Gupshup acquires Active.Ai, a conversational AI platform

Gupshup, a conversational engagement platform, has announced the acquisition of Active.Ai, the conversational artificial intelligence (AI) platform used by banks and fintech firms.

Headquartered in Singapore, Active.Ai serves BFSI customers across 43 countries with conversational banking as a service (CBaaS) platform that helps clients engage with millions of consumers every month, a statement said.

Active.ai has enabled more than 300 million user interactions via voice, video and messaging, managed over 30 million service requests and fulfilled 50 million-plus enquiries in aggregate, with 95 per cent accuracy. Its customers include the Royal Credit Union and CommFirst Federal Credit Union in the USA, Axis Bank, Kotak Mahindra Bank, Tata Capital, IndusInd Bank and HDFC Securities Ltd in India, NTUC Income, NIUM and Tonik Bank in South East Asia and Abu Dhabi Commercial Bank PJSC (ADCB), Qatar Islamic Bank and Burgan Bank in the Middle East. The company is also known to have established strong partnerships with AWS, Microsoft, Infosys (Finacle), TCS, Finastra, EY, PwC and Accenture.

“Using conversational AI, Gupshup is helping global businesses establish new and exciting ways to engage with consumers in a more natural and contextual manner,” said Beerud Sheth, co-founder and CEO, Gupshup.

The leading conversational AI platform for digital financial services, @ActiveAibot is now a part of Gupshup. We look forward to driving the next phase of innovations in conversational engagement and commerce. https://t.co/LNhO1b8tQY pic.twitter.com/CDXX9GYhXC

— gupshup (@gupshup) April 5, 2022

“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,” he added.

“In the conversational economy, business to consumer engagement that combines advanced natural language processing with deep enterprise connectivity is essential. Active.Ai’s conversational engagement platform powers leading financial enterprises across 43 countries,” said Ravi Shankar, co-founder and CEO, Active.Ai.

“Active.Ai’s technology platform is enabling financial institutions around the globe to effectively engage their customers using AI. The merger with Gupshup is a logical next step in their evolution. Together, they can bring advanced omnichannel engagement across messaging, voice and video to enterprise customers,” said Ben Mathias, managing partner, Vertex Ventures.

Active.Ai’s investors include InnoCells, Kalaari Capital, Vertex Ventures, Chiratae Ventures, CreditEase, DI and Kstart.

Read: How conversational AI improves the experience of customers