Kasisto Launches Industry’s First Intelligent Virtual Assistant for Business Banks

Kasisto announced ( October 28, 2019) the launch of KAI Business Banking (KBB) at the recent Money 20/20 conference in the US. It is the industry’s first intelligent virtual assistant for business banks. Kasisto are the  creators of KAI, the digital experience platform for the financial services industry.

Benefits for corporate and business banks

With KBB, corporate and business banks of all sizes can deliver new levels of productivity and automation to their clients, through the use of Conversational AI. Conversational AI has created an important opportunity to help corporate finance teams manage dynamic and complicated tasks by using intelligent virtual assistants to directly assist banking functions, and automate tasks that historically have reduced productivity while distracting cash and treasury management staff from focusing on more valuable financing tasks for their companies. These include cash positions changing hourly, payments flowing domestically and internationally, approvals required in a timely manner, and reports reconciliation across business units, subsidiaries, and counterparties.

Benefits for corporate customers

The KBB intelligent virtual assistant enables corporate customers to easily access information like payment activities, account balances, cash exposures, and automate routine tasks such as reporting, reviews, approvals, and reconciliations. As a result, corporate finance teams are more productive, and are freed up to focus on managing their business finance needs while also realizing reduced operating costs. KBB was designed with some of the industry’s leading financial institutions.

What KBB does

Kasisto’s KAI Business Banking virtual assistant provides users immediate access to information, services and products through human-like, intelligent conversations, 24 hours a day.

KAI Business Banking helps clients to achieve:

• Automated reporting, reviews, and approvals in a conversational-like manner by using an intelligent virtual assistant
• Reduced potential treasury management related exposures by surfacing important corporate finance insights and time-sensitive tasks
• A future-proof digital experience platform that is extensible and designed to quickly support emerging corporate finance needs

Zor Gorelov, CEO of Kasisto said “Designed for both large corporate, and small and medium-sized customers, KBB has been trained to directly assist the corporate treasurer and their finance departments with critical daily functions such as payables, receivables, reporting, and analysis. We are absolutely excited to offer this experience to the business banking market and are so proud to see KAI’s portfolio of virtual assistants and associated customers expanding at such a rapid pace.”

Kasisto’s customers include DBS Bank, J.P. Morgan, Mastercard, Standard Chartered, TD Bank, and Manulife Bank among others. The KAI platform currently provides access to 18 million users in four  languages, and is optimized for performance, scalability, security, and compliance. KAI is built with the deepest Conversational AI portfolio in the industry. Ninety percent of conversations are managed without human intervention.

Kasisto is headquartered in New York City, with offices in Silicon Valley and Singapore.

Source: Kasisto Inc. including picture