Active.Ai powers Arya, by HDFC securities Ltd., pioneering investing through Conversational AI
MUMBAI, India, July 10, 2019 /PRNewswire/ — HDFC securities Ltd, introduces Arya, a market first Conversational AI-powered concierge empowering customers to manage their investments from anywhere on their mobile or internet-enabled devices via simple natural dialogues.
Active.Ai powers Arya, by HDFC securities Ltd. Pioneering investing through Conversational AI
Indian financial services are witnessing a tectonic shift to digital adoption. With over 500 million smartphone owners and 4g connectivity driving data, digital financial services are set to take off. Capital markets are seeing increasing participation from millions of mobile-enabled middle-class investors who are seeking to participate in newer asset classes and a buoyant stock market, which is reflecting a high growth economy. The industry, which is currently estimated to have over 6 million customers, is anticipated to grow at double-digit pace with digital purchases of direct equity, gold, equity, and debt mutual funds.
Nandkishore Purohit, Head – Digital Business and Strategy at HDFC securities added, “We are on the journey of building a fully capable conversational investing experience. Right now we support features such as: Investing in equities or mutual funds, tracking stock prices, Portfolio performance, stocks and mutual funds recommendations and Queries related to products and platform. We are also providing IPO applications on the chatbot. Millennials are one of our key target audiences who are very active on their social media handles. Through Conversational Investing we want to take our value proposition to them on platforms which they are conversant and comfortable with. We want to de-jargonize capital markets and make the process of investing in a social experience.”
Some example of conversational questions which you can ask Arya:
- What is the stock price of Infosys?
- Buy 50 shares of Wipro
- How is my portfolio doing?
- Start a SIP of 5000Rs in HDFC tax saver fund
- Which stock should I invest?
- Apply for IPO
Powered by Active.Ai’s cutting edge AI engine, TRINITI, institutions can now dialogue digitally with their consumers, understand their intent, be contextually aware, handle multiple instructions in a single string and handle acronyms or slang in a delightful manner. Over ten leading institutions across the world handle millions of interactions across simple and complex banking conversations on TRINITI today with a very high accuracy rate. With valuable feedback from clients, Active.Ai has made this platform immensely scalable and quick to deploy. They believe this revolutionary platform will make it accessible for every financial institution to embrace conversational AI and deliver a great service experience.
Ravishankar, CEO of Active.Ai, said, “It’s a privilege for Active.Ai to partner HDFC Securities, a leader in stockbroking in India in this award-winning Conversational AI driven digital trading platform. We were inspired by the team’s vision to empower every investor with the knowledge and convenience to invest in various classes of assets from their smartphone or even from social media channels like FB messenger. We believe “Arya” is one the world’s first Conversational Financial Virtual Assistants to enable investing across equities, mutual funds and other asset classes.”