Gupshup acquires Active.Ai to strengthen customer experience solutions

Active.Ai serves BFSI customers across 43 countries with conversational banking as a service platform that helps clients engage with millions of consumers every month

Gupshup, a leader in conversational engagement, said that it has acquired Active.Ai, the leading conversational AI platform used by banks and fintech firms, to strengthen customer experience solutions for BFSI customers. The companies didn’t reveal the value of the transaction.

Headquartered in Singapore, Active.Ai serves BFSI customers across 43 countries with conversational banking as a service (CBaaS) platform that helps clients engage with millions of consumers every month. Active.Ai has enabled more than 300 million user interactions via voice, video, and messaging, managed over 30 million service requests, and fulfilled 50 million-plus inquiries in aggregate, with 95 per cent accuracy.

“Using conversational AI, Gupshup is helping global businesses establish new and exciting ways to engage with consumers in a more natural and contextual manner. Active.Ai’s robust CBaaS platform adds more vertical depth to our product stack, giving BFSI customers the tools to create intelligent, frictionless micro conversations with consumers using voice, video, and messaging channels”, said GupShup CEO Beerud Sheth.

Active.Ai’s marquee customers include the Royal Credit Union and CommFirst Federal Credit Union in the US. In India, the customers include Axis Bank, Kotak Mahindra Bank, Tata Capital, IndusInd Bank, and HDFC Securities Ltd. The company has established strong partnerships with AWS, Microsoft, Infosys (Finacle), TCS, Finastra, EY, PwC, and Accenture.

“In the conversational economy, business to consumer engagement that combines advanced natural language processing with deep enterprise connectivity is essential. Active.Ai's conversational engagement platform powers leading financial enterprises across 43 countries,” said Ravi Shankar, co-founder and CEO, Active.Ai. “We are excited to partner with Gupshup to help shape the future of conversational engagement in the financial services space.”

Ben Mathias, managing partner, Vertex Ventures said Active.Ai’s technology platform is enabling financial institutions around the globe to effectively engage their customers using AI. “The merger with Gupshup is a logical next step in their evolution,” said Mathias.

Active.Ai’s investors include InnoCells, Kalaari Capital, Vertex Ventures, Chiratae Ventures, CreditEase, DI, and Kstart. 

In September 2021, Gupshup acquired New Jersey-based Dotgo for geographical and business expansion.