By Martin Ekpeke
Lagos based Josla Electric Company Limited, an indigenous and an innovative Fintech startup that uses various Artificial Intelligence to capture key service metrics for optimal customer experiences, has in partnership with Flutterwave, a leading electronic payment startup company to launch a cognitive banking solution that will likely alter the Nigeria’s Epayment ecosystem.
Tagged ‘CASBA’, the solution is cloud based, and a self-service application integrated with a chatbot interface that provides bank customers with an alternative and convenient platform to carry out 24 hours banking transactions.
Speaking at the launch of the solution in Lagos last week Friday, Josla’s Chief Executive Officer, Mr. Akinlabi Ajelabi explained that CASBA accesses customers’ bank information via the web or mobile, adding that the solution gives financial advice by managing the customers’ budget and saving for various time period, so as to save towards life goals.
“CASBA is an Artificial Intelligence solution, which communicate via an inbuilt robot called ‘KIRA’ to push data to customers that represents real-time transactions. The Chatbot direct conversation with your bank for personalised services,” he said.
He explained that the app is basically a means to transfer funds and make other payments without necessarily going to the bank. “At the comfort of your home or office, you can make payments or do a cash transfer within one minute,” he assured.
Ajelabi argues that the uniqueness of CASBA is that it is interactive, in the sense that the Chatbot can answer all your various banking questions and address the issues 24/7. He disclosed users of the app interact with the bank through various channels such as Facebook, Twitter, Whatsapp and bank-owned apps.
With these interactions, the application gets users input, process the information and provide a favourable response.
Built with cloud resources and powered by AI system, CASBA seamlessly connects with the bank’s API for access to core banking operations and deprecation in case the user wants to interact with lives agent.
Other benefits of the solution to banks, according to Ajelabi are personalized experience, where total view of the customer behavior is guaranteed, trust & service – real time access to information and technical support that can help the banks to save up to 40 per cent in cost.
Meanwhile, Oluwtobi Oni, Head of Sales Team at Flutterwave, which is providing the payment gateway for CASBA has assured that the security of the solution is guaranteed, being that Flutterwave prides itself as one of the best electronic payment startup in Africa. “for every transaction to be completed, the customer would have to go through an OTP or a uses a PIN. If the owner of the phone is not available to complete the process, the transaction cannot be successful,” he said.
Oni stated that Flutterwave is partnering with Josla to build the payment gateway, stressing that the first part is to build the electronic payment application, but you need a payment gateway to complete the transaction.
“We are partnering with Josla to process their payment, where customers can top up their bill, transfer fund. We will be powering that payment. That is what Flutterwave is bringing to the table,” he added.