May 11 is National Technology Day, celebrating India’s advances in science and technology that are paving the way to a digitally pioneering and prosperous future.
In an exclusive conversation with ETCIO, Mahesh Ramamoorthy, CIO at YES Bank, which is at the forefront of promoting a culture of innovation, shares its AI strategy to transform the customer journey.
Mahesh Ramamoorthy is committed to using technology to improve the experience, improve decision-making, manage cyber threats and build customer trust. “Technology is gradually improving every aspect of banking, improving customer experiences and simplifying interactions. It also increases cost efficiency and productivity. As a financial institution, maintaining data security is crucial to ensuring customer trust. On National Technology Day, I emphasize that we employ technology to improve experiences, make informed decisions, better manage risk and strengthen trust,” explains Ramamoorthy.
Transforming customer communication thanks to artificial intelligence
Ramamoorthy uses generative artificial intelligence to revolutionize customer communications at YES BANK. Through strategic partnerships with leading OEMs, the bank implements pioneering solutions to improve business processes and customer engagement.
One pioneering project involves using artificial intelligence to analyze customer personas, tailor products and communications based on individual spending patterns and lending behavior. This approach ensures that communications and offers are highly targeted, which fosters stronger relationships and increases customer satisfaction.
Moreover, generative AI is used to improve interactions between employees and customers in branches, using data to provide precise geographic and historical insights, which enhances the bank’s ability to offer targeted insights tailored to each customer’s specific needs and preferences.
