATION WITH VISA.
https://v1.hdfcbank.com/htdocs/common/eva/index.html

20. CONTD…
HDFC BANK HAS LAUNCHED INDIA’S FIRST AI-
BASED BANKING CHATBOT ‘EVA’ FOR CUSTOMER
SERVICE.
EVA USES THE LATEST IN AI AND NATURAL
LANGUAGE PROCESSING TO UNDERSTAND THE
USER QUERY.
CUSTOMER FIND ACCORDING TO THEIR QUERY BY
INTERACTING WITH EVA IN HUMAN LANGUAGE
INSTEAD OF SEARCHING, BROWSING OR WAITING
ON A CALL.
EVA HAS ADDRESSED OVER 65 LAKHS QUERIES ON
CHAT BASED AND VOICE CHANNELS WITH OVER
85% ACCURACY.

21. CONTD…
EVA HAS BEEN INTEGRATED WITH GOOGLE
ASSISTANT AND AMAZON ALEXA
FOR EXAMPLE USERS JUST SAY “OK
GOOGLE, TALK TO HDFC BANK”.
EVA CAN ASSIMILATE KNOWLEDGE FROM
THOUSAND OF SOURCES AND PROVIDE
ANSWER IN SIMPLE LANGUAGE IN LESS THAN
0.4 SECONDS.
THE TECHNOLOGY BEHIND EVA WAS BUILT
AND IS MANAGED BY SENSEFORTH AI
RESEARCH PRIVATE LIMITED.
FIRST BANK TO OFFER VOICE BANKING

22. CONTD…
HDFC BANK ALSO LAUNCHED IRA WHICH IS ADVANCE
VERSION OF AI.
IRA IS INTERACTIVE HUMANOID IS AIM TO
ENHANCE USERS EXPERIENCE FOR CUSTOMERS
VISITING KORAMANGALA BRANCH IN
BENGALURU.
IRA INTERACT WITH CUSTOMERS TO SOLVE
THEIR QUERIES, FREQUENTLY ASKED QUESTION,
AND ALSO GUIDE THEM INSIDE THE BRANCH
WITH VOICE BASED NAVIGATION.
HTTPS://YOUTU.BE/5VJY1C8N1RK

23. VA’S IN NON-BANKING
SECTOR:
YUVA ALLOWS THE USER TO USE BOTH VOICE AND TEXT TO COMMUNICATE WITH
YUVA AND COMPLETE THE BOOKING ON THE GO.
YUVA ENABLES INTUITIVE CUSTOMER INTERACTION IN A RELATIVELY HUMAN-LIKE
WAY, ANSWERING QUESTIONS RELATED TO FLIGHT BOOKINGS AND PROVIDING
EXPERTISE IN REAL TIME.
 NO LONGER DO CUSTOMERS NEED TO SEARCH THROUGH CONTENT ON THE
COMPANY’S WEBSITE, INSTEAD THEY CAN NOW INTERACT DIRECTLY WITH YUVA
AND UNCOVER THE INFORMATION THEY NEED IN AN INSTANT.
HTTPS://WWW.YATRA.COM/ONLINE/YT-LAUNCHES-YUVA
1. YUVA: VA’s of
YATRA.Com

24. 2. DISHA: VA’S OF IRCTC
THIS NEW ASSISTANT WILL BE PROMPT IN ANSWERING GENERIC QUERIES ABOUT MOST
FREQUENTLY ASKED QUESTIONS ON THE TICKET BOOKING PLATFORM.
THE CHATBOT 'DISHA' IS UNABLE TO ANSWER MORE DETAILED OR PERSONAL QUERIES
LIKE DETAILS ABOUT TRAINS BETWEEN TWO PARTICULAR STATIONS OR EXACT PNR
STATUS BUT IT CAN DIRECT THE USER TO THE PAGE WHERE THE QUERY CAN BE
RESOLVED.
THE CHATBOT HAS VARIOUS PRESET QUESTIONS THAT POP UP WHEN THE USER STARTS
TYPING. IF THERE'S NO MATCHING QUESTION, THE USER CAN TYPE THE ENTIRE PHRASE
AND PRESS ENTER.
IF THE USER DOESN'T FIND RELEVANT INFORMATION, THEY CAN LEAVE FEEDBACK AND
EVEN DOWN VOTE THE SUGGESTIONS.

