Bhaasa is powered by speech recognition that can converse in 10 languages across 80+ dialects
spocto, the world’s leading debt support and risk mitigation platform announced its strategic partnership with KisanServ, a prominent AgriTech company based out of Pune, for the deployment of spocto’s AI driven multilingual voice bot ‘Bhaasa’. Through Bhaasa, Kisanserv would be able to communicate across different languages in real-time with thousands of farmers across 4 states.
Developed within spocto X platform, Bhaasa is a multilingual AI voicebot that communicates in regional dialects and languages, with context recognition capabilities. Powered by Natural Language Processing (NLP), Bhaasa can be integrated with the recovery interface and reduce human intervention, thus saving 30 per cent in resource cost every year for the lenders, while improving the customer experience for delinquent customers by over 47 per cent.
“The agricultural sector holds great significance not only for the government but also for banks. Given our extensive experience in the agricultural domain with banks, we enthusiastically embraced the challenge presented by kisanserv in a different world of agritech. We have developed modules in four languages – Marathi, Hindi, Gujarati and Kannada. This endeavour reflects our commitment to serving the needs of farmers and underscores the importance we place on the agricultural sector and its application to any industry,” said Sumeet Srivastava, CEO & Founder, spocto.
To make Kisanserv communication easily accessible and effective to Indian farmers, even from the remotest parts of India, Kisanserv partnered with spocto to develop a specific module that will solve their use case.
Acknowledging the same, Praveen Tiwary, Co-Founder & CTO, KisanServ, said “On our supply side, We work with thousands of farmers on a daily basis about their produce, and our operations. The challenge is always the variety of languages and the quantum of people we work with daily which leads to efficiency issues. And on our demand side, we have to talk to retail customers across metro cities as we have numerous retail outlets in Maharashtra. We wanted a great uniform communication experience on both sides of the spectrum irrespective of different communication strategies. It’s been a great experience so far with spocto developing 2 different communication strategies for both sides that have led to significant savings for us and led to a great customer satisfaction index when we looked at our feedback score.”
Bhaasa built within the spocto X platform is amongst the first of the many creations of the spocto innovation lab (SIL). SIL was launched late last year and is India’s first innovation lab dedicated to the debt collection segment of banking industries in India and the Middle East. Through an expedited method, SIL is intended to speed the development of disruptive technologies such as AI/ML, big data, data security, and so on. SIL is working with all participants in the collecting ecosystem to prepare for the future by taking a digital-first strategy. Being an NLP collection voice bot with human-like engagement, Bhaasa is powered by speech recognition that can converse in 10 languages across 80+ dialects.
