Gupshup, a conversational messaging platform, this week announced it has acquired Active.Ai, a conversational AI platform popular with banks and fintechs. The terms of the deal were not made public.
Based in Singapore, Active.Ai distributes its Conversational Banking-as-a-Service platform to customers in 43 countries, including the United States, India and the Middle East. The company said it has more than 300 million combined users of its voice video and messaging services. In total, it says it has managed in excess of 30 million service requests and fulfilled more than 50 million enquiries with 95 per cent accuracy.
Some notable Active.Ai customers include Royal Credit Union and CommFirst Federal Credit Union in the United States; India’s Axis Bank, Kotak Mahindra Bank, Tata Capital, IndusInd Bank and HDFC Securities; NTUC Income, NIUM and Tonik Bank in Southeast Asia and Burgan Bank, Abu Dhabi Commercial Bank PJSC (ADCB), and Qatar Islamic Bank in the Middle East. Additional partnerships have been established with tech heavyweights AWS, Microsoft, Infosys (Finacle), TCS, Finastra, EY, PwC and Accenture.
“In the conversational economy, business-to-consumer engagement that combines advanced natural language processing with deep enterprise connectivity is essential,” Active.Ai co-founder and CEO Ravi Shankar said. “Active.Ai’s conversational engagement platform powers leading financial enterprises across 43 countries. We are excited to partner with Gupshup to help shape the future of conversational engagement in the financial services space.”
“Active.Ai’s robust CBaaS platform adds more vertical depth to our product stack, giving BFSI customers the tools to create intelligent, frictionless micro conversations with consumers using voice, video and messaging channels,” Gupshup co-founder and CEO Beerud Sheth added. “We are happy to welcome the Acitve.Ai team to the Gupshup family and look forward to driving the next phase of innovations in conversational engagement and commerce.”