On March 17th, we had the incredible opportunity to meet with the Governor of the Reserve Bank of India, Shaktikanta Das, to showcase the latest advancements in AI-assisted banking with Feddy, a product developed by Riafy Technologies.
As the banking industry rapidly evolves with new technology and customer expectations, it’s essential to engage with key stakeholders such as the Reserve Bank of India to discuss the future of banking. Our meeting with the Governor provided us with valuable insights and feedback and an opportunity to showcase Feddy and its potential impact on the industry. Feddy is an AI-powered virtual assistant that revolutionises how customers interact with their bank. With its recent launch on smartwatches, Android Auto, and a dedicated app, Feddy proactively reaches out to users to offer help for things like fastag recharge, fraud detection and prevention, bill payments, and more. Feddy’s natural language processing capabilities make it easy for customers to conduct banking transactions using their voice.
During the meeting with the Governor, we demonstrated Feddy and its features to him. The Governor was impressed with the product and asked us about the security aspects of Feddy. We outlined the various steps we take to ensure the safety and security of banking transactions conducted through Feddy, including encryption, multi-factor authentication, and adherence to RBI guidelines.
His lecture on the current macroeconomic scenario and impending recession was impressive and thoughtful.
Assessing risk and planning for an uncertain future is very important at this point in time for the global economy.
On a closing note, the potential of AI-assisted banking is vast. With products like Feddy, Riafy is just scratching the surface of what’s possible. The Governor expressed his optimism for the future of banking with AI, and we share that sentiment. With the collaboration between industry leaders like Federal Bank and Riafy Technologies, the future of banking looks bright.
