Gupshup, a United States-based conversational engagement firm, announced Tuesday the acquisition of Active.Ai, a Singapore-based conversational artificial intelligence (AI) platform used by banks and FinTech firms.

The acquisition strengthens Gupshup’s customer experience (CX) solutions for banking, financial services, and insurance solutions (BFSI) customers, Gupshup said in a statement.

“Using Conversational AI, Gupshup is helping global businesses establish new and exciting ways to engage with consumers in a more natural and contextual manner. Active.Ai’s robust conversational banking as a service (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. 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.” said Beerud Sheth, Co-Founder and Chief Executive Officer, Gupshup.

Headquartered in Singapore, Active.Ai serves BFSI customers across 43 countries with a CBaaS platform that helps clients engage with millions of consumers every month. It 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 percent accuracy.

Active.Ai’s marquee customers include 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 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 has established strong partnerships with 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’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,” said Ravi Shankar, Co-Founder and Chief Executive Officer, Active.Ai.

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

“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.

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