Bank of Baroda introduces a GenAI virtual relationship manager and new payment app among 10 digital initiatives.
Bank of Baroda unveiled ten digital initiatives on its 117th Foundation Day, including a GenAI-powered virtual relationship manager and a new payment app. These advancements aim to enhance customer service across retail, agriculture, and corporate banking sectors.
The standout feature is the Virtual Relationship Manager (VRM), a pioneering move among public sector banks. This AI-driven tool offers real-time information on the bank’s products and services, helping customers with everyday needs like account statements, chequebook requests, and debit card issues. The VRM, which will be released in phases, supports multiple languages and can be accessed via video, audio, and chat interfaces.
Another significant launch is the bobइPay UPI Payments PSP app, featuring Scan to Pay, Send/Receive Money, UPI LITE, RuPay Credit Card on UPI, and international payments. It also includes a “Tap and Pay” contactless method using NFC technology and UPI Global Functionality for seamless international transactions. The app will be available on Android and iOS in August 2024.
Additional initiatives include simplifying IMPS payments on the bob World app, introducing BOB Credit Line on UPI starting with the Baroda Kisan Credit Card (BKCC), and launching Digital BKCC with RBIH. The bank also launched a co-branded Travel Debit Card with EaseMyTrip, the Baroda mDigiNext Mobile App for corporate customers, and the bob World Wave Smart NFC Sticker for secure payments.
The Customer Contact Centre now features a Voicebot in 11 languages, an IVR system in 15 languages, and a dedicated desk for senior citizens, blending self-service with traditional banking.