Kasisto and Moneythor Partner on Banking Conversational AI
Kasisto, creators of the KAI conversational artificial intelligence platform for finance, and Moneythor, creators of a data-driven engine to enhance digital experiences for banks, are partnering to provide an integrated intelligent banking solution.
The partnership between Moneythor and Kasisto enables KAI to leverage data processed by Moneythor to deliver tailored recommendations, actionable insights, and contextual personal finance management advice.
"We already see great traction in the market and gained valuable experience deploying KAI at top-tier financial institutions. This partnership with Moneythor comes after our two companies collaborated at several banks in North America and Asia, including DBS Bank and Standard Chartered," said Zor Gorelov, CEO and co-founder of Kasisto, in a statement. "With this production experience, together, we've learned what it takes to seamlessly integrate our API-centric Conversational AI platform with Moneythor's real-time personalization engine. Our teams and our products work well together, and this means financial institutions working with us can speed their time to market to enable intelligent banking solutions and create more meaningful relationships with their customers."
Moneythor's data solution continually cleans, augments and enriches disparate and often uncategorized data, and then follows by generating proactive recommendations, insights and nudges, so Kasisto's conversational engine can power engaging conversations about the customer's financial life. KAI will use the data and related personalized message to read spending habits by category.
"In its raw form, a financial institution's data offers limited potential as it comes to driving intelligent conversations and actionable recommendations," said Olivier Berthier, CEO and co-founder of Moneythor, in a statement. "Pairing Moneythor's unique built-in transaction data analytics and nudge engine together with Kasisto's best-in-class Conversational AI helps us help global banks to deliver highly engaging banking services for the digital age."
"In the race for better customer engagement on digital channels, banks are increasingly focused on becoming money managers, rather than simply money movers, and the key to winning that battle is the ability to understand, interpret, and enable customers to act on increasingly complex financial decisions, in the same language that people use to speak and text with each other," Gorelov explained. "Banks now can use AI to unlock the power of their data and analytics to provide personalized solutions that help customers better understand where their money is going and assist them in building savings habits and achieving their financial goals. Integrating KAI and Moneythor does that."