Bengaluru startup Vernacular.ai, an AI-based SaaS voice automation platform, partnered with Axis Bank to optimise voice AI solutions and help automate customer interactions through intelligent human-like dialogue.
Being one of the earliest adopters of Voice AI technology, Axis Bank has already recorded massive success in resolving over 250,000 additional calls per month. With the integration of Vernacular.ai’s proprietary technology, the average call handling time has been significantly reduced, while enhancing overall customer experiences.
Axis Bank’s “AXAA” uses Vernacular.ai’s next generation multilingual voice AI platform built on top of VASR (Vernacular Automated Speech Recognition). VASR is a high-end STT (Speech-to-Text) technology that enables enterprises to convert audio to text by applying powerful neural network models in an easy-to-use API.
On that note, Sourabh Gupta, CEO and Co-founder, Vernacular.ai comments, “We are very excited to partner with Axis Bank on their digital journey to provide a first of its kind banking experience to millions of its customers across India. An early adopter of new technologies, Axis Bank is known for its customer-centric approach to innovation. Our voice AI platform will help Axis Bank offer its customers a superior engagement experience, in a language that they are comfortable with, and resolve more issues, with no more wait times. Voice is the future of human interface with machines, and our technology is the most advanced and accurate voice AI platform for Indian language speech and dialects.”
Speaking on the launch, Mr. Ratan Kesh, Head of Retail Operations and Service, Axis Bank said, “Our objective is to re-define the role we play in the life of our customers, by elevating digital banking to new domains of customer service. These initiatives are part of the Bank’s goals and priorities, as outlined in its strategy based on the three vectors of (GPS) Growth, Profitability and Sustainability. This new technology will not only enhance customer experience, but will also increase efficiency of our contact centre operations. More importantly, it will help our employees focus on more complicated queries and requests from customers, thereby improving productivity while enhancing overall quality of customer experience. “AXAA” will work side by side with expert customer service officers in delivering consistent and superior experiences to customers. “AXAA” will also enable us to incorporate more automated self-services on IVR and bring the customers closer to adopting the digital platforms.’’
