Active.ai, a Singapore based fintech startup, using artificial intelligence (AI) to deliver virtual assistant banking services, announced today that it has raised $3 million in funding from IDG Ventures India and Kalaari Capital.
This investment will support the rapid growth of Active.ai to continuously advance its cutting edge platform and to build out advanced AI features, enabling an increasing roster of clients to deliver a superior and engaging banking experience.
Shankar Narayanan, COO and Co-Founder, added,
Active.ai is helping banks redefine their digital strategy for the future, bringing in automation and intelligent customer engagement to banking and payments. The company’s intelligent and built for banking technology uses advanced NLP and machine intelligence to enable customers have natural dialogues over messaging, voice or IOT devices.
Sanat Rao of IDG Ventures, said,
43% of worldwide mobile phone consumers with a bank account use mobile banking today. The new generation of banking customers are looking for easy, secure and seamless interaction with their financial services provider. IDG Ventures India believes that AI will completely transform the banking industry, and we are very excited to partner with Active.ai to build the world’s largest conversational banking platform.
Ravishankar, Shankar Narayanan and Parikshit Paspulati brings a wealth of expertise in banking and fintech, having founded companies in mobile banking, payments and working in startup teams of leading banks in Asia. In a short period of time the company has gained significant traction with banks across Asia, added revenue and built a team of experts in banking technology and AI.