Exciting Times

Digital Davids vs Financial Goliaths

Categories:

Active.Ai Ravi Digital Davids vs Financial Goliaths
We live in an interesting time of disruptions. Like many industries, the financial services sector is facing its Kodak moment. The incumbents have the experience, the challengers are creating the experience. Here are a few of the many moments that I feel will define the next decade for the incumbents.

Read more

Finacleconnect March 2018

Categories:

Shankar Narayanan: I think blockchain will definitely be one of the key technologies that have a significant
impact on banking this year. In addition to areas like trade finance and remittances where there is a lot of traction already, I think blockchain will also make a difference in the know-your-customer process bringing in a lot of efficiency and transparency. Secondly, regulations or not, banks will focus on setting up open banking framework to play a larger role in the banking ecosystem. This will be important for banks to develop a new revenue stream and increase their reach through third parties. Thirdly, Artificial Intelligence cannot be ignored any more in banking. 2018 will see more of conversational banking services through chat and voice based interfaces across their digital channels.

View Article

CIO India Review – March 2018 Issue

Categories:

As we gaze far into the year, we can see that the conversational AI landscape is primed for increased consumer adoption. In fact, in a recent survey, nine out of 10 people said they prefer messaging directly with a brand. This year, Apple, Facebook, Google, and Amazon, all leaned into messaging and conversation. While chatbots are still at a nascent stage in the banking industry, bots will quickly gain in sophistication to the point that they will be able to perform all tasks previously owned by customer service representatives. Active.ai, a Singapore based Fintech startup with an innovation lab in Bengaluru, is using artificial intelligence (AI) to deliver Conversational banking services. The startup helps banks redefine their digital strategy for the future, bringing in automation and insightful customer engagement. Built for banking technology, their conversational AI uses advanced natural language processing (NLP), natural language understanding (NLU) and machine intelligence to enable customers to have natural dialogues over messaging, voice or IOT devices.

View Article

Singapore-based Conversational AI Startup Breaks into US Market with Key Bank Clients

Categories:

Active.Ai kicks off a roadmap for US growth with two new bank clients.

February 27, 2018 (New York, NY)—Singapore-based artificial intelligence startup, Active Intelligence Pte Ltd, made a significant step into the United States by signing two important clients.

An enterprise platform for financial services that helps facilitate intelligent micro-conversations, Active.Ai, raised a total funding of US$11.75m from marquee investors, already seen notable success enabling four of the largest banks in India, along with other top-tier banks, and insurance companies in Malaysia, Singapore, Thailand, and the Philippines. Its financial services have span into other verticals like wealth management and securities trading. On the heels of announcing projects with Axis Bank and CIMB Bank being live, Active.Ai now have their sights set on the US market, and already the 24-month-old company has secured a strong foothold in the Americas.

Elizabeth Duke, SVP of Business Development, will be responsible for driving new business opportunities in the US. Duke shared “I’m excited to be part of a growing team that’s focused and committed to the US market. With significant bank customers across Asia, it’s clear the Active.Ai team is ready to deploy at scale in the Americas. The potential is huge to up-end the level of service banks can deliver to their clients”. Duke brings 30 years of global sales and marketing experience in financial services, including senior-level positions at MasterCard, CSAM, Carta Worldwide, and Network for Electronic Transfers Singapore (NETS). She will play a key role in growing the company’s presence across North America alongside co-founder and CEO, Ravishankar, and co-founder and COO, Shankar Narayanan.

Ravishankar, explains: “We’ve already seen a strong interest in our full-stack solution, and these early wins suggest US financial services are ready to incorporate an innovative full-stack AI solution.” He adds, “As Active.Ai scales and enters new markets like the United States, we continue to hire talented people to drive product innovation and growth—2018 will be an exciting year for banks in the Americas.”

Active.Ai runs on a proprietary artificial intelligence engine called Triniti that enables financial institutions to have a meaningful, intuitive engagement with their customers across multiple apertures, using messaging, voice, and IOT devices. This unique solution—built from the ground up by Active.Ai—includes Machine Learning, Natural Language Processing, and Natural Language Generation. It’s arriving just in time for the industry. Shankar Narayanan explains: “The financial services and insurance industries are evolving quickly to remain relevant to changing customer expectations. Using advanced conversational AI, we see an exciting opportunity for these companies to create a natural dialogue and more meaningful connections with their customers using everyday micro-conversations.

