Thursday 2 February 2017

The #IRA of robotic banking is here

Digital processes have been a boon for banking and financial services industry. The introduction of automation has been a decade long practice which drastically reduced turn-around time and operational costs. The age of innovation was not merely a coincidence. Processes and operational costs were ever increasing the budgets were decreasing. The new wave of technology is making it easier, quicker and cheaper to automate. In addition, machine learning and cognitive capabilities has opened the door of automation for basic customer centric processes.


HDFC Bank, India’s premier private sector bank has entered in the field of robotic banking. IRA, an intelligent humanoid was introduced by HDFC Bank Kamala Mills Branch in Mumbai. IRA, which stands for Intelligent Robotic Assistant, will help branch staff in servicing customers. With this launch, HDFC Bank becomes the first bank in the country to introduce a humanoid for customer service.

IRA will be positioned near welcome desks to greet and guide customers to the dedicated counters. Customers can tap on display screen placed on IRA and select the service she wants to avail. IRA will personally assist you to the dedicated counter. In coming months, IRA would also assist customers on balance enquiry, mini statement and cheque deposits. In next phase, IRA would able to speak and understand regional languages for the ease of customers. Innovative features like voice recognition and face recognition are also in planning.

IRA is developed and designed in Kochi which is considered as hub of start-ups in India. The human sized robot was built together with Artificial Intelligence by Asimov Robotics. This interactive robot is in-line with government initiatives like Make in India, Digital India and Start Up India. HDFC Bank plans to introduce up to 20 humanoid robots in its branches in next 18 to 24 months.

We’re excited to announce the deployment of our first humanoid, IRA in the Kamala Mills branch. IRA is quite unique and will serve as a technology demonstrator in the field of artificial intelligence and robotics,” said Mr. Nitin Chugh, Country Head, Digital Banking, HDFC Bank at the launch event in Mumbai.
For financial institutions in challenging market, use of robots in repetitive and compliance driven work will improve reliability, quality, scalability and reduce costs. Robots as seen in Sci-Fi and animated movies will soon become part of our daily lives. Humanoids like IRA drive high on the ‘awww factor’. The more automation and reliability banking can bring into customer experience will define the industry’s success for many years to come.
- Chaitanya Kulkarni

19 comments:

  1. On Demand Access to Statements - offshore internet banking gives you instant access to your statements where you can view your activities on a real time basis. This includes past and pending deposits and withdrawals.diploma in Islamic banking

    ReplyDelete
  2. Very efficiently written information. It will be beneficial to anybody who utilizes it, including me. Keep up the good work. For sure i will check out more posts. This site seems to get a good amount of visitors. robotic process automation

    ReplyDelete
  3. Hey, I am so thrilled I found your blog, I am here now and could just like to say thank for a tremendous post and all round interesting website. Please do keep up the great work. I cannot be without visiting your blog again and again. Sistema de Conciliacion Bancaria

    ReplyDelete
  4. I was reading some of your content on this website and I conceive this internet site is really informative ! Keep on putting up. Promerica

    ReplyDelete
  5. howdy, your websites are really good. I appreciate your work. buy instagram likes cheap paypal

    ReplyDelete
  6. We have made extraordinary steps with regards to mechanical technology. However, where we've come at a stop is the absence of help to the robots with regards to finding the area. simultaneous localization and mapping

    ReplyDelete
  7. This comment has been removed by the author.

    ReplyDelete
  8. This article gives the light in which we can observe the reality. This is very nice one and gives indepth information. Thanks for this nice article. chen zhi cambodia

    ReplyDelete
  9. Very informative post! There is a lot of information here that can help any business get started with a successful social networking campaign. neak oknha chen zhi

    ReplyDelete
  10. Nice post! This is a very nice blog that I will definitively come back to more times this year! Thanks for informative post. prince holding group

    ReplyDelete
  11. This money is lent through an accounting entry however, interest rate does not exist as money in any form, it is just on the loan contract obligations. myprepaidcenter

    ReplyDelete
  12. You there, this is really good post here. Thanks for taking the time to post such valuable information. Quality content is what always gets the visitors coming. cambodia prince chenzhi

    ReplyDelete
  13. This is my first time visit to your blog and I am very interested in the articles that you serve. Provide enough knowledge for me. Thank you for sharing useful and don't forget, keep sharing useful info: Slice invite code

    ReplyDelete
  14. There are literally millions of people posting video content to social networking sites on a daily basis. Many are finding that getting eyeballs on their videos is not necessarily easy. Yes, there are some viral videos out there that seem to make it look easy, but for every one person that is getting millions of views, there are many others that get no views at all. buy youtube views

    ReplyDelete
  15. So you may have started posting videos on YouTube and the only person that has seen it yet is your friends and yourself. This will not help you to get that video ranked better. You have to do a little bit more. You have to reach out to others and build your subscription base in YouTube so that you can get more views, comments, ratings and feedback. How you do this is a very easy process, but you must know how to do it properly so that you don't get banned from YouTube. https://www.buyyoutubeviewsindia.in/youtube-marketing/

    ReplyDelete
  16. I’m going to read this. I’ll be sure to come back. thanks for sharing. and also This article gives the light in which we can observe the reality. this is very nice one and gives indepth information. thanks for this nice article. hom eow ners ins

    ReplyDelete
  17. An examination of the construction of the banking area works with an enthusiasm for the basic powers in the business.
    Authentic Background. Wiliams Loans Wandsworth Interest Only Lifetime Mortgage

    ReplyDelete
  18. Robotic Toy is a toy. It is not just another teaching tool. But teachers can use it as teaching tool. Children love to play with it. depalletizing robot

    ReplyDelete