Kasisto, which is automating banking experiences, has raised $15.5m in its Series C extension round, which was led by Fidelity Information Services and Westpac Banking Corporation.
Also joining the extension was BankSouth, a US Community Bank in Georgia and an early adopter of Kasisto’s KAI platform. The extra capital brings the Series C total to $31m.
Kasisto, which is headquartered in New York, claims to be the industry leader in conversational AI, and its KAI platform supports intelligent and financially savvy digital assistants in the financial services industry.
This fresh funding will enable Kasisto to bolster its product development, continue strategic go-to-market initiatives and expand its partnerships with top financial services providers.
Westpac Group customer services and technology executive Scott Collary said, “The cycles of innovation are getting faster, and so are the needs and expectations of our customers who want quick, intuitive and personalised service.
“Kasisto’s technology has enabled us to evolve from traditional chatbots to a sophisticated, human-like conversational experience, unified for the first time under a single AI orchestration platform. This means customer queries will be answered more efficiently with reduced wait times and fewer hand-offs.”
Australian bank Westpac has also collaborated with Kasisto to apply AI orchestration technology that routes customer requests to the most knowledgeable digital assistant.
BankSouth chairman and CEO Harold Reynolds said, “The more we work with this robust platform, the deeper and richer the experience has become for our customers. We fully expect that our highly personalised, digital assistant provided by KAI will be an increasingly integral component of our customers’ banking experience, and this investment in Kasisto demonstrates our commitment to making that happen.”
Earlier in the year, Westpac was hit with a $40m fine after it was found to have charged fees to over 11,800 deceased individuals.
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