Beyond Humans

Traditional banking industry is adapting to the fast evolving digital technology and making its products and services suitable for consumer needs.

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Gone are the times when long queues in banks and them closing early on Saturdays needed harried discussions. India’s banking sector has come a long way in realising and achieving feats that were left to one’s imagination. Automation has reached a stage where banking no more needs humans to do things that once were their prerogative.

Many today will not believe that till a decade ago, most people would rush to the bank every month, and some every week to deposit or look at their bank balances. A lot has changed with the advent of app based transactions; life seems easier. Indian banks have undergone a sea change since demonetisation and the development of apps and other cashless digital features, redefining the way one banks. The changes have occurred at both back-end and frontend operations.

Enter robots

Robots and humanoids are changing the face of banking with the emergence of virtual reality and artificial intelligence. There are several humanoids today managing various automated tasks at bank branches on their own. These interfaces can answer more than 125 subjects related to banking that are commonly sought by account holders. Information regarding account balance, interest rates on home loans, deferred payments or possible charges to be incurred on fixed deposit closure among others are some of the queries to which these answer with aplomb.