Razorpay Unveils AI Assistant RAY to Simplify Financial Processes

Razorpay Unveils AI Assistant RAY to Simplify Financial Processes

Razorpay, the leading omnichannel payments and business banking platform in India, has unveiled its latest innovation, an AI assistant named RAY. The launch of RAY is hailed as a significant step in revolutionizing fintech solutions in the country. According to Harshil Mathur, CEO and Co-Founder of Razorpay, RAY is designed to simplify financial processes for businesses by resolving complex queries and offering seamless assistance in various financial operations.

One of the key features that sets RAY apart is its proactive approach to problem-solving. For instance, in cases of delayed settlements due to bank holidays, RAY not only informs the user but also takes proactive steps to expedite the process. Similarly, when faced with a failed payment, RAY identifies the issue and suggests practical solutions to recover lost customers. This commitment to prompt assistance demonstrates Razorpay’s dedication to addressing the challenges faced by businesses.

In addition to its problem-solving capabilities, RAY also simplifies technical tasks by generating integration codes for websites, reducing the need for manual coding efforts. For example, businesses can instruct RAY to generate an integration code for their website in Python, and RAY promptly generates and displays the required code. This feature streamlines the process for businesses, saving them time and effort.

RAY is currently available in English and Hindi, but Razorpay has plans to expand its language support to cater to a wider audience. The goal is to make RAY accessible to businesses across India, regardless of regional language barriers.

The unveiling of RAY has generated excitement among the Razorpay team, with Shashank Kumar, MD and Co-Founder of Razorpay, expressing their commitment to leveraging the true power of AI in their products. They have developed AI solutions for various aspects of financial technology, from chargeback protection to fraud detection. Razorpay is at the forefront of adopting AI to revolutionize the payments industry and enable businesses to thrive.

Looking ahead, the vision of a financial sector powered by Generative AI offers a glimpse into the future of streamlined tasks, sophisticated regulatory tools, and seamless customer interactions. Razorpay’s RAY exemplifies this vision by addressing real-world scenarios with proactive assistance. As the company continues to innovate and empower businesses, they are creating a future where financial processes are simplified and enhanced through the power of AI.

Razorpay’s journey over the past nine years has positioned them as a leader and pioneer in digital payments and financial technology. With the introduction of RAY, they are poised to enter the next phase of growth and continue setting industry standards. As businesses look for more efficient and streamlined solutions, RAY offers a ray of hope in simplifying financial operations and propelling businesses forward on their growth journeys.

As the landscape of finance continues to evolve with technological advancements, staying informed and utilizing technology responsibly and ethically becomes imperative. RAY represents Razorpay’s commitment to empowering businesses and providing them with the tools they need to navigate the ever-changing world of finance. With RAY by their side, businesses can look forward to simplified financial processes and seamless interactions, ultimately enabling them to focus on high-quality tasks and drive their growth.


Written By

Jiri Bílek

In the vast realm of AI and U.N. directives, Jiri crafts tales that bridge tech divides. With every word, he champions a world where machines serve all, harmoniously.