Download PDF

Active.Ai raises $8.25 m Series A funding, led by Vertex Ventures

Categories:

Singapore and Bangalore, India, Nov 13, 2017

Active.Ai, a Singapore Headquartered Fintech platform with an innovation lab in Bengaluru, that delivers conversational banking through artificial intelligence (AI), announced a US$ 8.25 million Series A financing led by Vertex Ventures, Creditease Holdings and Dream Incubator. Existing investors Kalaari and IDG Ventures India will also participate in the round. Ben Mathias, Managing Partner at Vertex Ventures and Vani Kola, Managing Director at Kalaari Capital will join Sanat Rao from IDG Ventures India on the Company’s board of directors. Anju Patwardhan from Creditease will join as a board observer.

Active.Ai’s proprietary AI engine, Triniti enables financial institutions to have a meaningful engagement with their customers in an intuitive natural format over multiple apertures covering messaging, voice and IOT devices. This full-stack solution has been built ground-up and comprises Machine Learning, Natural Language Processing and Natural Language Generation. Keeping in mind the requirements of financial institutions, the company offers flexibility of deployment: on-premise or in the cloud.

Founded in early 2016, the company is working with some of the top-tier Banks and Insurance companies in India, Malaysia, Singapore and North America and is planning to expand into other verticals like Wealth Management and Securities Trading. The company’s vision is to become the AI platform of choice for leading Financial Services companies across the world.

Ravi Shankar, co-founder & CEO of Active Intelligence said:  “I am excited by the future possibilities of AI and how this technology will shape the banking and financial world. There is very strong need for banks and financial institutions to evolve fast and empower customers with the ability to do transactions as part of their habitual daily micro-conversations. With the fresh injection of funds, Active.Ai will scale up and continue to hire talented people for the AI team and focus on building the best enterprise product in the market.”

Ben Mathias from Vertex Ventures said: “I am very excited to partner with the Active.Ai team to redefine the paradigm of customer experience in financial services. The threat of fundamental disruption is very real in the financial services space, and companies such as Active.Ai are making it easy for incumbents to not just remain relevant, but to get ahead in an ever evolving market. At Vertex, we have been strong believers in Artificial intelligence helping solve problems specific to industry verticals, and that has been a key driver of our decision to partner with Active.Ai.”

Vani Kola, Managing Director at Kalaari Capital said “We are very excited to have Vertex, Creditease and Dream Incubator join us in this exciting journey of building a world class AI product from India. The fresh round of funding will help us invest even more into technology and expand our footprint into other geographies.”

“Active.Ai’s NLP platform for conversational banking is rapidly gaining acceptance with key banking customers globally.  We continue to be impressed with the passion and capabilities of the team, and are excited to be part of the next phase of their journey.” said Sanat Rao, Partner, IDG Ventures India

Download PDF

Renaissance era for Banking

Categories:

 

“The World needs Banking, but it does not need Banks”

– Bill Gates

Today, we are living in the “Renaissance era of Banking” and this transformation that we see is from disruptive changes across regulations, technology, and the very manner in which banking is consumed as a service. The opportunity to transform banking is now a top agenda for most nations globally as they seek to make banking inclusive and accessible to billions.Read more…

Chat Banking: The Path to Ubiquitous Mobile Banking

Categories:

Menus, icons, and clicks from the world of GUI have served us well by bringing computing (and so Online Banking) to the masses. In today’s hyper mobile world, the ‘gooey’ model is crumbling under the weight of the increasing number of services and amount of information people want available on their mobile devices.

Natural User Interface (NUI) is an interesting promise to make GUI unobtrusive and invisible by allowing natural human behaviour (touch, gesture, and speech) to interact with devices. But we don’t yet feel so natural interacting with machines for general use. Google Glass, Oculus Rift, and Leap Motion won’t become widespread anytime soon.

Enter Chat UI. Texting is hot for chatting among friends. Add to it some richness from the world of GUI and it may soon become the primary way in which people bank (and shop, and search even) on their mobile devices.

Read more…

Digital Bank: Why Human Capital strategy matters most.

Categories:

Preparing your bank to go digital is not only about rethinking your technology, it’s about rethinking your bank , your customer engagement and most importantly your People Capital.

