Project Idea Presentation

“Virtual Assistant for all Banks”

Presented By

71806176E – Rushikesh A. Raut.

71806114E – Sarfraj H. Khadim.
71922962G – Mayuri M. Khanvilkar.
71923020K – Suraj S. Hande.
 Problem Statement

The Banking industry in India is rapidly progressing with increased customer base and due to
newly improved and innovative facilities offered by technology. As the coin has two faces
likewise technology also has its two sides on Indian banking Sector-the positive and the
negative side.

Few banks are ahead of others while many are lying behind for saying advance technology.
This may be due to lack of investment or lack of infrastructure.

So we have to develop a solution which will fill these technology gaps and will introduce
advance technology to all banks.
 Introduction

Idea is to develop a centralized platform with virtual assistant where customer of any bank can access banking
services and support like monitoring account, fraud prevention, raising issue, etc.

User will be giving command to virtual assistant via interface with either voice or text.

This platform could bring coherence and stimulate the current online banking services and support system.

AI-powered bots will serve customers promptly and efficiently, therefore changing the landscape of customer
service not for only particular bank but to all the banks.
 Motivation and Objective
The Goal to develop platform where customer can connect virtual assistant and avail any
banking service and support for all banks.

The goal is to automate and stimulate online banking services and supports for all the
bank

Developing A platform where user can manage his/her all bank accounts.

To Reduce the stress on current banking system.

Bringing coherence in all banks working system.

 What Virtual Assistant can do
Customer Services:
• Opening an account(Saving, Current, Business)
• Make A Deposit (with E₹UPI)
• Take Out A Loan
• Deposit Or Cash A Check
• Apply For A Credit or Debit Card
• Pay Bills
• Many more……
Customer Support :
• General queries and concerns
• Grievance redressal
• Debit or credit card hot listing or blocking
• Loan-related queries and concerns
• Many more…..
 What we will be offering

• Developing platform with Virtual Assistant for all the services and supports will be a very large scale
project.
• So in order to fit it as a last year project we will be only focusing only on customer support and few
primary services
• Customer Support will have
• General queries and concerns
• Grievance redressal
• Debit or credit card hot listing or blocking
• Loan-related queries and concerns
• Customer Services will have
• Opening an account(Saving, Current, Business)
• Make A Deposit (with E₹UPI)
• Take Out A Loan
• Deposit Or Cash A Check
• Apply For A Credit or Debit Card
 Virtual Assistance in current Banking System

• chatbots implementation in Indian banks started during 2016 to 2019 and majority of private
banks have implemented these technologies.

• The services of chatbot and virtual assistants are available 24*7 in the 6 banks which have
implemented the services except for Canara Bank.

• In Canara Bank the robots are installed in the bank premises and operate during bank working
hours.

• like HDFC bank and Yes bank have provided an integration of the chatbot with Amazon’s Alexa

• ICICI Bank and Axis Bank has extended the chatbot feature through mobile apps which provides
the customer an option of banking on the go
 What we will be improving :

Currently service of Virtual assistant is only available for few banks customer. We will be
centralizing the process and making it available to all banks customer.

Grievance redressal time will decrease and grievances will be resolved within less span of
time.

Inter banking communication will become strong.

Reducing Bank’s expenses on technology.

Checking overall operational and financial performance of the banks.

 Why will banks connect with us

Many banks can’t afford advance technologies like AI, ML, etc. So our platform will be
affordable and convenient way for them to provide quality services to their customer.

Inter banking connection become strong and services based on inter banking
communication will be faster.

It will help banks engage more customers and also will assist in escalating costumer
satisfaction.

It will be a feasible solution for many banks with the limited staff available in their
branches

And also to the people in pandemic situations like covid, etc.

 Scope of the project

There are more than 120,000 bank branches all over India, if we consider 1 user per 10
branches to our system in one day, then there will be 12,000 users per day,

which will sum to 360,000 users/month and 43,20,000 user per year. This we can
consider as base case.

This system can also be implemented as like extension to UPI which will make it easier to
design and operate.

Implementing all banking services and supports could be a very large scale project.
 Project work

Since developing a full scale project will be to vast for our last year project, we will bw
developing a small scale project with limited functionalities whose overview can be like,
 LITERATURE SURVEY :
Sr Title of the Paper Author Observations
No.
1 Axis Aha! surges with over 10 million Active.ai (2019) Worked on the huge success of axis
Conversational Engagement bank chatbot and its causes which we
will be considering in our project.

2 Does the Future of Indian Banking Lie in Dash S (2018) works on difficulties to implement
Chatbots? chatbot in India which we need to
overcome.
3 A Review of Chatbots in the Banking Shashank Bairy R (2021) Worked on current diversity of
Sector chatbot in Indian banking sector,
which we are going to overcome with
centralization
4 Customers’ Attitude towards Chatbots in Gupta, A., & Sharma, D. Worked on attitude of customers
Banking Industry of India (2019). towards chatbot and reviews of
customers about pros and cons of
chatbot.
 FEASIBILITY STUDY

Technical Feasibility Operational Feasibility

Que - Framework required to be compactible with both Que – Any such System is currently operating in
frontend and backend which will make development India?
easier.
Not the same, but many other banks have their own
Django is a high-level Python web framework that enables private Chatbot. We will be Centralizing it so that other banks can
rapid development of secure and maintainable websites. Built by use it as well.
experienced developers, Django takes care of much of the hassle of
web development, so you can focus on writing your app without
needing to reinvent the wheel.

