THE MUTHOOT GROUP BECOMES ONE OF THE FIRST IN THE NBFC SECTOR TO LAUNCH AN AI-BASED CHATBOT - “MATTU & MITTU”

The Muthoot Group, one of India’s leading business conglomerates today announced the launch of its Chatbot ‘MATTU & MITTU’ [Muthoot Advanced Technology Transformation Unit (MATTU), Muthoot Intelligent Technology Transformation Utility (MITTU)]. MATTU & MITTU will be represented by two elephant mascots that come together to denote the Group’s famous logo. The company is first in the Indian Gold Loan industry to use a bot on its official website – www.muthootfinance.com ‘MATTU & MITTU’ is an Artificial Intelligence powered Virtual Assistant that will offer 24/7 customer assistance and instantly respond to customer queries across The Muthoot Group’s diverse products and services; ranging from Gold Loan, Insurance, Money Transfer, Forex, Mutual Funds, Home loan etc. The AI-Bot is also said to act as a financial advisor, helping break myths around Muthoot’s flagship product – Gold Loans, and enabling customers to make informed decisions. It will help the customer to register, get details about Gold Loan/other financial products, apply for a Gold Loan scheme, locate the nearest Muthoot Finance branch etc. Among many other attractive features of the Bot, MATTU and MITTU will also provide –

• AI assisted live chat
• Predictive text
• Rating and instant feedback facility
• Natural language processing
• Suggestive/informative conversations
• Specialised advice based on customer inclinations
• Personalised advice through recognition of past behaviour patterns
• Onsite support at a branch, without involvement of staff

Speaking about this development, Mr. Alexander George Muthoot, Deputy Managing Director, The Muthoot Group said, “We, at The Muthoot Group, have always been at the forefront of adopting technology and transforming customer experience by providing them instant solutions to their financial needs. ‘MATTU & MITTU’ is our latest addition to some of our already existing technologically advanced systems like Core Banking Solution (CBS), Customer Relationship Management (CRM), iMuthoot Mobile App etc. We serve more than 2 lakh customers every day, and through our newly launched Chatbot, we aim to redefine seamless customer experience by being present where they are – Online. The bot is designed to increase the quality of the relationship we have with our customers by enhancing and personalising their financial journey with us.”