Mashreq Bank, Avaya partner to introduce an intuitive banking bot

The new system enables the bank’s customers to access banking services and complete service requests almost entirely through an artificial intelligence-powered (AI) agent

  
People walk past Mashreq bank in Dubai, United Arab Emirates July 26, 2017. Image used for illustrative purpose

People walk past Mashreq bank in Dubai, United Arab Emirates July 26, 2017. Image used for illustrative purpose

REUTERS/Nawied Jabarkhyl

UAE - Mashreq Bank has partnered with Avaya and Koopid to introduce the region’s first digital engagement banking bot—a new banking experience that represents a giant leap forward in enhancing customer experience.

Avaya started that the ‘chatbot agent’ will be able to verify customers, complete transactions and sign up for new services on the customer’s behalf.

Sumit Bhatia, the Head of Direct Business Channel at Mashreq Bank, said, “The new chatbot will not only play a role in transforming banking self-service, but also will make banking more intuitive, easy to use and enjoyable when it comes to performing tasks such as inquiring about your balance on an account, or requesting a statement or applying for a product.”

Additionally, the solution paves the way for the lender to open new channels whilst allowing its customers to complete banking transactions.

“Virtual banking and rich visual automation experiences are the greatest disruptors for organisations and self-service-based industries,” said Venky Krishnaswamy, the CEO of Koopid.

The solution deployed by Mashreq is among many innovations that Avaya is showcasing at GITEX Technology Week 2019.

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