I work at ValueFirst Digital Media Private Ltd. I am a Product Marketer in the Surbo Team. Surbo is Chatbot Generator Platform owned by Value First. ...

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I work at ValueFirst Digital Media Private Ltd. I am a Product Marketer in the Surbo Team. Surbo is Chatbot Generator Platform owned by Value First.

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SBI Card to leverage Artificial Intelligence, chatbots

By satyamkapoor |Email | Mar 28, 2018 | 10407 Views

SBI card, which is India's second largest credit card issuer, is soon going to make use of new age technologies like artificial intelligence to improve its customer experience of nearly 5.9 million users according to a top official.

Hardayal Prasad, Managing Director & CEO of SBI card said that they are going to come out with some major inventions on the technology front. They might bring chatbots, AI in order to benefit their customers immensely.

In his first interview after assuming charge of SBI Card in February this year, Prasad said SBI is not much concerned about the rapid progress made by digital payments products like e-wallets and UPI in the country's market.

Prasad added that in his view, the era of plastic cards will remain for some time in the country. E-wallets and UPI don't come as a threat at all to cards. He said that SBI is growing significantly as a card issuer. In fact, in the last year itself, SBI Card Universe grew by a staggering 80 percent.

Prasad said that SBI Card is looking at the development in the digital space as only opportunities and not as some kind of threat to the survival of plastic based physical cards. He went ahead and laid out five key strategic priorities that he will focus on in the coming days.

First, Prasad said that SBI wishes to remain a leader card acquisition; second is that they will continue to bring out excellent products to enamor customers; third will be pushing important technology improvements; fourth will be focus on profitability and also they plan to contribute to the growth of payments ecosystems in the country. He feels that currently the penetration of credit card in India is low and there is lot of scope for growth and SBI aims to make this experience accessible to as many people as possible.

Prasad feels that SBI is already nimble footed and will continue to invest in new technologies. If SBI does not make use of strong analytics and tweak products with changing time, the card industry is not going to survive.

Source: HOB