Ad Here  
Why priority status? Stage set for Indian ‘avatar’ of foreign banks Thirty more cities seek to become SMART Cautious and considerate Another route for achieving financial inclusion The paradox: clamour for the Goliath and David Grows Bigger Targets continue to be ad hoc Financial inclusion vs unclaimed deposits Ferrying digital banking to Lakshadweep Small is ‘more’ beautiful Growing volume of stressed assets… Banking in Telangana Banking overhauling or reorganisation? Well-lived... Payment banks have arrived How ‘secure’ are the secured loans? A new development bank rising in the east… Holy or unholy? Cut in repo rate – lower than expected Greet Lakshmi the banking robot Aadhaar, niraadhaar and banking Reaching the Unreached… Too big to fail and too small to sail Merger mania haunts banks Who is the real beneficiary? All that glitters is not gold... Growing gainfully Lacklustre credit expansion What is the priority – mergers or NPA reduction? Cradle of banks to a smart city... Good, bad and ugly Governance in Reverse Gear? One down in private sector Emerging crisis It’s a war on black money, support it. How okay are new banks? A bank for women, by women A development bank for BRICS Rationalised United India Insurance - Rs 110 crore losses have been claimed till now due to floods in Tamil Nadu Mega merger is on Two banks: their jubilees and performances Drastic decline in asset quality Bank deposits account for 46.3 per cent of household savings The collaboration suite of cyber criminals LVB- A supermarket of financial services Ernakulam excels... Small finance banks offer high interest rates Indian customers are tech savvy Insatiable appetite for credit Perhaps small is more beautiful than big! Smart banking in smart cities Fund healthcare clinics in villages... New capitals of Migrant banks Nothing much can happen…. Why any time money? Monetary policy continues to adopt dis-inflationary path Hesitancy in announcing year-end results Needed a Banking Atlas New bank licences, at last... Just 660 days! Target over-ambitious... From lazy banking to easy banking Small finance payment banks... Managing NPAs... Banking on Risk Anytime banking to anywhere banking Bottomlines shrink, bad loans rise... Big bank merger, bigger expectations Reaching out: is it slowing down? Capital base of regional rural banks raised Drop in SLR- sparing lendable resources
Greet Lakshmi the banking robot

The Indian banking scenario has changed massively. From waiting in long queues, we have moved to sophisticated machines that perform several of our day-to-day banking tasks. Taking this to the next level, the Kumbakonam based City Union Bank has launched Lakshmi, the artificial intelligence powered robot that will answer your queries based on more than 125 subjects.

Lakshmi can answer any questions relating to account balance, home loan interest, and closure of fixed deposit. Adding to that, she is connected to the core banking system. This will enable her to display details like transaction history, account details etc. “Sensitive financial information like account details are displayed discreetly on the robot’s screen and not voiced,” said N Kamakodi, MD and CEO. Currently, Lakshmi speaks only English and the artificial intelligence system helps it constantly learn from various interactions with customers. If Lakshmi is unable to answer a question, she directs the customer to the Branch Manager. These unanswered questions are captured at the back-end, analysed and better data sets are fed to equip her.

The robot is assembled by Vishnu Engineering, a Coimbatore based firm. It will soon be trained to greet customers in Tamil. Currently, there is only one model of Lakshmi at the T Nagar Branch and the bank has plans to roll out 25 – 30 more by the end of the year based on the success. 

Author :
Reported On :
Sector :
IE, the business magazine from south was launched in 1968 and pioneered business journalism in south. Through the 45 years IE has been focusing on well-presented and well-researched articles. When giants in the industry stumbled to keep pace with the digital revolution, IE stayed affixed embracing technology.
Read more
Economist Communications Ltd is committed to ensuring that your privacy is protected.
Read more
You agree that your use of this Website and the purchase of the magazine will be governed by these terms and conditions.
Read more
S-15, Industrial Estate,
Chennai - 600 032.
PHONE: +91 44 22501236