Messaging Platform Gupshup Acquires Conversational AI Firm Active.Ai
Active.Ai, a gossip AI network for banks and fintech organizations, has been bought by Gupshup, a conversational social app. Gupshup’s user experience services for BFSI clients will be strengthened due to the purchase.
Active.Ai, based in Singapore, provides a Conversational Banking as a Service (CBaaS) network to BFSI users in 43 countries, allowing people to interact with customers every month. Active.Ai promises to have handled over 300 million user interactions via phone, video, and text, handled over 30 million service requests and answered more than 50 million inquiries with 95% correctness.
The Royal Credit Union and CommFirst Federal Credit Union in the United States; Axis Bank, Kotak Mahindra Bank, Tata Capital, IndusInd Bank, and HDFC Securities Ltd. in India; NTUC Revenue, NIUM, and Tonik Bank in Southeast Asia; and Abu Dhabi Commercial Bank PJSC (ADCB), Qatar Islamic Bank, and Burgan Bank in the Middle East are just a few of Ai’s notable clients. In addition, AWS, Microsoft, Infosys (Finacle), TCS, Finastra, EY, PwC, and Accenture are among the company’s main partners.
“Using conversational AI, Gupshup is aiding businesses in building new and interesting methods to engage with clients more genuinely and relevantly.” Gupshup co-founder and CEO Beerud Sheth said, “AI’s rich CBaaS system adds more vertical depth to our product stack, offering BFSI companies the ability to build intelligent, frictionless micro dialogues with clients via phone, video, and sms channels.” “We are delighted to welcome the Acitve.Ai team to the Gupshup community and look forward to advancing the next conversational interaction and commerce chapter,” Sheth said.
“In the conversational economy, business-to-consumer interaction that incorporates powerful natural language processing and organisational connection is critical. Ravi Shankar, co-founder and CEO of Active.Ai, stated, “Active.conversational Ai’s involvement platform powers major financial organizations in 43 countries.” “We’re excited to work with Gupshup to help create the future of conversational involvement in the financial services sector,” Shankar said.
Active venture capital firms include InnoCells, Kalaari Capital, Vertex Ventures, Chiratae Ventures, CreditEase, DI, and Kstart. Ai’s backers are a group of people that have put money into the company.