Yes Bank has this week announced a collaborative partnership with Silicon Valley-based artificial intelligence platform, Payjo, for the development of the ‘YES Pay Bot’.

India’s Yes Bank and fintech platform Payjo are partnering to deliver the first based artificial intelligence (AI) driven bot for a wallet, and is calling it the YES Pay Bot.

Yes Bank senior president and country head, digital banking, Ritesh Pai, said the bot would carry out financial transactions, answer banking queries, give real-time transaction insights and had been powered as a personalised banking assistant.

“Given that these ‘humanised’ Bots can act as intelligent assistants, we are also working on various use cases for our employees to enable them with information about the Bank’s policies and new initiatives,” he said.

“Yes Bank is glad to partner with Payjo to introduce AI-powered Bots offering financial transactions capabilities to customers in an intuitive manner to improve their banking experience.”

Payjo founder and chief executive, Srinivas Njay, said the bots would prove a popular new offering, after research showed nearly a quarter of apps installed are discarded by customers after first use.

“Instant and personalised customer assistance is becoming the new norm in CX. The experience offered through Payjo will make banking services for customers more accessible and fun, leading to more financial literacy in India,” Njay said.

“[Customers] are bound to benefit immensely from our cutting-edge solution.”