Acquisition strengthens Gupshup’s CX offerings for Banking and Financial Services companies
San Francisco / Mumbai / Singapore, April 5, 2022: Gupshup, a global leader in conversational engagement, announced the acquisition of Active.Ai, a leading provider of Conversational AI-powered digital financial services. Headquartered in Singapore, Active.Ai serves banking, financial services and insurance (BFSI) customers across 43 countries through its Conversational Banking as a Service (CBaaS) platform, helping it engage with millions of customers every month. The acquisition strengthens Gupshup’s CX solutions for BFSI companies across retail banking, business banking, credit unions, capital markets and insurance sectors.
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 percent accuracy. Active.Ai’s marquee customers include the Royal Credit Union and CommFirst FCU 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 Southeast 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.
“Using Conversational AI, Gupshup is focused on helping businesses find new and exciting ways to engage with consumers in a natural and contextual manner. Active.Ai’s robust CBaaS platform adds more vertical depth to our product stack, allowing BFSI companies to create intelligent, frictionless micro-conversations with consumers using voice, video and messaging channels,” said Beerud Sheth, Co-founder and CEO, Gupshup. “We welcome the Active.Ai team to the Gupshup family and look forward to driving the next phase of conversational engagement and commerce in the financial services space.”
“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 today,” said Ravi Shankar, Co-founder and CEO, Active.Ai. “We are excited to partner with Gupshup, a global leader in conversational engagement, to shape the future of conversational engagement for BFSI companies across messaging, voice and video.”
“Active.Ai’s technology platform is enabling financial institutions across the globe to effectively engage their customers using artificial intelligence. The merger with Gupshup is a logical next step in its 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.
Gupshup enables better customer engagement through conversational messaging. Gupshup is the leading conversational messaging platform, powering over 7 billion messages per month. Across verticals, thousands of large and small businesses in emerging markets use Gupshup to build conversational experiences across marketing, sales and support. Gupshup’s carrier-grade platform provides a single messaging API for 30+ channels, a rich conversational experience-building tool kit for any use case and a network of emerging market partnerships across messaging channels, device manufacturers, ISVs and operators. With Gupshup, businesses have made conversations an integral part of their customer engagement success. Gupshup is present across the world in regions like India, Latin America, Eastern Europe, Southeast Asia, the Middle East and the United States. Visit www.gupshup.io for more.
About Active.AiActive.Ai is the leading Conversational AI platform for digital financial services. Active.Ai helps Banks accelerate their digital experience with omni-channel enterprise grade Conversational AI finance as a service platform built from ground up for Financial Services. Banks can deploy and scale rapidly with 150+ use cases pre-built out-of-the-box to increase customer acquisition, reduce customer service turn-around time and deepen customer engagement on WhatsApp, Messaging, Smart IVR, Mobile apps, Web, VoiceBots and IOT devices. Visit active.ai for more.