Active.ai platform today powers financial institutions in 44 countries across 200+ use cases, in multiple languages
Active.Ai, a leading Cognitive Conversational AI platform for financial services, announced it has achieved a significant milestone in its global platform rollout, from signing the first customer 5 years ago to going live in 44 countries in 5 continents.
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With nearly four billion users of smartphones, the world of finance has clearly moved from branch and call center interactions to mobile centric conversations about money. According to Mckinsey, this digital age, AI presents a transformational moment for financial services in unlocking over $1T in annual value by reducing costs, increasing customer engagement, reducing error rates and improving risk making.
Active.Ai platform today powers financial institutions in 44 countries across 200+ use cases, in multiple languages, enabling superior digital engagement across retail banking, wealth management, corporate banking, insurance, capital markets, payments, internal IT management and HR use cases.
“Active.Ai platform, built ground up to support financial institutions across cloud, hybrid and privately hosted environments is one of the first industry platforms to provide out of the box API connections to many embedded industry core banking and payment platforms. API’s and the ready to use cognitive journeys have been trained on a large data set, thereby enabling financial institutions to quickly embrace the platform and deploy to production in quick time” said Parikshit Paspulati Active.Ai CTO.
Once just a buzzword, Cognitive Conversational AI is now core to financials services:
85% of financial services companies are currently using AI, and over three in four expect AI to become essential to their business by 2022. (World Economic Forum (WEF))
The Global Conversational AI market is expected to grow to from $5 billion to $20 billion by 2027 with a compound annual growth rate (CAGR) of 22% and financials are expected to contribute 29% of this market.-Cognizant
More than 25 leading financial institutions across the world use Active.Ai’s platform to handle millions of interactions per month across simple and complex financial conversations. Active.Ai no-code low-code platform enables financial’s deploy and scale rapidly with 200+ 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
“The world of finance is increasingly becoming hyper competitive. Incumbents and challengers understand that key differentiator will be customer experience. Active.Ai has established a leadership position in Cognitive AI platform for financials by bringing in cutting edge algorithms, data and an advanced API tool kit with ready connectors to enable digital transformation. Over the next few years we aim to power 1B+ conversations about money , connecting conversations to data and making delightful predictions of how customers can benefit from their institutions products” says Ravi Shankar, Active.Ai, CEO.
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