It was a pleasant shock for the co-operative sector in the country when the news of Karnataka based Multi-State Cooperative Society-Tumkur Merchants Credit Cooperative Limited (TMCC) leapfrogging to AI-era, bypassing digital era, grabbed the headlines.
TMCC, one of the fastest-growing financial institutions in the country with over Rs.1,000 Crore in assets, aims to offer Artificial Intelligent powered banking experiences to all its customers through the partnership with Interface, a global Intelligent Virtual Assistant (IVA) provider for Financial Institutions.
In this first-of-a-kind initiative among cooperative societies in India, TMCC aims to leapfrog customer service from only occurring at physical branches to an AI-first customer service approach, essentially bypassing traditional digital experiences offered by financial institutions.