Yes Bank launches Facebook Messenger bot to help with load products

Yes Bank has launched a Facebook chatbot as more and more financial institutions adapt the latest technology like bots and blockchain. The chat bot, named 'YES MPower' is developed in partnership with Gupshup. According to the report by Medianama, the chat bot comes days after the banking giant started using Blockchain technology in partnership with Financial Tech start-up Cateina Technologies. The technology is being implemented to digitise vendor financing for .The current messenger bot is limited to the bank employees instead of general availability to the public. Bank employees can use it to check all the details about loan programs and plans without needing to learn all the details. This seems more of an internal training bot rather than a consumer facing bot. According to the record, there are no details on any plans to launch it to the public. The current iteration of the bot only gives information on the eligibility of the user for any particular loan.Currently, the services include Personal, Auto, Gold and Loan against securities as detailed in the report. YES Bank is currently working on developing a new system that will run on the UPI backend to streamline the payment systems.