The popular banking sectors in India Yes Bank have announced that the bank introduced an Artificial Intelligence-powered banking Chatbot ‘Yes mPower’ that instantly gives information about loan products. The bank on January 5th, 2017 tied up with Silicon Valley-based bot platform Gupshup to launch latest Chatbot ‘Yes mPower’ which is available through Facebook Messenger.

The CEO of Gupshup , Beerud Sheth in a statement said, “Artificial Intelligence-driven chats between brands and their consumers deliver customer experiences while lowering costs through automation”. With this newly launched ‘Yes mPower’, customers can get information about bank’s loan products like personal loans, car loans, gold loans and also loan against securities while products like used car loans, loan against properties and home loans will be added soon.

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Pralay Mondal, Senior Group President and Head, Yes Bank, said, “We are delighted to work with Gupshup to launch Yes mPower Chatbot that changes banking as we know it by offering an informal interface to the users.”

The Chatbot also enables instant communication with all investors so that customer’s requirement can be addressed immediately. Yes Bank introduced Chatbot-based banking in 2016 that allows customers to perform banking transactions on various messengers.

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So, finally the main objective of Yes bank to launch ‘Yes mPower’ Chatbot is to incrementally release more services through the bot, making Yes mPower is a main platform for all loan requirements.