IIT Madras Research Park (IITMRP) and IIT Madras

Solution

IIT Madras Research Park (IITMRP) and IIT Madras Incubation Cell (IITMIC) have joined hands with Reserve Bank Innovation Hub (RBIH) to work on creating voice-driven banking solutions. The objective is to address the language barriers, a key challenge in financial inclusion for millions of Indians. The voice-based banking solution aims at performing basic banking transactions through voice-commands in the Indian languages of Hindi, Tamil and Telugu to start with, in addition to English. The innovation will assist people who are illiterate and visually impaired, in their banking services and help the underbanked population in overcoming language barriers during their banking activities. Marking the collaboration, IITMRP, IITMIC and RBIH, in partnership with leading banks, SBI, Axis Bank, Kotak Mahindra and IDFC First conducted the voice banking hackathon ‘Vaulter Voice’ at the IIT Madras Research Park campus.