Singapore based banking chatbot startup Active.ai has raised a $8.25m Series A led by Vertex Ventures, CreditEase, and Dream Incubator.
Headquartered in Singapore with an R&D base in Bengaluru, Active.ai is one of a large number of startups in the region that has developed a customer service chatbot. In its case, the focus is on serving banks and financial institutions. Active.ai’s chatbots are powered by its artificial intelligence (AI) engine named Triniti, which is capable of natural language processing and generation. The platform allows banks to respond to queries or complaints sent by customers through messaging apps such as Facebook Messenger and Line. A Triniti-powered chatbot can then engage in a conversation with those customers to try to solve their queries – saving the bank time, money, and manpower, and allowing it deploy its human employees to higher-level tasks.