12:28 pm
What’s the story
SBI Mutual Fund has launched SmartAssist, an AI-powered conversational assistant on WhatsApp.
The innovative tool is designed to simplify mutual fund investing through a chat-based interface.
It enables users to begin a Systematic Investment Plan (SIP), check their portfolio, compare funds, and resume investments directly on WhatsApp.
The service is available 24/7 and uses natural language processing (NLP) to understand and respond to user queries effectively.
Tech integration
SmartAssist brings power of AI to investors
Nand Kishore, Managing Director and CEO of SBI Mutual Fund, said that “SmartAssist brings the power of AI directly to our investors.”
He further emphasized that this initiative is part of a larger effort by the company to improve customer experience via technology.
The chatbot presents information in a conversational manner, making it easier for users to grasp basics of mutual funds, and manage their investments without having to navigate through websites or apps.
User experience
More than just basic chat support
Srinivas Jain, the Executive Director and Chief of Strategy, Digital & Technology at SBI Mutual Fund, said that the service is more than just basic chat support.
He described SmartAssist as “a full-cycle investment companion built to provide an intuitive and enriched experience.”
The chatbot also includes visual cues within the chat to simplify complex financial concepts for users.
Language
Currently available only in English
Currently, SmartAssist is available only in English. However, SBI Mutual Fund plans to introduce support for regional languages in the near future.
This move is aimed at reaching a wider audience and making digital investing more accessible across India.
To get started with this innovative tool, users can simply message SBI Mutual Fund’s official WhatsApp number and follow on-screen prompts.