Singapore-based fintech startup Active.ai announced it has raised USD 3 million in funding from IDG Ventures India and Kalaari Capital. The investment will support the rapid growth of Active.ai to continuously advance its cutting-edge platform and build advanced artificial intelligence (AI) features, enabling an increasing roster of clients to deliver a superior and engaging banking experience, a company statement said. The company uses AI to deliver virtual assistant banking services.

CEO and Co-Founder of Active.ai Ravishankar said conversation is the new UX (user experience) and with banks opening up APIs, a new era of digital business is emerging. “We are moving from ‘Mobile First’ to ‘AI first’ and Active.ai is the platform facilitating banks to achieve that,” he said.

Active.ai is helping banks redefine their digital strategy for the future, bringing in automation and intelligent customer engagement to banking and payments, its Shankar Narayanan, COO and Co-Founder, said. 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, he added.

Source: Money Control