SBI Mutual Fund, one of India’s largest asset management companies, introduced a new AI-powered chatbot named ‘SBIMF SmartAssist’. The chatbot works through WhatsApp, aiming to make mutual fund investing easier, smarter, and more accessible for millions of investors.
How SmartAssist Works
Investors can now access SmartAssist by just sending “Hi” to +91 98336 57657 on WhatsApp, no app downloads or logins required. This AI-powered chatbot can answer queries about mutual fund products, help start SIPs, track existing investments, compare fund performance, and guide users through the entire investment journey all through a simple chat.
AI-Powered, Easy as Chatting with a Friend
SmartAssist uses AI and Natural Language Processing (NLP) to create a casual, conversation-like experience for mutual fund transactions across the WhatsApp channel.
It provides user-friendly responses with simple language and visuals, supporting users to set up SIPs, track and compare portfolio performance, etc., originally budgeting existing fund transactions, without having to provide a link to our website or refer users to download our app.
24×7 Availability, No Advisors Needed
The continuous access to SmartAssist is among its biggest benefits. Investors no longer have to adhere to regular business hours or deal with a human agent. The chatbot is available 24/7 to respond to questions about investment options, provide fund information, or facilitate a transaction anytime, anywhere.
The Goal
At the launch, Nand Kishore, MD & CEO of SBI Mutual Fund, emphasized that SmartAssist is designed to make investing simpler and smarter through technology. Executive Director Srinivas Jain added that it’s more than just a chat service; it’s a full-fledged AI assistant guiding users through every step. By leveraging WhatsApp’s massive reach, SBI MF hopes to bring digital investment tools to over 800 million Indians.
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