25. ADVANTAGES & DISADVANTAGES OF VA’S:
ADVANTAGES:
 SAVES TIME
 REDUCES COST
 UTILIZES OTHER STAFF BETTER
 ELIMINATES EMPLOYEE DRAMA
 FLEXIBLE WORKING
DISADVANTAGES:
 UNEMPLOYMENT.
 NOT ABLE TO MEET PERSON.
(IF THEY ARE A SIGNIFICANT DISTANCE
AWAY)
 MAY NOT RECEIVE ALL THEIR TIME OR
LOYALTY.
 HIGHLY DEFINED ROLE WITHOUT
VARIATIONS.
(UNLESS PROGRAMMED TO DO SO)

26. CONCLUSION:
• VA’S ARE A STEP FURTHER IN THE DIGITIALIZATION OF BANKING SERVICES
• FINANCIAL SECTOR INCLUDING BANKING HAS BEEN A QUICK ADOPTER OF NEW
TECHNOLOGIES THAT ENHANCE CUSTOMER EXPERIENCE
• SEVERAL PROGREESIVE BANKS AND FINANCIAL INSTITUTIONS HAVE ADOPTED OR ARE
IN THE PROCESS OF ADOPTING VA’S TO GET AN EDGE IN THE HIGHLY COMPETITIVE
BANKING INDUSTRY.
• VIRTUAL ASSISTANT ARE BECOMING SMARTER DAY BY DAY.
• WITH THE INTRODUCTION OF VOICE-ENABLED DEVICES, VA’S ARE GOING TO PLAY AN
IMPORTANT ROLE IN FUTURE ENHANCING THE BANKING EXPERIENCE OF
CUSTOMERS.THE COMPLETE TRANSFORMATION IS STILL GOING ON.

27. REFERENCES
 HTTPS://SEARCHCUSTOMEREXPERIENCE.TECHTARGET.COM/DEFINITION/VIRTUAL-ASSISTANT-
AI-ASSISTANT
 HTTPS://WWW.FORBES.COM/SITES/ILKERKOKSAL/2019/04/30/THE-9-STEPS-TO-BUILD-A-
GREAT-BANKING-VIRTUAL-ASSISTANT/#F6861FF7F8DB
 HTTPS://YOURSTORY.COM/2018/05/CONSUMER-BANKING-AI-VIRTUAL-ASSISTANTS
 HTTPS://WWW.FORBES.COM/SITES/FRANKSORRENTINO/2018/02/23/AI-BANKING-DITCH-
THE-FEAR-EMBRACE-THE-DATA/#182C8E387870
 HTTPS://DUE.COM/BLOG/BENEFITS-HIRING-VIRTUAL-ASSISTANT/
 HTTPS://WWW.VIRTUALASSISTANTUK.ORG/BENEFITS-OF-VIRTUAL-OFFICE-ASSISTANT/
 HTTPS://V1.HDFCBANK.COM/HTDOCS/COMMON/EVA/INDEX.HTML

28. REFERENCES
 https://www.livemint.com/Industry/68ipadKiLQwxGUKTxXd3pL/SBI-
launches-chatbot-to-help-customers-in-banking-services.html
 https://www.ndtv.com/business/meet-sia-sbi-s-ai-powered-chatbot-
for-customers-assistance-1745981
 https://digiqom.com/clientnews/hdfcbank/2017/03/hdfc-bank-
launches-chatbot-eva-for-customer-service/
 https://en.wikipedia.org/wiki/Banking_in_India
 https://www.businesstoday.in/technology/news/irctc-gets-aibased-
assistant-called-disha
 https://www.paisabazaar.com/sbi-bank/customer-care/
https://searchenterpriseai.techtarget.com/definition/machine-learning-
ML

29. Thank You!