Active.Ai - A Gupshup Inc Company

Background

Overview

Active.Ai, now operating as a subsidiary of Gupshup Inc., is a leading provider of Conversational AI solutions tailored for the banking, financial services, and insurance (BFSI) sectors. Established in 2016 and headquartered in Singapore, Active.Ai specializes in delivering Conversational Banking as a Service (CBaaS) platforms that facilitate seamless interactions between financial institutions and their customers through voice, video, and messaging channels.

Mission and Vision

Active.Ai's mission is to revolutionize customer engagement in the financial sector by leveraging advanced AI technologies to create intelligent, frictionless micro-conversations. Their vision is to empower financial institutions to enhance customer acquisition, reduce service turnaround times, and deepen customer engagement across various digital channels.

Primary Area of Focus

The company's primary focus is on developing AI-driven conversational platforms that enable banks and fintech companies to interact with millions of consumers monthly, thereby improving customer experience and operational efficiency.

Industry Significance

Active.Ai holds a significant position in the fintech industry by providing innovative solutions that address the growing demand for digital transformation in customer service within the BFSI sector. Their platforms have been instrumental in automating customer interactions, leading to enhanced satisfaction and loyalty.

Key Strategic Focus

Core Objectives

Enhancing Customer Engagement: Developing AI-powered solutions that facilitate natural and contextual interactions between financial institutions and their customers.

Operational Efficiency: Automating routine customer service tasks to reduce response times and operational costs.

Scalability: Providing platforms that can scale to handle millions of interactions simultaneously, catering to the needs of large financial institutions.

Specific Areas of Specialization

Conversational Banking: Offering platforms that support voice, video, and messaging interactions tailored for the banking sector.

AI-Driven Customer Support: Implementing AI solutions to automate customer service processes, enhancing efficiency and customer satisfaction.

Digital Transformation: Assisting financial institutions in their digital transformation journeys by integrating AI technologies into their customer engagement strategies.

Key Technologies Utilized

Natural Language Processing (NLP): Enabling the platform to understand and process human language, facilitating meaningful interactions.

Machine Learning (ML): Allowing the system to learn from interactions and improve over time, enhancing the quality of customer service.

Omnichannel Integration: Supporting seamless interactions across various channels, including mobile apps, web interfaces, and IoT devices.

Primary Markets Targeted

Retail Banking: Enhancing customer engagement and support for individual banking customers.

Corporate Banking: Providing solutions tailored for business clients to manage their banking needs efficiently.

Insurance: Automating customer interactions and support for insurance services.

Wealth Management: Offering personalized customer engagement solutions for wealth management services.

Financials and Funding

Funding History

2016: Raised $3 million from Kalaari Capital and IDG Ventures India to enhance technology and expand customer base.

2017: Secured $8.25 million in a Series A funding round co-led by Vertex Ventures, Creditease Holdings, and Dream Incubator.

Total Funds Raised

Approximately $11.25 million prior to the acquisition by Gupshup.

Notable Investors

Kalaari Capital: A venture capital firm known for investing in early-stage technology companies.

IDG Ventures India: A global venture capital firm investing in technology companies.

Vertex Ventures: A global network of venture capital funds.

Creditease Holdings: A financial services company.

Dream Incubator: A Japanese venture capital firm.

Utilization of Capital

The funds were primarily utilized to enhance the technological capabilities of Active.Ai's platform, expand its customer base, and support its global expansion efforts.

Pipeline Development

Key Pipeline Candidates

Active.Ai's platform offers over 150 pre-built use cases tailored for the BFSI sector, including:

Customer Support Automation: Automating routine customer service tasks to improve efficiency.

Personalized Banking Services: Providing tailored financial advice and services to customers.

Transaction Assistance: Assisting customers with banking transactions through conversational interfaces.

Stages of Development

These use cases are fully developed and integrated into Active.Ai's platform, ready for deployment by financial institutions.

Target Conditions

The solutions are designed to address common challenges in the BFSI sector, such as high customer service costs, the need for personalized customer engagement, and the demand for digital transformation.

Anticipated Milestones

Active.Ai continues to refine and expand its platform, aiming to onboard additional financial institutions and enhance the capabilities of its existing solutions.

Technological Platform and Innovation

Proprietary Technologies

Morfeus: A middleware engine that connects front-end channels, enabling banks to engage with customers via mobile, chat, or voice using AI.

Triniti: An AI engine combining natural language processing and generation elements, designed to automate functions like transactions and customer service.

Significant Scientific Methods

Natural Language Processing (NLP): Facilitates understanding and generation of human language, enabling meaningful interactions.

Natural Language Generation (NLG): Allows the system to generate human-like responses, enhancing the conversational experience.

AI-Driven Capabilities

Active.Ai's platform leverages AI to automate customer interactions, provide personalized services, and continuously improve through machine learning, setting it apart in the industry.

Leadership Team

Key Executives

Ravi Shankar: Co-founder and CEO. Former Group Executive Vice President at Yes Bank.

Shankar Narayanan: Co-founder and COO.

Parikshit Paspulati: Co-founder and CTO.

Professional Backgrounds

Ravi Shankar: Extensive experience in banking and financial services, with a focus on digital transformation.

Shankar Narayanan: Background in operations and management within the fintech sector.

Parikshit Paspulati: Expertise in technology development and AI solutions.

Contributions to the Company

The leadership team has been instrumental in developing Active.Ai's platform, securing funding, and establishing strategic partnerships, driving the company's growth and innovation.

Competitor Profile

Market Insights and Dynamics

The conversational AI market in the BFSI sector is experiencing rapid growth, driven by the need for digital transformation and enhanced customer engagement. Financial institutions are increasingly adopting AI solutions to automate customer service, provide personalized experiences, and improve operational efficiency.

Competitor Analysis

Kasisto AI: Specializes in AI-powered conversational interfaces for banking.

Finn AI: Offers AI solutions for financial institutions to enhance customer engagement.

Personetics: Provides AI-driven personalized banking experiences.

Clinc, Inc.: Develops conversational AI platforms for financial services.

Strategic Collaborations and Partnerships

Active.Ai has established partnerships with major technology and consulting firms, including AWS, Microsoft, Infosys (Finacle), TCS, Finastra, EY, PwC, and Accenture, enhancing its platform's capabilities and reach.

Operational Insights

Active.Ai differentiates itself through its specialized focus on the BFSI sector, offering tailored solutions that address the unique challenges of financial institutions. Its strategic partnerships further strengthen its market position and innovation capacity.

Strategic Opportunities and Future Directions

Post-acquisition by Gupshup, Active.Ai is well-positioned to leverage Gupshup's extensive network and resources to expand its offerings, enhance its technological capabilities, and drive further innovation in conversational engagement within the financial services industry.