Kasisto, creators of KAI, the leading conversational AI platform for finance, and DBS Bank, a leading financial services group in Asia, today announced they were selected by Celent, a global research and advisory firm for the financial services industry, as Model Bank award winner for Best Digital Bank. DBS Bank was recognized for its partnership with Kasisto and its KAI platform, which resulted in the most comprehensive, forward-thinking deployment of conversational AI in the finance industry.
DBS Bank utilized the KAI virtual assistant to launch digibank, its innovative new mobile-only bank, in India and Indonesia. A foundational element of the bank is the conversational AI-enabled virtual assistant from Kasisto, allowing users to answer thousands of different inquiries. DBS views the KAI platform as their “AI brain” and extended the customer experience across geographies, channels – including mobile app, website and Facebook Messenger – and languages, including English and Bahasa Indonesia.
“The success of the award-winning digibank is further proof that conversational AI is the future of the finance industry,” said Zor Gorelov, CEO and co-founder of Kasisto. “DBS Bank is an industry leader in AI-driven banking, and it shares our mission of helping customers manage their assets, track expenses, analyze spending, and improve overall financial literacy and financial well-being. We are proud of what we’ve accomplished with DBS Bank and are thrilled to be recognized by Celent.”
With digibank, DBS Bank has been able to continually differentiate itself from its competition, and create entirely new banking experiences customized for channels and markets. Since launching, more than 1.8 million customers have joined digibank India. The KAI-powered assistant is the first touchpoint for most customers, which handles about 80 percent of customer inquiries and requests.
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