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Westpac and FIS invest in conversational AI firm Kasisto

Westpac and FIS invest in conversational AI firm Kasisto

Conversational AI chatbot developer Kasisto has raised $15.5 million in a Series C extension led by its client Westpac and fintech giant FIS.

BankSouth, another KAI client, joined the extension, which brings the Series C to $31 million.

Kasisto's KAI digital experience platform is used by a host of FS giants, including JP Morgan, Standard Chartered and TD, to communicate with millions of consumers around the world across multiple channels in different languages.

The firm will use the latest funding for product development, strategic go-to-market initiatives, and the expansion of partnerships with financial services providers.

Scott Collary, group executive, customer services and technology, Westpac, says: "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."

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