YES Bank CIO Mahesh Ramamoorthy unveils AI strategy

May 11 marks National Technology Day, celebrating India's strides in science and technology that pave the way for a digitally innovative and prosperous future.

In an exclusive interaction with ETCIO, Mahesh Ramamoorthy, Chief Information Officer at YES Bank, who is at the forefront of promoting a culture of innovation, outlines his AI strategy aimed at transforming the customer journey.

Mahesh Ramamoorthy is committed to leveraging technology to enhance experience, streamline decision-making, manage cyber risks, and build customer trust. "Technology is progressively enhancing every facet of banking, improving customer experiences and simplifying interactions. It also drives cost efficiencies and productivity. As a financial institution, maintaining data security is crucial to ensuring customer trust. On National Technology Day, I emphasize our use of technology to enhance experiences, make informed decisions, manage risks better, and strengthen trust," explains Ramamoorthy.

Transforming customer communications with AI

Ramamoorthy is employing Generative AI to revolutionize customer communications at YES BANK. Through strategic partnerships with leading OEMs, the bank is implementing innovative solutions that enhance business processes and customer engagement.

One innovative project involves using AI to analyze customer personas, tailoring products and communications based on individual spending patterns and credit behaviors. This approach ensures that communications and offers are highly targeted, fostering stronger relationships and enhancing customer satisfaction.

Furthermore, Generative AI is being used to streamline interactions between employees and customers at branches, utilizing data to provide precise geographic and historical insights, which enhances the bank's ability to offer targeted insights tailored to each customer’s specific needs and preferences.