Active.Ai and FinBit.io, an Envestnet | Yodlee solution, partner to enable open banking for more than 500 million consumers

SINGAPORE, April 06, 2021- Active.Ai, a leading Conversational AI platform for financial services, and FinBit.io (an Envestnet | Yodlee solution), a leading data aggregation and data analytics platform for digital financial services, are working together to empower financial service providers to deliver digital credit to underserved and underbanked communities.

Active.Ai enables embedded financial experiences for customers by connecting it's APIs to an open banking ecosystem. Fintechs and banks will be able to benefit from Active.Ai’s conversational AI platform leveraging financial data access via DigiSahamati across the region, Finbit.io’s aggregation technology enables financial institutions and FinTechs to offer their customers total control over their data. 

With over one billion users of smartphones, South Asia and India present a unique opportunity for enabling mobile financial services in a cost-efficient way. While the pandemic revolutionized digital payments, the opportunity to deliver and manage digital credit is equally significant. As regulators create platforms to bring consumer data from multiple segments across banking, payments, insurance, healthcare and telco’s to a single dashboard, consumers can now control their data and access credit or investment opportunities in a cost effective and timely way.

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 banking conversations. Active.Ai no-code low-code platform enables banks 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

“Consumer-permissioned data access for valued financial services like affordable lending is at the center of customer needs in India and Asia. We are proud to power this innovation,” said Prashant Paliwal, Founder of FinBit.io. “We serve more than 100 financial institutions and FinTechs in the region and our partnership with Active.ai enables a very important conversational channel for them.”

“India and South Asian economies are fast becoming connected and data rich nations. The DigiSahamati Foundation in India and the Singapore Financial Data Exchange are fine examples of open banking enablers. By partnering with FinBit.io, we’ve enabled our customers with the tooling ability to aggregate their financial relationships to purchase a credit or investment product using just natural language conversations over many text or voice channels.” says Ravi Shankar, Active.ai, CEO. 

About Active.Ai

Active.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.

For more about Active.ai, visit www.active.ai

Contact: hello@active.ai

About FinBit.io, An Envestnet|Yodlee Solution

Envestnet, Inc. (NYSE: ENV) is transforming the way financial advice and wellness are delivered. Our mission is to empower advisors and financial service providers with innovative technology, solutions, and intelligence to make financial wellness a reality for everyone. Over 106,000 advisors and more than 5,100 companies including: 17 of the 20 largest U.S. banks, 47 of the 50 largest wealth management and brokerage firms, over 500 of the largest RIAs and hundreds of FinTech companies, leverage the Envestnet platform to grow their business and client relationships.

For more information on FinBit, please visit our web site and follow us on LinkedIn.