Talocity, one of the AI HR Platforms, provides Touchless HiRing with unbiased HR outcomes to its clients, on-boarded YES BANK as a client recently. Talocity is a blend of automation enables YES BANK, India’s fourth largest private sector bank, to further enhance their hiring process and HR operations, to attain high-quality talent. The candidates are interviewed by an AI bot on a one-way video platform. Talocity’s machine learning and AI capabilities create personality reports, for each job applicant, which tells YES BANK about the applicant’s relevancy to the job.
The Banking industry is becoming more dynamic and competitive and HR has a very crucial role to play herein, as recruiting the right talent for the organization gives it a that competitive edge. To find the right candidate from diverse backgrounds is a necessity and this is where Talocity’s AI intervenes and makes hiring easy, by reducing time and costs for the organization. The core value proposition of Talocity’s SaaS platform is that you don’t meet 80% of the people that you anyway wouldn’t hire.
Speaking on the partnership, Deodutta Kurane, Senior Group President – Human Capital Management, YES BANK said, “YES BANK continues to pioneer the use of digital solutions, one such digital application is our recent partnership with Talocity that develops a personality report using Video Analytics, Artificial Intelligence (AI) & BOTS technology. This application enables scheduling face to face/telephonic interviews via AI & Robotics through mobile app. Since the technology is very contemporary, it resonates with candidates and reinforces YES BANK’s position as a Digitally advanced Bank. Our partnership with Talocity allows us to employ AI, Robotics and use of a flexible platform to reach out to candidates anywhere, at any time.
The eventual insights are developed basis the knowledge, skills, and personality of the candidates through Big Five Personality Traits, allowing us to harness technology as a tool for selecting candidates against role based competency. The AI platform makes the first level evaluation much more convenient and effective without human bias, especially in large volume hiring. The initial results have been fairly encouraging and we plan to integrate this application with other HCM Digital touch points and further smoothen our recruitment process.”
Ketan Dewan, CEO and Co-Founder at Talocity, said “The benefits of TOUCHLESS in hiring means that most of the recruitment related translations load will now be undertaken by Artificial Intelligence powered BOTs and the TOUCH will be retained by the recruitment teams across – salary negotiation, candidate experience & onboarding-WOW. YES BANK is one of India’s digitally forward looking banks & the commitment of its HR team has been very encouraging that not only are they providing newer digital initiatives for their customers but also integrating touchless technology with its incoming employees. The strategic depth of knowledge of YES BANK on digital is built on the reality that-Employees who come via a digital route will be further inclined to create a stronger digital experience for the bank clients.”
Varadrajan S, former CHRO and Head of Corporate Affairs at TATA SIA Airlines said, “Businesses must align themselves to the wants of the millennials and Gen Z, who are now much of the working population. The BFSI sector requires young talent on an ongoing basis. YES BANK has made a wise decision as Talocity’s products will enable BFSI companies to witness rapid and sustainable growth by identifying the right talent, by using AI technology. In addition to this, mobility, adaptability and agility are attributes common amongst this new generation, thereby making the use of such technology pivotal for future growth.”