Payjo-Powered SBI SIA is Setup at an Unprecedented Scale in the AI and Banking Industry

Payjo has launched SBI Intelligent Assistant or SIA, an AI-powered chat assistant that addresses customer enquiries instantly and helps them with everyday banking tasks just like a bank representative. With SIA, SBI will reduce significant operational expenditure over time.

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Since launch, SIA has responded to millions of queries from thousands of customers. SIA is setup to handle nearly 10,000 enquiries per second or 864 Million in a day. That is nearly 25% of the queries processed by Google every day.

Setting up the AI platform for State Bank of India, the world’s largest bank with 420 Million customers is nothing short of an engineering marvel. Payjo’s architecture was diligently calibrated to seamlessly scale up to such magnitude. Deployment of this size is a first of its kind in India and even across the world, such instances are few and far between. Payjo’s over 20 years of expertise in large enterprise financial systems has made it possible for a successful launch.

SIA continuously learns with each interaction and gets better over time. Currently, it can address enquiries on banking products and services. It is trained with a large set of knowledge and is adept at answering frequently asked questions as well.

Commenting on SIA, Srinivas Njay, Founder and CEO of Payjo adds, “India’s banking infrastructure is light years ahead compared to the western world. The largest public sector bank of the country adopting Artificial Intelligence in a matter of few months is not an easy task. The credit goes to the progressive team at SBI and the continued Digital India push from our honourable PM Narendra Modi. SIA is a revolution in the banking industry. It is set to disrupt the way banks and customers interact.”

Shiv Kumar Bhasin, CTO of SBI added, “SIA is a perfect example of ground-breaking banking application in Artificial Intelligence and Conversational Banking. It will enhance customer service several notches above and Payjo’s expertise in the conversational banking domain helped us build SIA as a superior chatbot in the global banking space. We look forward to taking SIA and simplifying customer’s lives on multiple customer interaction platforms in partnership with Payjo.”

SIA can be accessed through SBI’s portal (https://www.onlinesbi.com). Payjo is working towards making SIA available across multiple customer touchpoints like mobile, IVR, SMS and Social Media platforms. SIA will also be equipped to interact in most regional languages of India.

About Payjo

Payjo (https://www.payjo.co) - Based out of Silicon Valley and Bangalore, Payjo’s AI Banking platform powers top banks worldwide and facilitates 24x7 real-time automated assistance. It enables every conversation to be highly personalized, intelligent and secure.

Payjo is CERT-In certified for security and compliance and also adheres to RBI regulations as well as the Information Technology Amendment Act of India.