Tata Capital, the financial services arm of the Tata Group, unveiled its Artificial Intelligence (AI) based online Chatbot which, through its unique natural language and cognitive learning capabilities, understands and provides a response to individual online queries around its financial services products.
Powered by a virtual agent (VA) engine, the online Chatbot represents a huge step forward by Tata Capital towards digitizing the customer journey, both qualitatively and quantitatively. The Chatbot is equipped to handle over 70% of the routine customer queries including product information, application tracking and sales & after-sales service. This will not only reduce the dependency on traditional customer servicing platforms, but also enable a better customer experience. The Chatbot’s evolving data insights will also help Tata Capital track & measure customer queries, sentiments, satisfaction and more and will help Tata Capital devise a more customer-centric strategy.
Since its launch in October 2016, the Tata Capital Chatbot has already responded to over 55,000 queries from website visitors across India. Currently, the Chatbot services Tata Capital’s retail products including Personal Loans, Home Loans, Car Loans, Business Loans and Two Wheeler Loans.