The lost opportunity for state owned banks: Flash Back: 1985-2000.Read more…

Singapore-based Conversational AI Startup Breaks into US Market with Key Bank Clients

Categories:

Active.Ai kicks off a roadmap for US growth with two new bank clients.

February 27, 2018 (New York, NY)—Singapore-based artificial intelligence startup, Active Intelligence Pte Ltd, made a significant step into the United States by signing two important clients.

An enterprise platform for financial services that helps facilitate intelligent micro-conversations, Active.Ai, raised a total funding of US$11.75m from marquee investors, already seen notable success enabling four of the largest banks in India, along with other top-tier banks, and insurance companies in Malaysia, Singapore, Thailand, and the Philippines. Its financial services have span into other verticals like wealth management and securities trading. On the heels of announcing projects with Axis Bank and CIMB Bank being live, Active.Ai now have their sights set on the US market, and already the 24-month-old company has secured a strong foothold in the Americas.

Elizabeth Duke, SVP of Business Development, will be responsible for driving new business opportunities in the US. Duke shared “I’m excited to be part of a growing team that’s focused and committed to the US market. With significant bank customers across Asia, it’s clear the Active.Ai team is ready to deploy at scale in the Americas. The potential is huge to up-end the level of service banks can deliver to their clients”. Duke brings 30 years of global sales and marketing experience in financial services, including senior-level positions at MasterCard, CSAM, Carta Worldwide, and Network for Electronic Transfers Singapore (NETS). She will play a key role in growing the company’s presence across North America alongside co-founder and CEO, Ravishankar, and co-founder and COO, Shankar Narayanan.

Ravishankar, explains: “We’ve already seen a strong interest in our full-stack solution, and these early wins suggest US financial services are ready to incorporate an innovative full-stack AI solution.” He adds, “As Active.Ai scales and enters new markets like the United States, we continue to hire talented people to drive product innovation and growth—2018 will be an exciting year for banks in the Americas.”

Active.Ai runs on a proprietary artificial intelligence engine called Triniti that enables financial institutions to have a meaningful, intuitive engagement with their customers across multiple apertures, using messaging, voice, and IOT devices. This unique solution—built from the ground up by Active.Ai—includes Machine Learning, Natural Language Processing, and Natural Language Generation. It’s arriving just in time for the industry. Shankar Narayanan explains: “The financial services and insurance industries are evolving quickly to remain relevant to changing customer expectations. Using advanced conversational AI, we see an exciting opportunity for these companies to create a natural dialogue and more meaningful connections with their customers using everyday micro-conversations.

Download PDF

Active.Ai raises $8.25 m Series A funding, led by Vertex Ventures

Categories:

Singapore and Bangalore, India, Nov 13, 2017

Active.Ai, a Singapore Headquartered Fintech platform with an innovation lab in Bengaluru, that delivers conversational banking through artificial intelligence (AI), announced a US$ 8.25 million Series A financing led by Vertex Ventures, Creditease Holdings and Dream Incubator. Existing investors Kalaari and IDG Ventures India will also participate in the round. Ben Mathias, Managing Partner at Vertex Ventures and Vani Kola, Managing Director at Kalaari Capital will join Sanat Rao from IDG Ventures India on the Company’s board of directors. Anju Patwardhan from Creditease will join as a board observer.

Active.Ai’s proprietary AI engine, Triniti enables financial institutions to have a meaningful engagement with their customers in an intuitive natural format over multiple apertures covering messaging, voice and IOT devices. This full-stack solution has been built ground-up and comprises Machine Learning, Natural Language Processing and Natural Language Generation. Keeping in mind the requirements of financial institutions, the company offers flexibility of deployment: on-premise or in the cloud.

Founded in early 2016, the company is working with some of the top-tier Banks and Insurance companies in India, Malaysia, Singapore and North America and is planning to expand into other verticals like Wealth Management and Securities Trading. The company’s vision is to become the AI platform of choice for leading Financial Services companies across the world.

Ravi Shankar, co-founder & CEO of Active Intelligence said:  “I am excited by the future possibilities of AI and how this technology will shape the banking and financial world. There is very strong need for banks and financial institutions to evolve fast and empower customers with the ability to do transactions as part of their habitual daily micro-conversations. With the fresh injection of funds, Active.Ai will scale up and continue to hire talented people for the AI team and focus on building the best enterprise product in the market.”

