Muthoot Finance launches AI Virtual Assistant ‘Mattu’, BFSI News, ET BFSI

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Muthoot Finance, gold loan NBFC has partnered with Senseforth.ai, conversational AI technology company to launch ‘Mattu’, an AI-powered virtual assistant.

Available on the website and mobile app, the intelligent assistant enables users to apply for various kinds of loans, address concerns, and perform transactions like checking account balance, paying gold loan interest, availing loan top-ups, making part payments and much more.

Alexander George Muthoot, Deputy Managing Director, The Muthoot Group said, “The launch of a revamped and turbo-charged Mattu marks the beginning of a new chapter for us. This AI-powered virtual assistant offers various customer-friendly features like multi-lingual support, voice search capability, and can handle more than 250 frequently asked questions.”

Customers of Muthoot Finance can chat or speak with the AI virtual assistant in both English and Hindi. This virtual assistant is also available on WhatsApp, which makes it very easy for users to access key services through natural human interactions.

Shridhar Marri, CEO & Co-founder of Senseforth.ai said, “The modern day customer expects their needs to be fulfilled within seconds, without having to browse the website or visiting a branch. The launch of Mattu would eliminate buyer friction and ensure that customers of Muthoot Finance have instant access to key services on a channel of their choice.”



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SucSEED Angel, IIIT-H fund exit Paymatrix

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SucSEED Angel Network and IIIT-Hyderabad’s seed fund have exited from Paymatrix, a fintech start-up established in 2016.

The two entities were offered an exit by the founders and Muthoot group that invested into the start-up.

The financial consideration for the two exits have not been revealed by the start-up.

The start-up lets users pay their rents, rental deposits and maintenance payments online using credit cards, giving them a window of credit-free period of 45-50 days.

The start-up, with a base of 82,000 users, processed ₹200 crore payment requests so far.

“Paymatrix was one of our very promising early-stage investments at IIIT-H Foundation. We believe that this partnership and investment from Muthoot group shall enable them to scale greater heights,” Ramesh Loganathan, COO at IIIT-H Foundation, said in a statement.

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