Que – how it will handle heavy workload? Que – Is the project possible or not?
We will be developing application in python backend so it yes, there are many difficult technical tasks which we
will be easier to deploy the application on docker so that it can need to handle but technically these project can deployed
handle heavy workload. successfully.
Legal Feasibility Schedule Feasibility

▶ Any Banking related software in India ▶ Assuming 100% efforts by all teammates
needs an permission from RBI and needs to will surely result into completing the
follow security and other norms put forth project on time.
by RBI. ▶ The project can be completed in period of
▶ For that we need to provide best application 6-8 months.
security we can.
 SYSTEM REQUIREMENT

At User’s end “
• Web browser
• Android mobile if in application

Server Side(to run application server)

• 8GB RAM
• 512 GB Disk space
• Django,
• Python 3.8
• SQL Server

Tools:

• PyCharm
• SQL workbench
• Notepad++
• Browser
 CHATBOT ARCHITECTURE

Language understanding
User request /natural language Action execution & info.
procedure retrieval

management
Dialogue
Chatbot response
Response generation Data sources
Data Flow Diagram (Level 0)
Data Flow Diagram (Level 1)
 Data Flow Diagram (Level 2)

Customer
PROJECT PLAN 1.0 & 2.0
UML Diagram : Use Case Diagram
UML Diagram :Sequence Diagram

Banking Server

Chatbot Connection
UML Diagram: Class Diagram
UML Diagram:
State Diagram
 Implementation:
o Tools and Technology used
o Tools Used:
o PyCharm
o MySQL Workbench
o Visual Studio Code

o Technology:
o Flask Framework :-
Flask is a light-weight framework popularly categorized as a micro framework. Flask comes
with some standard functionalities and allows developers to add any number of libraries or plugins for
an extension. If you have a simple, innovative use case to be added to an existing application, Flask
should be your choice as it offers flexibility. Flask comes with a small set of easy to learn API, and the
documentation is excellent. If you are new to Python, start your web development with Flask, so that
you can get the feel of backend and frontend both as well as learn the core concepts well.
o Natural language Processing:
Natural language processing gives machine the ability to ingest the given input, break it down, extract it's
meaning , determining appropriate action and answering user in there natural language.
Natural language processing (NLP) has two subsets Natural language understanding (NLU) and natural
language generation (NLG). NLU takes unstructured data as input and convert it into structured data so machine can
understand and act upon it. NLU focuses on extracting the meaning from user input query.
Natural language generation (NLG) simply converts the answer generated by chatbot in structured data to
human understandable natural language.

The five phases of NLP involve lexical (structure) analysis, parsing, semantic analysis, discourse
integration, and pragmatic analysis.
1. Lexical Analysis and Morphological
The first phase of NLP is the Lexical Analysis. This phase scans the source code as a stream of characters and
converts it into meaningful lexemes. It divides the whole text into paragraphs, sentences, and words.
2. Semantic Analysis (Parsing)
Semantic Analysis is used to check grammar, word arrangements, and shows the relationship among the words.
Example: Agra goes to the Poonam
In the real world, Agra goes to the Poonam, does not make any sense, so this sentence is rejected by the Syntactic
analyzer.
3. Semantic Analysis
Semantic analysis is concerned with the meaning representation. It mainly focuses on the literal meaning
of words, phrases, and sentences.
4. Discourse Integration
Discourse Integration depends upon the sentences that proceeds it and also invokes the meaning of the
sentences that follow it.
5. Pragmatic Analysis
Pragmatic is the fifth and last phase of NLP. It helps you to discover the intended effect by applying a set
of rules that characterize cooperative dialogues.
 TEST CASES AND TEST RESULT

SR.NO Test Cases Test

Result
1 Mobile no: Registered and Length Run
must be 10 digit in numerical
format only
2 Bank account details : Mobile Not tested
number must registered to bank
3 OTP: Sms delivery to registered Run
mobile number within 10 sec
 ❖ Test Cases and Test Result for Login
SR.NO TEST CASES TEST RESULT
1 Mobile number: Put valid Run
mobile number
2 OTP: SMS delivery to Run
mobile number within 10
sec

OTP Generation and Validation:

OTP Generation and SMS sending

OTP Validation:
Dependency Tracking:
- Banking Server : For Development, Testing and modeling purpose.
Status : In progress.
 Conclusion:

It could be concluded that the portal and Chatbot will be seamless way of
communication in banks during and after Covid-19.

The Virtual Assistant/Chatbot tool along with machine learning and natural language
processing techniques is a complete data set of questions, which is to be implemented
on daily basis at the “May I Help You” desk of banks.
 REFERENCES
[1] Dash S (2018). Does the Future of Indian Banking Lie in Chatbots? April 11. Retrieved on December
15, 2019 from https://www.entrepreneur.com/article/311795
[2] Maru, P. (2018). HDFC bank launches IRA 2.0 the advance version of its interactive humanoid, April
27. Retrieved on August 11, 2019 from
https://cio.economictimes.indiatimes.com/news/enterprise-services-and-applications/hdfc-bank-launches-i
ra-2-0-the-advance-version-of-its-interactive-humanoid/63936738
[3] Parwatay, S. (2019). Chatbots are the future, April 10. Retrieved on December 15, 2019 from
https://www.axisbank.com/progress-with-us/tech-talk/chatbots-are-the-future
[4] Arati A. Dobariya, Ajaykumar T. Shah, "Banking Inquiry Chat Bot", IJSTE - International Journal of
Science Technology & Engineering | Volume 5 | Issue 7 | January 2019
[5] Thomas, M. P. (2017). Meet Mitra: Canara Bank's new robotic customer care executive. Retrieved on
December 15, 2019 from
https://www.theweek.in/news/sci-tech/mitra-canara-bank-robotic-customer-care-executive.html.