Ben Mathias from Vertex Ventures said: “I am very excited to partner with the Active.Ai team to redefine the paradigm of customer experience in financial services. The threat of fundamental disruption is very real in the financial services space, and companies such as Active.Ai are making it easy for incumbents to not just remain relevant, but to get ahead in an ever evolving market. At Vertex, we have been strong believers in Artificial intelligence helping solve problems specific to industry verticals, and that has been a key driver of our decision to partner with Active.Ai.”

Vani Kola, Managing Director at Kalaari Capital said “We are very excited to have Vertex, Creditease and Dream Incubator join us in this exciting journey of building a world class AI product from India. The fresh round of funding will help us invest even more into technology and expand our footprint into other geographies.”

“Active.Ai’s NLP platform for conversational banking is rapidly gaining acceptance with key banking customers globally.  We continue to be impressed with the passion and capabilities of the team, and are excited to be part of the next phase of their journey.” said Sanat Rao, Partner, IDG Ventures India

Download PDF

Finacleconnect March 2018

Categories:

Shankar Narayanan: I think blockchain will definitely be one of the key technologies that have a significant
impact on banking this year. In addition to areas like trade finance and remittances where there is a lot of traction already, I think blockchain will also make a difference in the know-your-customer process bringing in a lot of efficiency and transparency. Secondly, regulations or not, banks will focus on setting up open banking framework to play a larger role in the banking ecosystem. This will be important for banks to develop a new revenue stream and increase their reach through third parties. Thirdly, Artificial Intelligence cannot be ignored any more in banking. 2018 will see more of conversational banking services through chat and voice based interfaces across their digital channels.

View Article

CIO India Review – March 2018 Issue

Categories:

As we gaze far into the year, we can see that the conversational AI landscape is primed for increased consumer adoption. In fact, in a recent survey, nine out of 10 people said they prefer messaging directly with a brand. This year, Apple, Facebook, Google, and Amazon, all leaned into messaging and conversation. While chatbots are still at a nascent stage in the banking industry, bots will quickly gain in sophistication to the point that they will be able to perform all tasks previously owned by customer service representatives. Active.ai, a Singapore based Fintech startup with an innovation lab in Bengaluru, is using artificial intelligence (AI) to deliver Conversational banking services. The startup helps banks redefine their digital strategy for the future, bringing in automation and insightful customer engagement. Built for banking technology, their conversational AI uses advanced natural language processing (NLP), natural language understanding (NLU) and machine intelligence to enable customers to have natural dialogues over messaging, voice or IOT devices.

View Article

Digital Davids vs Financial Goliaths

Categories:

Active.Ai Ravi Digital Davids vs Financial Goliaths
We live in an interesting time of disruptions. Like many industries, the financial services sector is facing its Kodak moment. The incumbents have the experience, the challengers are creating the experience. Here are a few of the many moments that I feel will define the next decade for the incumbents.

Read more

Renaissance era for Banking

Categories:

 

“The World needs Banking, but it does not need Banks”

– Bill Gates

Today, we are living in the “Renaissance era of Banking” and this transformation that we see is from disruptive changes across regulations, technology, and the very manner in which banking is consumed as a service. The opportunity to transform banking is now a top agenda for most nations globally as they seek to make banking inclusive and accessible to billions.Read more…

Chat Banking: The Path to Ubiquitous Mobile Banking

Categories:

Menus, icons, and clicks from the world of GUI have served us well by bringing computing (and so Online Banking) to the masses. In today’s hyper mobile world, the ‘gooey’ model is crumbling under the weight of the increasing number of services and amount of information people want available on their mobile devices.

Natural User Interface (NUI) is an interesting promise to make GUI unobtrusive and invisible by allowing natural human behaviour (touch, gesture, and speech) to interact with devices. But we don’t yet feel so natural interacting with machines for general use. Google Glass, Oculus Rift, and Leap Motion won’t become widespread anytime soon.

Enter Chat UI. Texting is hot for chatting among friends. Add to it some richness from the world of GUI and it may soon become the primary way in which people bank (and shop, and search even) on their mobile devices.

Read more…

Digital Bank: Why Human Capital strategy matters most.

Categories:

Preparing your bank to go digital is not only about rethinking your technology, it’s about rethinking your bank , your customer engagement and most importantly your People Capital.

The lost opportunity for state owned banks: Flash Back: 1985-2000.Read more…

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